We've done it!
- Thread starter Rixter
- Start date
Well done Rixter.
A great achievement.
It must be a great feeling to be 3 years ahead in your grand plan.
I started about 7 years ago as well but have been side tracked twice now so l am eating your dust at the moment.
Not to worry l will get there.
I hope you continue to share with us on SS.
cheers yadreamin
A great achievement.
It must be a great feeling to be 3 years ahead in your grand plan.
I started about 7 years ago as well but have been side tracked twice now so l am eating your dust at the moment.
Not to worry l will get there.
I hope you continue to share with us on SS.
cheers yadreamin
Well done Rixter! 
Your signature block says it all really.
If I may be so bold (and hopefully not impolite) would you describe your "income" needs (whether that be from earnings on investments/capital appreciation etc) as modest, average or above average?
I don't mean to pry. The reason I ask is that I wonder whether many people could exit the rat race in the timing you've achieved if they were only prepared to dial down their expectations a bit...
Just some musing...
Again - congratulations on your achievements!
cheers
N.
Your signature block says it all really.
If I may be so bold (and hopefully not impolite) would you describe your "income" needs (whether that be from earnings on investments/capital appreciation etc) as modest, average or above average?
I don't mean to pry. The reason I ask is that I wonder whether many people could exit the rat race in the timing you've achieved if they were only prepared to dial down their expectations a bit...
Just some musing...
Again - congratulations on your achievements!
cheers
N.
Nigel,
I think our income needs would be described as fairly average.
Not living frugally we estimate our lifestyle budget to be $100k p/a indexed with cpi.
Is this what you're wanting to know?
Yes that's the answer I was seeking. Thanks
It's all relative isn't it!
That's comfortably above the average individual wage of about $57k from May this year http://www.news.com.au/business/story/0,23636,21747359-31037,00.html
and presumably it's (largely) an after tax figure...so again it's better again.
Just wanted to ballpark the figures so people could see what's achievable given your example!
Cheers
N.
It's all relative isn't it!
That's comfortably above the average individual wage of about $57k from May this year http://www.news.com.au/business/story/0,23636,21747359-31037,00.html
and presumably it's (largely) an after tax figure...so again it's better again.
Just wanted to ballpark the figures so people could see what's achievable given your example!
Cheers
N.
Hi Rixter,
Congratulations
Reading your strategy was great, can you share whether the properties you initially purchased are averaging 7%?
After 7 years into this strategy do you think you would do anything differently that may enhance/improve the strategy with a view of perhaps getting to goal in less time.
Apologies for so many questions, but always hoping to learn from others.
Cheers
Congratulations
Reading your strategy was great, can you share whether the properties you initially purchased are averaging 7%?
After 7 years into this strategy do you think you would do anything differently that may enhance/improve the strategy with a view of perhaps getting to goal in less time.
Apologies for so many questions, but always hoping to learn from others.
Cheers
Dear Rixter,
Well Done!
Congratulations!
Cheers,
Kenneth KOH
Well Done!
Congratulations!
Cheers,
Kenneth KOH
Congrats Rixter!
Now that you've got massive equity and portfolio under your belt, you can just sit back and relax for a while Right now the best investment to have would probably be cash. If you still want to grow your portfolio, a bit of active share trading would help, and there's a lot more investment opportunities overseas compared to Oz if you want to get a bit more adventurous (esp if you are thinking about managed funds). All the best!!
Now that you've got massive equity and portfolio under your belt, you can just sit back and relax for a while
Right now the best investment to have would probably be cash. If you still want to grow your portfolio, a bit of active share trading would help, and there's a lot more investment opportunities overseas compared to Oz if you want to get a bit more adventurous (esp if you are thinking about managed funds). All the best!!In the beginning I targeted property in areas with the view of them providing me very good short to mid term capital growth in order to leverage against and build a portfolio ASAP.
I looked to where the Government, Commercial, Retail, and Private sectors where injecting money. Areas with govt redevelopment authorities having been formed to over see massive regentrification. This beautifies and up lifts an area and becomes attractive so people start moving in. Once you see those sectors coming into an area and spending BIG Dollars you can fairly well be assured of growth.
These big multi-national companies spend $millions on market research prior to entering an area. If those researched didnt indicate strong enough demand for their products/services they would not be moving into the area either.
In answer to you question above, those initial properties have all pretty well tripled in value, so have far exceeded my 7% benchmark requirements.
I bought my first property (ppor) back in 1993. I basically paid it off over the following 7 years and used the equity in it as our foundation to build a property portfolio by purchasing our 2nd property in 2000. Since then, we have basically been purchasing a property per year.
Looking back in retrospect (if I knew back then what I know now) we could have got started a lot sooner by not waiting to have our ppor basically paid off before purchasing again.
The moral of the story would be to purchase as many as you can reasonably afford as fast as you possibly can because the faster you can structure or build your asset base the longer & the greater the compounding capital growth effect you are exposed to.
Hope this helps.
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Hi Rixter
thanks for sharing I think we all benefit from these great stories.
Many investors seem to be turning off property due to low yields, with your new purchases what yields are you averaging?
and;
Is there any particular areas you would recommend which have provided superior returns (CG/Yields)?
Did you at any point start capitalising interest?
What was your goal in terms of number of properties/value and what kept you motivated?
Lastly, did you have a mentor??
All the best.
If I am asking too many personal questions just ignore them......LOL
thanks for sharing I think we all benefit from these great stories.
Many investors seem to be turning off property due to low yields, with your new purchases what yields are you averaging?
and;
Is there any particular areas you would recommend which have provided superior returns (CG/Yields)?
Did you at any point start capitalising interest?
What was your goal in terms of number of properties/value and what kept you motivated?
Lastly, did you have a mentor??
All the best.
If I am asking too many personal questions just ignore them......LOL
Well done Rixter. Must be a great feeling.
I printed out your post re your CGA strategy some time back along with Keithj's story amongst others. I regularly re-read through it for inspiration.
I too am nosey enough to ask if you capitalised your interest and/or other holding costs throughout your accumulation process? Do you have investments in other asset classes too?
Thanks for taking the time to explain your strategy.
Ricepud
I printed out your post re your CGA strategy some time back along with Keithj's story amongst others. I regularly re-read through it for inspiration.
I too am nosey enough to ask if you capitalised your interest and/or other holding costs throughout your accumulation process? Do you have investments in other asset classes too?
Thanks for taking the time to explain your strategy.
Ricepud
My last 2 purchases this year (2nd just settled & 1st settled April) yields are 6.6% & 5.4% respectively.
Yes, as per post #33 above re: Govt, Commercial, Retail, Private sectors.
Not interest persay. I use an LOC for invesments. All rents go into it and all property interests & holding expenses get paid from it each month.
My financial goal is to build a portfolio that generates $100k p/a tax free with a substancial SANF buffer. Value wise the goal is $3.5M. The initial Motivator was to quit paid employment and never have to sell my time for income ever again.
No personal one on one type mentors. I do however network with a few other like minded investors.
I tried to ignore you for a day but as you can see it never work!
Hope this has been of help to you.
