Hi All,

Nice idea this – tends to remove much of the anon syndrome from posting. Personally, I have gained alot of useful info from this site & it’s great to see such a varied bunch of people wanting to help others.

My name is Steve. 38 yrs, fairly standard family -beutiful wife + 3 kids. All Australian and living in the Middle East (Qatar). I’m a chopper pilot a fly to oil rigs in the Persian Gulf + other wonderful places around the traps.Lived the tax free life for about 9 years and in all honesty, have probably wasted the first five of them.

Bought my first IP at 20. You would probably think I should have it made having started back then. However, I was smarter than the average investor & decided I knew more than they. Laws of the Universe tend to sort mud from clay and lessons are learn’t!! Total disaster! -ve geared all the way and when my circumstances changed, so too did my fortune. Dug a whole so deep it took many years to climb out. Anyway, the best lessons in life are the hard ones!

Was only able to begin re-investment plans about 3 years ago. Studied, read, planned & set goals etc and took it steady for the 1st 2 yrs. Only really ready to increase the pace over the last 12 mths.

We have 7 IP’s and settle another 2 early 04. In the meantime, intend to purchase 3 more before year end. Very difficult & time consuming doing it from over here but not immpossible! Biggest problem is time-lag for courier packages back & forth when trying to meet deadlines.

Basic plan – 32 cash +ve to personal criteria by 06 with re-investment of funds into good cap gain buy & hold. Move back to OZ in 06 and renovate/flip min 2 per yr + continue +ve purchases.

Goal – stop flying, never retire, help underprivilaged kids find some hope.

Cheers to all

Steve

Is there some secrecy involved here or just protection of the limited abundance theory?

Thanks for sharing your techniques and plans but why is everyone so concerned about others knowing what towns they are researching & buying? From my experience, I have found everyone looks for different qualities & has different tecniques when purchasing. I for one have had huge success when buying properties that others percieve to be problem properties. IE fibro shacks, 2Brm houses, no carports, etc.

For the record – in regional Qld over the past 2 years, I have been buying Hervey Bay, Maryborough & Rockhamptom areas. I have found Hervey Bay is now too hot and Maryborough coming in close behind. However Rockhampton still has some great buys happenning.

Essykay.

Jus,

looks like you got some good info from Quentin and AD there. Good to see both sides at all times.

I am in a similar situation as yourself (other than the age bit). Great desire to get out of my ‘job’ and work full-time on investing.

Rule 1. You need an income from something if you are going to invest!
I think you have already answered your own questions. You want to get out of your job asap so you need alternative income.

Helps me to turn my plan into boxes and lines to get it clear in my head. My plan has boxes with +ve, wraps & reno/flips. These boxes are cash producing & will take the place of my present income. At some stage you need to put that income into an investment with good growth. Therefore all these boxes have a line going to ‘buy & hold’ for CG. (don’t forget living & lifestyle must be deducted) I tend not to focus on the tax issues too much. Of course it is very important & must not be ignored. However your business structure, combined with accountant/advisor when the time is right, will take care of this side of things to a certain degree. As they say “Death and Taxes……..”

An important part of my plan is flexability. If I find an excellent propisition for CG – I don’t ignore it just because my focus is on +ve at the moment.

Hope all these views combined get you off in the direction you are wanting.

Good Luck

Essykay

Sorry – forgot to tell you, the bank provided finance at 110% contract price, which allowed for the vendor needs and the property remains +ve.
LVR 55%.

Essykay

OK Paul,

Now that’s what these forums are about. Let’s hear a little more about your strategies etc. There are a thousand different ways of doing things and it looks like you have been through a few of them.

Essykay

Stuart,

Very good information in the article you mentioned. An area that interests myself and many others I would assume. I have a deal at the moment that may fall favourably within the criteria & shall be looking to finance in that way.

Thanks
Essykay

Hey Steve,

How about it? You going to make the Wealth Gaurdian available through your Resource section?

Many of us have no hesitation in purchasing the education we need, however it is not always possible to attend the courses / seminars due to work commitments etc. I for example live about 11,000 km away (as the airlines fly).

What’s the chances??

Cheers
Essykay