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Discussion in 'Introductions' started by Punter, 30th Jun, 2006.

  1. Punter

    Punter Punter

    Joined:
    29th Jun, 2006
    Posts:
    23
    Location:
    Perth
    Hi

    Was shy to invade into this existing community but felt good with Sim's welcome email asking me to introduce myself.

    I am an engineer in Oil and Gas earning 170k+ per year and going strong ..

    Last year migrated to Perth.
    Bought PPOR last year (already apreciated 33%)
    Then bought also an Investment Property with DHA (new house leased for 12 + 3 years) on interest only loan. Thus did some good to my taxable income ...

    Now slowly getting more guts to follow experts in this foram.

    All credit goes to a colleague of mine who is active member of this group who gave me pointers to these forams. In this age of www, there is a lot of information but a little knowledge there.

    All courses and seminars of invested seem to be on the east side. Any thing in Perth?

    I can think of another 5 to 8 years with that continued income. Hence now am thinking of taking more risk. Have already started reading LOE article. I am currently sitting on almost 500k equity in my PPOR. Well these are my new words after reading a part of LOE article, so far I was only treating PPOR as a means of geting a house free of rent and did not know that there is equity there.

    Thanks in advance if someone could get me few pointers to read on.

    Rgds

    Punter
    ----------
    Sucessful people don't do differnt things, they do things differently.
     
  2. Simon Hampel

    Simon Hampel Co-founder Staff Member

    Joined:
    9th Jun, 2005
    Posts:
    4,619
    Location:
    Sydney, Australia
    Welcome Punter.

    You are right in that most of the face-to-face stuff seems to happen in the eastern states.

    However, by leveraging the power of the web, we are working to bring more and more material to our members no matter where they are. Indeed, we have some members who are overseas and aren't likely to get to a seminar at all.

    We're working to put seminar material and audio recordings online so that you can gain some benefit from the comfort of your own home (or workplace as the case may be!)

    Look forward to hearing more from you in the future.
     
  3. TakeStock

    TakeStock Well-Known Member

    Joined:
    14th Aug, 2005
    Posts:
    140
    Location:
    Sydney
    Hi Punter and welcome. It sounds as if you've got yourself into a very good position from which you can springboard yourself into the world of intelligent and successful investing.

    Cheers
     
  4. Jacque

    Jacque Team InvestEd

    Joined:
    16th Jun, 2005
    Posts:
    1,885
    Location:
    Sydney
    Hi Punter and welcome to InvestEd :)
    What reading material are you after, specifically? I have loads to recommend, but narrowing it down would be more beneficial.
     
  5. Punter

    Punter Punter

    Joined:
    29th Jun, 2006
    Posts:
    23
    Location:
    Perth
    Books

    Jacque

    Thanks for the reply.

    Went through the "LOE" article.

    It is so difficult to change a mind set which one carries for years! So looking at PPOR (and IP) as Equity to generate income and not just a rent-free place (tax saving idea for IP) is something I am still trying to digest.

    So want some more reading material like LOE article to fully enforce the idea. Some work sheet will be also good to check sensitivity.

    I am a professional in my field and do not have a lot of time to spend on this investment front. I migrated to Perth last year and did get a GURU here and hence managed to buy a PPOR and one investment property. He only got me to this forum.

    I am awakening and wish to quickly come up with firm plan for myself.

    I believe that there are experts here in this forum on property and investment matters in Australia and I can take leverage of their experience and knowledge. But then nothing is free in this world and hence I am finding it hard to accept that I will get a free advice here.

    As Sim wrote, you people are not present in Perth. Else I wanted to attend one of those seminars. To bo honest, I am not sure at this moment if I should spend time and money to come over to East for seminars etc. And hence I wanted to see if I can get some more material or some pointer to a professional who can work for me for a fee.

    Thanks in advance

    Punter
    ---------
    Sucessful people don't do differnt things, they do things differently.
     
  6. Jacque

    Jacque Team InvestEd

    Joined:
    16th Jun, 2005
    Posts:
    1,885
    Location:
    Sydney
    Hi Punter

    What classes of investment specifically do you want to learn more about?
    Shares? Managed funds? Property? Listed property trusts?.....
    Depending on what these are, I really believe books are a great springboard from which to formulate even more questions and advance on your journey of self education.
    For a few good anecdotal type stories about property, I'd recommend getting stuck into ORDINARY MILLIONAIRES by Jim McKnight and even the recently released SECRETS OF PROPERTY MILLIONAIRES EXPOSED by Dale Beaumont is an easy read. It's always interesting reading about the journeys of other investors to see who you can identify with and which path you wish to take.

    Have you been to an independent financial planner at all? Besides direct property investment, I'd be looking at considering diversifying into something like managed funds as a way of making your dollars work harder for you than they currently are. There are plenty of people on here who can give you ideas about what to look for with shares, funds etc so feel free to ask as many questions as you like. We are here to all learn from one another :)