hi there every one who uses this forum. my name is john townsin, i am 21 and currently have 1 investment property in townsville. my main goal is to eventually live of the rent from my investment properties in 9 years time. this would require me to approximately own 8 properties outright. (assuming each one brings in roughly $250/week). i work on the mines in mackay, and am a easy going dude who enjoys a good time with mates. so once again just wanted to introduce my self to every one on this site, and i look forward to being a contribution to the forum topics, and even asking questions when i get stuck at times regarding finance, tax issues, legal issues e.t.c.
thank you John Townsin
Hey mate, welcome to the forum. I'm a newbie myself and one thing I find quite remarkable is the amount of young people that are already getting into property investing. I was brought up in a very risk averse household that ironically has shown to be more detrimental than having had taken some risk years ago, now I'm getting on with little to show for it. Good luck with your goals, hopefully by the time you are half-way to my age you'll be financially comfortable or maybe retired!
Hi John,
Good on you for starting young, so many wish they had, but got distracted by life along the way.
If you view property investing as a subject to study, you'll realise that there are many different ways to make money in property. Then figure out what you want, and when you want to achieve it by. Then figure out the most effective way to get there.
It's a progressive thing.
Bought our first investing property at a seminar selling a developer's product. Learnt enough through that, not to do it again! And especially, not to have same agent (who wasn't very local,) to manage it. But no regrets as we learnt a lot from it, and did it progressively smarter as time went on. You'll learn along the way, how to do it more effectively.Wish you every success (but it won't be luck, skill plays much higher dividends!).
quickchick
Hi guys I started out like yourself and now 7 properties later… I owe it all to my broker, if you want expert advise and finance dont go anywhere else, http://www.wealthwithproperty.net All the best Steve.
Hi everyone, I am newbie here to this forum and glad to share my information.
Hey JAYT. I'm in a simialr situation to you. I'm 20yo with one investment property and I'd like to own 5 properties in the future.
Out of interest, what are you doing in the mines? Do you have a trade? Are there often vacancies for unskilled workers in the mines? I am currently in the final year of a cabinet making apprenticeship however when I finish I'd like to look into take up a job in the mines as they are high paying to help me achieve my investing goals sooner. CheersJAYT wrote:hi there every one who uses this forum. my name is john townsin, i am 21 and currently have 1 investment property in townsville. my main goal is to eventually live of the rent from my investment properties in 9 years time. this would require me to approximately own 8 properties outright. (assuming each one brings in roughly $250/week). i work on the mines in mackay, and am a easy going dude who enjoys a good time with mates. so once again just wanted to introduce my self to every one on this site, and i look forward to being a contribution to the forum topics, and even asking questions when i get stuck at times regarding finance, tax issues, legal issues e.t.c.
thank you John Townsin Welcome John!
Great to see some young blood join the forum…
Any questions- feel free to shoot away…
Regards
MichaelMick C | Shape Home Loans
http://www.shapehomeloans.com.au/
Email Me | Phone MeSame Banks. Better Rates. Served With a Passion.
Welcome.
Great work starting so young.
Sounds like you have an ambitious goal. 9 properties paid in full in 9 years. How are you going to achieve that?
Not saying this is you but many people start out and have a pie in the sky goal with no clue as to how they'll get there. This is VITAL if you really mean to achieve that goal.
eg will you buy 16 and wait for CG then sell half to pay down the other half? Will you pay one off (if you have a high wage) then buy another (I do not recommend this at all). Buy as many as you can quickly in high growth areas and pay down? Buy cheap and renovate to increase equity to then use that equity to buy again?
I'd be interested in your strategy and how you are going to achieve your goal.
Welcome John,
Great goal, what's the plan to get there? buy, renovate? build?
You're in the right city to acheive it, Townsville is a solid perfomer with incredible growth opportunities for the future. I live in Townsville aswell. Have a couple of IP's and in the process of subdividing and building a couple more. There's bargins galore around at the moment…
have fun shopping!
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