Just wondering how we all got started in real estate, what was the turning point in your life?
When did you actually make the descision?
We buy properties in Adelaide. Immediate Cash Settlements, No Agent Fees.
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phone 0412 437 582OK, I’ll go first!
I started by default, my dad was a negative-gearing property investor, he bought one house every 2 to 3 years, then bought commercial properties and finally businesses. He maintained his job to service the shortfalls and when some of the very first ones were paid off, he retired at 50. With a lot of money!
Negative gearing works, if you give it enough time!
so I did, the same, bought one every 2 to 3 years (starting at 19), then bought commercial properties all the while thinking I will be working until I’m at least 50. Not much to this type of investing really.
Then came Robert Kyiosaki’s Rich dad poor dad. Where the words POSITIVE CASHFLOW jumped out from the page and kicked me in the head!
That was the turning point.
We sold all our negative geared non-performers, (much to my dads disapproval!), bought positive cashflow properties, and did some value ads like developments and renovations.
Then quit or jobs to do it full time.
dad is still having breathing problems over this one! He keeps telling me that property is for people with money, not for bums that don’t want to work!!!!
He’ll get over it [biggrin]
We buy properties in Adelaide. Immediate Cash Settlements, No Agent Fees.
[email protected]
phone 0412 437 582was attracted to the benefits of negative gearing in the early 90’s. Property was trendy then, perhaps not quite as trendy as it is now. If I had stuck to the philosophy of negative gearing investment I would be a lot wealthier today. I have never sold a property and looked back several years later and been been happy with the decision.
doomsdayers and gurus come and go with every bull market, rent yields are ordinary, cap gains make the difference, property prices rise on average, same old same old
http://www.megapropertygroup.comINVESTMENT SALES * RENTAL SOLUTIONS * STRATA MANAGEMENT
We came to Ozz in ’83 and, as was required then, my parents had brought in a lot of money.
As the years went by the ‘Lot of money’ got less and less (they bought businesses and sold them after working very hard, but never at much of a profit). At a few times thru my growing life I recall them discussing investing in property and then letting these go. Each year they would watch for those missed opportunities and marvel at how much the value had grown and how much they should have bought it, etc, etc. Till today, they still haven’t invested in IPs or shares. Mother has passed away due to cancer and my father is now an invalid pensioner with no spare cash…..
I don’t need to be rich, loaded, gold plated! I just don’t want to have to turn over every dollar several times, contemplating if it is the best value for money I can get out of it! Or knowing that every dollar I own is already spent – it is just a matter of time for it to come into my account before the autopay system sends it on its way again, hoping I don’t get a fee if the funds aren’t there on time!
It would be nice to just pay it knowing that ten of its mates are just about to return to me!So I spent $2500 (yes – ouch) on a seminar that came to Port Hedland and met 40 other people thinking about investing. From here I bougth books galore (inculding Steves) and now have just about completed my second mortgage for our first IP. So it has taken 3 years to get two – and I hope that wont be the end of it! Now that my wife is on board, things should go twice as fast!
Cheers
C@34Our greatest weakness lies in giving up. The most certain way to succeed is to always try something one more time.
– Thomas EdisonAusprop, Yes I agree, true wealth is created in capital growth, but you need a means to fund the shortfall while waiting for appreciation. If you don’t have a job (which I don’t) you need to either buy or create positive cashflow!
By the way, great website!
C@34, sorry to hear about your mum
where did your parents come from? Your story of procrastination sounds all too familiar! Sounds like you are on the right track now!Xenia
We buy properties in Adelaide. Immediate Cash Settlements, No Agent Fees.
[email protected]
phone 0412 437 582I struggled to buy a property as a single mum in UK, a council house (ie housing trust). My father lent me the deposit and after a couple of years I started paying extra off, got married had a couple more kids and extended house.
Unfortunately I did not know much about property so with only 7K (pounds) mortgage, sold it and bought in country. Split from husband, as I left house and country to escape violence, court awarded him house.
First house bought for 17500, sold for 106000 after 6 years, second one he sold after 2 for same price paid (125K). 1st sold in 1989, second in 1992, rent on both those now would have meant I could quit work (approx 2000K per month after expenses).
houses now worth about 300K and 350K (pounds).Then still not realising, living in SA renting, bought block of land in QLD, held for 10years then sold as had only doubled in price form 45 to 84K, 18 months later it was worth 299K.
Finally I saw the light, bought rental unit in QLD – not doing bad but have more knowledge now.
Bought PPOR in 2002 and renovated – done OK with that too, just bought, subdivided and sold a block, made a bit of cash.
Still really trying to work out how to do positive cash flow so that end up holding some while being able to do large numbers. (Dont have years till retirement).
Great journey though, learning heaps and long way to go but no-way will I ever stop – I love it.
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