Hi
I’m 20 years old and have been readying up on and interested in investing of all types for over a two years now.
I recently took a job doing admin work for an engineering company and it has fueled the desire to become a property developer but I have no idea where to start!!
I tried looking at courses but I’m not even sure what ones are suited to what I need to know/learn. I feel like I’m in the stage where I need some advise and someone to guide. I’m based in Brisbane and email is: [email protected]
Or any tips or knowledge left on this forum is appreciated.
Thanks
Hi Kateodon
Welcome to the forum.
This form is quite a good place to learn. Have you already read a few property investing/developing books?
If you’re serious about it then you could do a Master in Property Investment/Development at a university.
I ended up doing that a few years ago :)
Andrew
superAndrew | Property Analyser and Finder Tool
https://property-analyser.com.auWhilst education might be useful without a combination of equity/cash and income you have no chance in financing a decent sized development.
We get inundated each and every week with enquiries from forum clients who want to finance development deals and whilst we do a fair amount many clients don’t like the rate of interest / fees you quote them or the conditions placed upon the deal.
Property development helped me amass my property portfolio but we had a good equity position and income to enable us to give up work and develop full time.
Cheers
Yours in Finance
Richard Taylor | Australia's leading private lender
Hi Kate, sounds like you’re on the right path! I found the greatest education sources to be forums – better than any books I’ve read or (free) seminars I have attended.
When I was working out my financial and property goals I set my end goal and worked backwards from there to give myself some guidance and direction.
As an example – in 10 years have 5 properties at 60% LVR and a portfolio size of $2.5m.
To do that I needed to buy 5 houses in the first 5 years at $300k each that average 5% growth per year and have at least 6% rental return – please note these are only rough figures and haven’t actually done any calculations. But hopefully you get the idea.
To be a developer you need a lot of capital to start with – do you have this? What size projects are you wanting to take on to begin with? Do you have any other property or savings?
Kinnon Bell | Kinetic Funding
http://www.kineticfunding.com.au
Email Me | Phone MeMortgage & Personal Loan Broker based in Cairns and Melbourne but servicing clients Australia wide.
In the large schemes of things no I do not have large amounts for savings. Although for 20 year old some say it’s rather sizable but couldn’t put a 20% deposit on a 400k house size.
I’m not set 100% that this deal of property development will ever eventuate into something but it’s sort of the direction I want to go.
I was thinking starting small and go from there but even then that’s a large commitment. All I know is I want to get involved in property and make something for myself.
Hey Kateodon
Good on you for asking the question and being so enthusiastic. I would hate to think of what I was blowing my money on as a 20 year old :-(
In my opinion – your best off educating yourself. Read widely and contribute on forums like this. Before you know it – you’ll start surrounding yourself with like minded people.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
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