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  • Profile photo of dark stardark star
    Participant
    @dark-star
    Join Date: 2011
    Post Count: 3
    December 31, 2011 - 7:50 am

    Very good effort Joel! The house was a classic untouched premises that was dying for a make over.

    Shame you didn’t get what you wanted for it – you certainly deserved it.

    Did you manage to make a tidy profit out of it given bumskin’s breakdown?

    What were your lessons out of this reno and what tips would you pass on to people looking at doing the same?

    Profile photo of dark stardark star
    Participant
    @dark-star
    Join Date: 2011
    Post Count: 3
    December 31, 2011 - 5:43 am

    Thanks for your comments :)

    I will be selling some personal assets to pay down the debts ASAP. I have reduced my living costs by boarding with parents until I can get a few properties under my belt. Free food, laundry, bills paid and even an allowance (lol) is what I need to get back on my feet!

    I’ve taken a big lifestyle hit by making these decisions, however nothing ventured, nothing gained and I want to be able to provide a better future for my daughter. I am extremely skeptical of Mr Market and his stocks and I’ve always wanted to be a property entrepreneur. For those PIs out there – I’m sure you get kicks out of driving past your properties knowing that you own that piece of realestate and someone is doing your the favor of paying it off for you! :)

    Are there any property investor clubs or coffee meetups for like minded people in Melbourne?

    Profile photo of dark stardark star
    Participant
    @dark-star
    Join Date: 2011
    Post Count: 3
    December 30, 2011 - 2:08 am

    Hey Guys,

    Instead of starting a new thread I thought I’ll post here :)

    I’m in my late 20s and have saved 30k of hard earned cash, with a current personal loan debt of 30k, which will be cleared by the end of 2012.

    My goal is to have zero personal debt (bikes, store cards, overdraft) and 50k in savings ready to invest.

    I have a stable income at an office job and will be running various online ventures to have multiple streams of income returning 25+ net % cash on cash.

    I love property and I love the idea of property investing. I want to make high returns in the market and squirrel the money into positive cash flow property or property for cap gains.

    My biggest issue is where do I start? What suburbs should I be looking at ? I would prefer to invest in VIC first as I live in Melbourne.

    Any help would be greatly appreciated!

Viewing 3 posts - 1 through 3 (of 3 total)