Do your friends/family invest in property?

And two questions, in addition to the simple poll:

1) How many of your friends/family invest? (that you know of)
2) Anyone ever actively tried to encourage others to invest? If so, were they family or friend and how'd it go?

None of my immediate family do. None of my close friends do (mind you, a large number of them are still studying or only just entering the workforce). A few of my not-so-close friends hold small numbers of IPs (1-3).

1. I invested because I saw my parents doing it. They bought their first IP when I was 15.

2. Lovely feeling 14 or so years ago when a pre-school mum listened to me. Her hubby had gone bankrupt (not his fault - his business partner jumped ship and left him with the mess) and she thought they would never own a house. It took a while to convince her that the rent they were paying was the same as a mortgage. I kept making suggestions, and finally they "got it". They hadn't even seen a broker, just assumed they couldn't do it. They bought a house for just over $200 and it would now be worth at least double due to the magic of time.

Oldest son bought a unit a month after turning 22 and is now buying a house with a partner. Next son wanted to get in at the same time, but is at uni so no income to get a loan with...

All family members have invested and/or still do, from way back.

Most of my relatives do or have done, also from way back.

Many of my friends do.

I am close to a few that have a very high net worth from resi & CIP, but the most successful friends are probably those who have had high incomes through business and then invested in property and other businesses.

The one that's done best though property only is an uncle who bought up mostly large parcels of land in commercial zones (arterial roads mainly) and industrial sites going back 50 years.

Do your friends & family invest

Some friends and family invest. We use each other as sounding boards.

Biggest influence has been on my son who along with a mate built his first 2bdr townhouse at 19 as an apprentice carpenter in his second year of his apprenticeship. He says "that he did it before anyone told him he can't do it". This led him to widening his horizons. Could now be retired but has moved onto bigger commercial development. Others I have tried to encourage to get into property think it is all too hard.

Edit: D'oh! Totally misread that.

Thans Aaron_C for noticing.

Most of my direct/indirect family do. No strategy, simply high income earners with savings. The OTP unit in Melbourne CBD type stuff. Learnt everything I know about IP from outside the family.

Through family history there has been an investor or two, though I found out AFTER I started investing. Paternal-Uncle seems to be in large development in Iran. Maternal-Great-Grandad was greatly successful in Peru, though all that is left now is a few industrial and resi property in a trust worth a few million (13 kids and in-fighting does that). Notable exception, one of his kids started the hot-spring hotel industry in a now-popular-holiday city in Italy (I visited them about 3 years ago).

I grew up around those with ‘rich-uncles’, who owned landmark sites around Australia (they are large developers). They always use to point them out ‘my uncle owns that’. I always thought to myself, wait… do I want to point it out, or do I want to BE the rich uncle.

I have dragged some friends along for the ride, some now up to 2 properties. Though more them asking me if something is a good buy, as oppose to understanding why. Also dad kinda-gets what I’m trying to do, and is now very supportive. Did a JV with him on my last purchase. Uncle and a few family friends have also approached me to JV. Looking at development sites in the near future.

Richard Feynman said:

Nice. I didn't expect to see any/many scenariors like this where a child influenced a parent!

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I think she meant the other way around.

Most of my friends and nearly all my family invest in properties.

At my parents' generation, nearly all their friends have holdings in at least 3 countries.

Aaron_C said:

I think she meant the other way around.

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You're right, don't know what I was thinking. It ready pretty damn clearly! D'oh.

Both of my grandparents invested, commercial and boarding houses.
I helped my parents purchase two properties. They sold when one doubled and one tripled. One of my sisters has 1 ip, moreso her hubbies idea. They are badly overcapitalising on their Ppor, so I wouldn't really consider them investors. Out of my three closest friends, one has almost gone bankrupt for second time - sold Ppor and is renting; one has 9 properties; one has Ppor and two businesses. most of my friends just have Ppor. A few have 1 or 2 IP's.

A distant relative retired very young from property investing. Sadly it did not rub off on my immediate family and neither my parents or siblings invest in property. My brother is in fact dead against it as he lumps all property investors into the one "property always goes up" basket = he thinks we're all deluded and a great crash is inevitable.
I've tried to encourage him to invest, but I get my head bitten off so I've given up. For some reason he has a lot more faith in shares. Better than nothing I suppose.

On the plus side, I have a friend who's nuts about property, we'll probably do a jv at some point.

My grandfather had a few small plots of land back in his home country however they are now pretty much worthless due to conflict and political issues that have occurred over the last few decades.

My uncle has a big collection of IPs (15-20) but his health problems have meant he has not really enjoyed the fruits of his labour.

One of my aunts overseas owns a small apartment complex with her husband. It has some retail space on the bottom and they have gifted an apartment to each of their four children to either live in themselves or rent out.

There are also one or two other more distant relatives who have a few IPs.

My parents are small time investors in property and shares. My mum looks after the properties and my dad the shares. Seems to work well. My dad probably thinks an IP refers to intellectual property and my mum probably thinks an IPO should be avoided as an off the plan purchase.

I know one friend has a reasonable amount of IPs and one who has one and some shares. Most friends I would have no idea about their investments, although I suspect nothing or an extra 2 shillings put into super each week.

My side of the family do not.

My wife's parents had a place in Mandurah that they paid off in 2 years, because they did not like debt. Wife's sister married into property and thinks she's the bee's.

Apart from that, no one else.

We keep our stuff on the down low as family would be expecting us to help them out, even though we've taken all the risks etc and now have the rewards with no help from anyone. Brother has been all over Europe with his wife for 6 years enjoying the world and now come back with the big sob story. Meh.

HotRod said:

Brother has been all over Europe with his wife for 6 years enjoying the world and now come back with the big sob story. Meh.

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Wow, how did they afford that?

I am the only investor in my family, the rest spend all their money on their PPOR and new cars and toys....

I have a few close friends who invest which is great for me to be able to talk about the latest deals etc...

Almost no-one I know invests in IP's.

We know one couple who bought an IP through one of those investment Clubs.

One mate has a PPoR, a holiday house and a half share in a ski apartment, but that's about it for my circle of billionaires. A few are very well off, but only through their businesses - not investing, as such.

My Parents in Law own their own factory - he used to own a printing business and bought the factoryette he operated out of, so they are pretty much accidental investors.

A few others dabble in shares, but are by no means clued up and smashing it.

Given the posts here so far, it amazes me how they can air segments on the TV like last night where they reckon us evil LL's are forcing the poor old FHB's out of the market. (looks around for a box of Kleenex)

Some people on my wife's side of the family invest, but some of them get greedy, and periodically get burnt. Most of them struggle with risk management.

Most people on my side of the family are always so broke they wouldn't know what a $50 note even looks like. Investing is not something they do, ever.

Had an Uncle who had a couple of properties, but he passed away when I was 25.

Only Sister whose ppor became investment property and sold for new ppor on her return in 2004 when the price had doubled. She really regrets selling now. Did not do that again...Sent overseas 2009 rented newppor, in 2010 bought and rented out dream ppor for her future return to Aussie, and just settled this year on another ip. She buys and pays down debt. I inspired her to expand beyond holding for future ppor's and made her think about how much income she needed in retirement.

Three of my girlfriends invest, one with two ip's and another ramped up her investing last year by completing a destiny course and is up to 6 or 7 now.
The remaining one lives overseas but has paid off several properties worth 4-5 mill now.

Plenty of people to chat with all with different strategies and all happy with their progress.