Need help

Where are you located?

No offense to everyone’s books/seminars and courses. Which make up a portion of the learning pie.
My fastest learning was when I physically got to speak to people with a number of properties – 4/5 minimum. And speak to people who have 20 properties and 100 (unlikely to find someone who will give you the time of day)
You’ll learn basics of people with small portfolios.

30 properties at 30. I’m guessing your 18-20 now?

– how active do you want to be. Do you want to be buying renovating selling then moving profits into developing.
– what are you current skills background. Qualifications in anything to do with housing construction would help with the above or are you a professional, are you going to uni to be a doctor . This is important because it shows you what to focus on first.
– build a disposal income first as quick as you can. When you have a large income it makes a heck of difference on accelerating and deposits for properties.
—- Save quickly for that first deposit and hard.

Need to work out where you sit and what you are prepared to do before you can work out how to achieve it.
30 at 30 is to high a goal btw. It’s a nice long term goal. But a shorter goal would be. How am I going to buy a property in the next 6 months. Or the next year. And work your hardest to achieve that

• This reply was modified 10 years, 3 months ago by  wilko1.
• This reply was modified 10 years, 3 months ago by  wilko1.

Just something to be aware of is that when you use “equity release” to fund deposit and buying costs on a subsequent purchase, interest will have to be paid on the equity release. In other words, you’ll be paying interest on 100% of the purchase price of the subsequent property. Plus interest on the stamp duty and anything else you used your equity release money for.

In this regard, for the property to stand on its own two feed and not have you dipping into your pocket each week to prop up the mortgage, the rental yield would need to be strong.

Get your supervisors license for residential construction in the future and for your 2nd house. Start researching properties that can be subdivided.
Schedule a meeting with a local planner in the area and ask them how to read and understand the local development policies, development guidelines. This will help you find areas which development is encouraged. Google maps can also help. If you see a lot of houses, with 2 houses behind a old house or subdivided corner allotments. This can also indicate you could do something similar.

Or continue as you are doing but buy properties that are significantly undervalued and need renovation.
You can add equity from your own labour and having a trade in one of the important 3 trades (electrical plumbing and carpentry) you should be able to save significant costs. Also if you have mates that have other trades. Get then to teach you their trade. Learn plumbing from plumber etc.