net worth growth in past 12 months

I remember when I first got on this forum I read some posts like this about people not believing sis.

ALthough I have (unfortunately) never met him, I really think he’s telling the truth, it’s almost unbelievable: he’s such a genius!

But I think that he educated himself really early in life when others were still wearing nappies.
Must be highly gifted if you ask me!
I wish I had his business-sense![jealous].

But I’m sure there must be others doubting him, this always happens when someone is exceptional in some kind of area.

These are my figures;

Property portfolio values. Loans have not changed. Loans are my business.

Dec 2002 $1.180m
Dec 2003 $1.335m Increased by $155k
Mar 2004 $1.385m Increased by $50k.

Prices in my area of Melb have not really softened. I went to an auction on the weekend and there were multiple bidders.

And the main reason for the growth has been South Frankston. And I expect more growth as the infrastructure is built. eg. new picture theatres, central shopping centre, marina, foreshore developments, CAD (central activities district) etc.

So I think its possible but he must be very highly geared. I think his total portfolio is at least double mine.

Oops sorry Richmond I ignored your original question.
No I sure haven’t achieve what sis has achieved!

Dear All,

Remember a while back there was a guy his name is Victor Ollis (VO) selling house to investors and his company called ‘Country House & Land Sales’ or something along the line. he run a weekend trip (2 days) to tour investors around the country NSW to buy houses & land. And there was a huge threaded for that matter.

SIS & I went to that two days trip and we chats all days on the bus and until late at night as well.

If you actually meet SIS like I did and have a long chats with him then you will know his background and how knowledgeable he is. He explains to me many things that I don’t know about before such as domino effect techniques and so for.

For me because I meet SIS and has a long chats with him, I never duded him and I always congratulated him of his success.

Instead of duded other people, maybe one should try to observed and learns from successful investors like SIS.

SIS, congratulation. I know you will retire soon and I will see you again in 2 weeks time.

Kind regards

Chan Dollars
[Retire Young, Retire Rich] [strum]

“im always talking about investing or property if thats what the converstation is about, but anyone here can talk to me about property all day long and no… lol i wont get bored… “

totally agree SIS, viva la forum!

Richmond, ME me me, what about me, why don’t you want to come to Sydney and meet up with Me Me ME

pick ME

cheers – Mini

Oh yeah, answer the question, I reckon my properties have gone up 50-60 percent, based on what i see for sale in those areas and comparable houses. Also because there used to be 300 properties for sale and now there are only 30. Demand and all that. Add to that my 20 percent returns which are really only 10 percent because half of that is holding costs, and that’s not too shabby. Plus don’t forget I wasn’t even doing it for CG, which i thought could be negligible, I was doing it for CF to get my income up.

Anyway now that I feel confident everything is working out, after a year things are settled, maintenance is fully sorted, I am ready to gear.

Oh here’s a cute thing, I swapped a week’s free rent ($115) to some new tenants I found out were professional gardeners at an old people’s home after discussion with my rental manager. The rental agent has since been to inspect what they’ve done and she says it’s sensational and that they’ve done an enormous amount of work. Planting etc. Cool eh.!
Improving my property just in time for valuation at minimal expense!

lifeX,

I see where you’re coming from, but I think it’s also a good idea for people to know there are *limitations* to the millions and millions in RE- based on their personal circumstances.

Some of us are mere workers, with a range of expenses, interest rates have risen a bit and may rise any or every month, for all we know. I am not being “doom and gloom” about this (hate that cliched term). I am merely saying that if it all seems too easy, then perhaps one might look at one’s own circumstances and know that it isn’t that easy for everyone.

Banks generally don’t loan to people with poor incomes. They are considered too “rent-reliant”. I remember seeing people like Brenda Irwin and others in API saying the banks won’t continue to provide finance to them due to perceived or actual rent-reliance.

sis, how did you get around this issue given your part-time income? Surely, at some point, the banks say no- *despite* assumptions of full-tenancy etc. And how do you afford the extras? like landlord protection insurance, house insurance, maintenance etc? All those out-of-pocket expenses?

kay henry

What can I say? Sis is doing what we all would have like to be doing at his age but we were probably more interested in parties and women etc Keep up the good work Sis You are an inspiration to us all.And now i,m interested in R.E I reckon I could talk about it all day too. It,s very exciting and rewarding.

So many +CF properties out there.Let me help you and achieve a win win situation.Russ.

Can a moderator say ‘thats crap’

Anyway, i agree with Richmond. Go Pies!!!!!!!!

I dont barrack for the pies but I have too many mates who go for Richmond……