[archangelsupreme]

Originally Posted by DaveA

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***Current Situation***

Age = 21

Work = Graduate at Big 4 Accounting Firm

Investments = PPOR in Rockdale (in the process of settling)
(sold out of all funds to fund deposit, however have 10k of T3 funds im awaiting CGT 12 month to rollover on)

Super = ~20k

Cash Savings = About 10k in an offset


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**Goals**

Re enter the stock market about July next year.

Purchase IP (in either melbourne or lower north syd) in about the 380-400k price range by the end of 2008.

Chartered Accountant by June 2009

Longer term goals.
Mil in Property by 25
3 Mil by 30
Mil in Funds by 30
LVR level of 80% by 30...

Havent set many goals after 30 though

Your doing fantastic at just 21. Makes me think that I should've done more with my money when I was 21 instead of just putting it in an online savings account LOL.

Gosh, $20k in super at 21....you must've been working for a while or dumped money in their to take advantage of that Government-Co-Contribution thing mid-year.

[DaveA]

3 of it is my own money while 6 is the governments.... thank you Mr Co-contribution... yes i wont be able to touch it for a while but im happy with that return...

[coopranos]

Age 27
Married, 1 daughter
Currently renting (moved out of PPOR recently to be closer to work)
Purchased PPOR in 2004 for $190k, current value ~$370k
Purchase IP with my brother (70% us, 30% him split) in 2006 for $267k, current value~$370k
Earlier this year ripped out some equity and margined into some managed funds/shares - total amount of $225k in working in there now.

My wife & I had combined income of about $30k (before tax!) when we got our PPOR. Up to about $50kish when we got the IP.

Positives:
Getting started, coming from a situation of being in the hole to the tune of about $40k from stupid personal loans etc in the teenage years to having some options and hope for the future.
Waited till what I think is a great age for our first child. By far the best experience of my life, didnt even know that level of happiness and pride existed till she came along!
Got a good job I enjoy at a good place, working with one of the smartest guys I know, so enjoying the challenge and learning.

Regrets:
I have been reading property and wealth creation books since I was 18, so it took 6 years to make the first move. That is too long!!
Should have gone waaaayy harder when we were on 2 incomes, you dont realise how much money you have until you cut your income in half.
In hindsight should have gone a lot harder through the perth boom, but who knew it was going to kick so hard!

The immediate future:
Looking to get into the next property now, hoping to get into a slightly larger project for the next one. Finding it difficult getting over the "what to buy and where" question at the moment. Trying to determine what I think still has room for growth in the near term.

Goals:
Learn to smell the roses a bit - I am constantly thinking of the next step, kicking myself for not going harder in the past, stressing about making the right decisions for the future. Really need to learn to enjoy now a whole lot more than i do.

[Chris.R_WA]

I'll throw my hat in the ring, since I fit into this age category!!

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***Current Situation***

Age = 23

Work = Business Analyst for Oil & Gas Co.

Investments = 2 IP's in Perth (adjacent development sites, 7 unit-site total) value 910-920K, loans 770K inc. LOC.

MF's = Approx 60K in Navra, approx 20K in CFS geared. Margin loan total at 45K. Just started capitalising interest on this, will see how the LVR moves around over 9-12 months, I might start paying the monthly interest again...

Direct shares = 40,000 speccies in AZS which I picked up for 8c, other than that, none.

Super = Dunno, company pays 12% super on top of salary, probably about 20Kish by now.

Cash Savings = About 4K, plus 7K still available undrawn in LOC for margin call/emergency.


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Goals: Short term = Just got engaged, so have a wedding to plan (and pay for!!) late 2008 some time.

I really need to sort out what I am doing with my development site, the yield is not great so it is a bit of a cashflow drain. But I think jumping in with a 7-unit development may be a bit large for a first-timer!! I have no dramas holding it for a few more years while I do other things, I just need to make my mind up.

Medium term = Generate enough passive income to replace my partners income, so she has a choice whether to work or not. Currently 14% of the way there, so whats that...about 1 day a fortnight!?!

Long term = Financial freedom for me by end 2019, currently envisioning a strong core of direct property geared to a neutral level, plenty of income oriented MF's with a big margin loan that I can cap interest on because I also have enough growth funds in the mix to maintain my LVR between 45-50%. Something like KeithJ's PPOR to $2M thread on Somersoft which I have printed out at home.

Anyway, its just a plan...life will probably get in the way!!


Chris

[FrankGrimes]

***Current Situation***

Age = 25

Work = IT

Investments = 4 x investment properties. 3 in Brisbane, 1 in Wollongong. 2 are being built (duplex). Total value around 1.15-1.2 million once the duplex is finished. Debt of 860k.

130k in shares. LICs and ETFs. (ARG, AFI, STW, SLF, GMI). Nothing terribly interesting, can’t be bothered trading direct shares.

Super - 40 k last time I checked

No cash savings. Anything extra just buys more shares or pays down margin loan.

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**Goals**

Keep buying as money permits until 40 or so the retire on decent $$. Oh and a nice car one day..The Audi RS4 at the motor showed looked nice

[crc_error]

Frank, how much shortfall each year do you have on your portfolio?

[FrankGrimes]

Originally Posted by crc_error

Frank, how much shortfall each year do you have on your portfolio?

Around $2000 p/m before tax, alot less after tax.. I gross 6k p/m from work so all is ok. Yield on the first two IPs are good because they were purchased < 2003 and the duplex yield will be good because of the whole "buy wholesale"..

I have it all detailed in a spreadsheet but contains alot of personal information so don't really want to post it

[crc_error]

I must say your doing well! what got you into all those properties?

[FrankGrimes]

Originally Posted by crc_error

I must say your doing well! what got you into all those properties?

Dad gave me Jan Somers book when I was 16 or 17. I didn't enjoy the book all that much at the time but it got me started. Started saving a deposit from my part time pizza hut job while I was in school and when I got my first full time job in 2001 dad helped with the remainder of the deposit and bought first IP in Wollongong for 135k, renting for $150 p/w. Then I've just bought more as I go... I actually regret not doing more!!

[coopranos]

Frank, just out of interest would you be in the position you find yourself in today if you had gone with shares instead of property?