Hi guys
I am new to Somersoft and relatively new to investing. My wife and I live in remote far north QLD and as a builder I was able to start our portfolio with a duplex development in our local town, completed in March 2014. This property is now strata titled and sits at around 10.3% net yield.
We are now looking at using the equity in these properties to expand our portfolio in safer suburbs throughout Australia.
We really want to have a good go at this and be living comfortably off passive income within 6 years or so.
We have a reasonably good idea of what we need to do and how to invest to get to this point mostly through creating CF+ and equity through renovations and developments and then sit on these properties whilst they grow in capital and bring in an income. BUT I am sure through more education and mentoring we could reach our first goal alot faster and without as many mistakes.
We are currently looking into Destiny Financial as they provide a 12 month course with endless advise including setting up our financial plan and recommending the appropriate structure to be buying each property through.They then have you bounce properties off them before you purchase and can help with negotiating etc.
This course is alot of money though(not really in the big scheme of things if it helps), but alot up front. I have read alot of books on investing and follow all the property magazines and at the end of the day I feel a good education is priceless.
What are everyones thoughts on having a mentor and has anyone used Destiny in the past?
I really appreciate any feedback.
Nath
I am new to Somersoft and relatively new to investing. My wife and I live in remote far north QLD and as a builder I was able to start our portfolio with a duplex development in our local town, completed in March 2014. This property is now strata titled and sits at around 10.3% net yield.
We are now looking at using the equity in these properties to expand our portfolio in safer suburbs throughout Australia.
We really want to have a good go at this and be living comfortably off passive income within 6 years or so.
We have a reasonably good idea of what we need to do and how to invest to get to this point mostly through creating CF+ and equity through renovations and developments and then sit on these properties whilst they grow in capital and bring in an income. BUT I am sure through more education and mentoring we could reach our first goal alot faster and without as many mistakes.
We are currently looking into Destiny Financial as they provide a 12 month course with endless advise including setting up our financial plan and recommending the appropriate structure to be buying each property through.They then have you bounce properties off them before you purchase and can help with negotiating etc.
This course is alot of money though(not really in the big scheme of things if it helps), but alot up front. I have read alot of books on investing and follow all the property magazines and at the end of the day I feel a good education is priceless.
What are everyones thoughts on having a mentor and has anyone used Destiny in the past?
I really appreciate any feedback.
Nath