An interview with Peastman

An in-depth interview with Peastman.

http://somersoft.com/forums/showthread.php?p=944130#post944130

The Y-man

holey doley - those interviews are rolling out quicker than I can read them. Cuppa and Timtam put aside for some Tuesday reading

Congratulations on an informative and interesting interview, Peastman.

I like the sound of your strategy. When you sell a property would you look to buy a neutrally/positively geared property to replace it?

Regards Jason.

just curious,

are these interviews conducted by a particular person?

what is the criteria?

do you get paid $250k?

lizzie said:

holey doley - those interviews are rolling out quicker than I can read them. Cuppa and Timtam put aside for some Tuesday reading

Click to expand...

One a month would be great,

I'm enjoying the reads

Thanks Y-Man & Peastman

Be great if you can add in a picture, even if just the avatar to put a name to face (or car in this case).

redwing said:

Be great if you can add in a picture, even if just the avatar to put a name to face (or car in this case).

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Noted!

The Y-man

Truly Exotic said:

just curious,

are these interviews conducted by a particular person?

what is the criteria?

do you get paid $250k?

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1. It's "conducted" by me over email - not real time.
2. You get paid zilch
3. Criteria - I just randomly ask and hope that the person says "yes"! A huge proportion of those I appoach respond with "My story isn't interesting enough - please come back when I have more properties..." (I disagree - I think every story is interesting). Other may wish to maintain their privacy etc which I perfectly understand.

The Y-man

jingo said:

I like the sound of your strategy. When you sell a property would you look to buy a neutrally/positively geared property to replace it?

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Yes, thats the goal. But if it isn't neutral/positive the others in the portfolio will cover expenses. Obviously capital gains is also very important, so it must have potential there too.

Truly Exotic said:

just curious,

are these interviews conducted by a particular person?

what is the criteria?

do you get paid $250k?

Click to expand...

Hey Y-man that sounds like a great idea. I will send you an invoice.

Great to read your story Peastman and goo to meet you on Tuesday night!
We may have differing strategies on exit plans, but I love your top 5 tips for new investors!
Look forward to picking your brain some more again soon...

Good one Peastman. Love your website. Hope your still enjoying that jag.

Thanks for sharing your insights Peastman. I loved your website. Your philosophy really strikes a chord with me because it doesnt involve taking big risks or putting in huge amounts of effort on renovating/developing etc, so it is realistically achievable. I also admire your ethical approach to taxation.

I just have some questions about your strategy:

During the initial 15 years, do you save up the 20% deposit for each new property from your salary? Or do you get a previous property revalued and borrow against it for the deposit?

Given that your properties are positively geared, do you pay principal and interest on the loans? Or just pay interest only, and save the rest toward the next deposit?

Do you think that most properties would need a major reno (kitchen/bathroom upgrade) before 15 years were up? If so, would you sell them off earlier to avoid having to do this?

Thanks very much

I enjoyed the read.
It just goes to show how so many have achieved so much with so many different strategies. So I suppose the lesson is to act, like you say, you can plan all you want but the action produces the results.
Well done!