Hi Everyone,
Well last week I quit my day job to invest full time!! My partner and I have settled on a few house a couple of weeks ago (we are renovating and subdividing for profit) and have just got the new one that we keep us busy over the next few months!

Kate :)

ten_burner – having not heard of a hick town before and doing a google search the first thing that came up was “a person who lives in the country, regarded as being unintelligent or provincial”, perhaps it is common for the people you know to see it as someone from a regional town, however I would be careful what ‘slang’ you use, especially if there are other meanings to the word.

Also adding on to the risks you pointed out, I would not invest in a property without knowing these risks. The property I own is purely for positive cashflow, I do not expect any capital growth and I do not expect the rent to increase but that is not why I bought it.

Without this property I would have not been able to buy the last 3 properties I have purchased, all of which have been in capital growth areas.

Hi Phorsa,

Our strategy is to renovation and/or subdivide and sell so we are looking only at houses at this stage. Once we have enough capital we will be able to buy properties with good rents and capital growth outright and live of the rent (that's the plan anyway), but right now we are focused on building the capital base.

Thanks,

Kate

Personally I don't beleive you need to go to Uni or Tafe to become a property developer. I did 3 years of a Town Planning degree and learnt nothing even related to what I am doing now (renos and subdivisions). I learnt the most from my own research and actually taking the plunge and doing them first hand. There will be some courses that will help – like building or project managing, but I don't think it is a must to do them.

Hi Tom.

Although I agree with what everyone has said getting educated etc, can I just say make sure you are having fun! Hang out with friends and have fun, don't take life too seriously at this point you are still so young!

I am 23, started at 19 and have bought 6 properties now and I think I'm in a pretty good position in my life. My point is you won't be able to buy until you are 18, so take some time to enjoy life and enjoy being a kid – time goes so quickly and you will be 30 before you know it!

Kate

Hi Guys,

My partner and I invest in Perth and focus on subdivisions and renos. Last year we did 2 renos/subdivisions in Bassendean, but now we are looking for the next one Bassendean is not as viable as it was a year ago. Prices have increased too much to make anything worth while and properties are being snapped up in a couple of days.

We have now shifted our focus to areas like Midland, from the numbers I have been doing I think the only way anything is worth while is by doing apartment style developments or townhouses. The zoning is high around the town centre and there is a lot of gentrification going on. Personally I don't see the crime etc has a deterrent – majority of people are looking for affordable houses and these are the areas that appeal. I was shocked though at how much apartments/units are selling for at the moment – off the plan for $300k for a 2×1 and majority are sold.  

Thanks,

Kate

Hi Kirsty,

I have used Kevin from Jamie's recommendation and he is very good at was he does.

Thanks,

Kate

Hi Cathy,

I use Prak from Harcourts Maylands. He is an investor himself and is really good at what he does, he has sold 3 blocks and a house for us

Thanks,

Kate