Investing: How did you start?

Discussion in 'Share Investing Strategies, Theories & Education' started by Jacque, 26th Aug, 2005.

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  1. Meisterin

    Meisterin Well-Known Member

    Joined:
    19th Jun, 2015
    Posts:
    109
    Location:
    Sydney
    According to the man I talked to met a the rich dad a few times. From the sounds of his name he is probably Chinese American- "Chan" or "Chen", I don't know which.

    From my memory, I can only visualise the chinese character, but can't quite recollect the pronuncation of the name. I recall the man referring to rich dad as "Chin-san", or Mr Chin if translated into English, which is the Japanese version of pronuncing "Chen" or "Chan".

    Sometimes Asian people have strange way of calling people in other countries that share chinese characters, like the old Europeans did, like Charlemagne becoming Charles in English, Marie becoming Mary etc, and I can't exactly remember the sound of his name, but only the chinese character of his name!!!
     
  2. Chris.R_WA

    Chris.R_WA Well-Known Member

    Joined:
    1st Jul, 2015
    Posts:
    88
    Location:
    Perth, WA
    Starting off...

    Nice *bump* hiflo, gives the newer members a better understanding of regular forumites' backgrounds.

    My serious start into investing was only very recently, though I have held some shares that I bought with 18th Birthday $$.
    I guess it started when I was at uni, studying hard to get good grades and a good job (which I did get in the end, not knocking it:) ). In one of my summer vacations, I worked as a labourer for a builder doing mostly structural renos on older type properties in the leafy western suburbs (Perth). One of the longer jobs though was a complete alteration of a huge place on Saunders Street (set into the cliff below Rose Porteous' late "Prix D'Amor", Saunders St has the highest average value per sqm of any St in Perth - entry price is around 3-4mil). Growing up, my family had always been fairly well off, we never went without anything and always had big family holidays overseas, but compared to this house on this street we were in a shanty town. I just couldn't work out how people could afford such places, I would have my lunch sitting on the infinity edge of the pool looking at the billion dollar view of all the yachts sailing the Swan, and calculate hour many hours of labouring I'd have to do @ $12hr to buy a place like that:eek: !!!
    I'd always see the home owner pull up during the day in his Maserati to talk to the builder, and one day I went to speak to him about what he did - naively thinking he might be a doctor or lawyer or some other highly paid professional etc.

    Nope

    He'd made all his money through investing in the stockmarket and property (he would have made another killing in equity from the job we were working on...). That chance encounter at least got the cogs turning at 19, though it wasn't until I graduated uni that I bought my first IP at 22. Its a 3 villa development site, so I'm just sitting on that at the moment, with some funds in NI against a margin loan.
    Thats a very drawn out background to my (thus far) very short investing history.

    Cheers, Chris

    p.s.I love reading everyobody elses stories too
     
  3. yeslist

    yeslist Member

    Joined:
    1st Jul, 2015
    Posts:
    13
    Location:
    canberra
    Hi folks
    I got started in property because my mother and grandmother both used to say to me "You can make money by buying property". I just believed them. I'm pleased they told me that.:)
    Not very exiting back then but it is now. I bought my first block of land back in 1974 and my first house in 1975. The house doubled in value in 18 months. thanks for that gem Mum and Grandma:)
    Simon
     
  4. Dr Lobster

    Dr Lobster Well-Known Member

    Joined:
    1st Jul, 2015
    Posts:
    81
    Location:
    sydney nsw
    Purchased my PPOR in 1999, saw the prices moving quickly and made sure we didn't muck around.

    I can't remember why, but in May 2003 I purchased a copy of API, the issue with Jan Somers on the front.

    Aug 2003 I made an offer on two properties and they were mine 6 wks later.

    Also set up some managed funds after gearing up my PPOR to purchase the IPs.

    Haven't done anything since, but now getting ready to do some trading and purchase another ppor and convert existing ppor into an IP.

    My advice : Read lots, pay for good advice, make a decision.
     
  5. Takestock

    Takestock Well-Known Member

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    18th Jun, 2015
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    Location:
    Sydney
    ...and then ACT on the decision.
     
  6. Dr Lobster

    Dr Lobster Well-Known Member

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    1st Jul, 2015
    Posts:
    81
    Location:
    sydney nsw
    fair enuff, I didn't spell it out but when I make I decision I act on it, they go together, deciding a course of action and then taking that course of action.
     
  7. Glebe

    Glebe Well-Known Member

    Joined:
    29th Sep, 2019
    Posts:
    819
    Location:
    Central Coast NSW
    Don't know if I've got much of a story but here goes.

    Worked as a paperboy and shop assistant in high school and was worth $5000 by the end of Year 12 which I was very proud of :)

    3 years later after finishing full-time uni and fuller-time partying, dwindled that down to $2000 at age 21 :)

    Got a full time job and that became $20 000 at age 22 which I invested in managed funds, which became $30 000 by 25.

    At a similar time my GF (now wife) bought a 1br unit in Glebe for $185 000 and we paid it off in 3 years by selling the managed funds and some very disciplined savings. Sold the unit for $245k at age 28.

    Got offered a redundancy ($50k) and with some more saving, we were worth $330k soon enough. Took out a margin loan to the value of $300k and have since made $100k in the sharemarket in the past 14 months.

    Parlayed it again this financial year with a $540k margin loan and $430k equity.

    Had a goal to be worth $600k by age 30, looks like that will be missed, but having fun anyway.

    Happily renting, will enter the property market again at some stage, but I still can't help but think NSW is 10-20% overvalued. Perhaps that's just my wishful thinking.

    I remember as a 22 year old buying Residex for QLD postcodes etc, I wish I bought an investment property back then (1999 I think).
     
  8. Lowb

    Lowb New Member

    Joined:
    1st Jul, 2015
    Posts:
    2
    Location:
    Sydney, NSW
    Finished uni, bought first IP in sydney in 2006...

    Prices have been stagnant and I'm just starting out so property investing has been a little dissapointing (that's from a very impatient person by the way)

    Also, it's interesting to read other people's stories
     
  9. Triu

    Triu Well-Known Member

    Joined:
    1st Jul, 2015
    Posts:
    149
    Location:
    WA
    Hi Maggie can you please tell me why you rent now and do you rent your PPOR? i don't quite understand or know why but am willing to learn why.

    thanks


    Triu
     
  10. Redwing

    Redwing Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    7,407
    Location:
    WA
    Wow some interesting stories..:)

    here's Mine...

    I guess my education came from Noel WHITTAKER initially and reading “Making Money Made Simple” and then “More Money with Noel Whittaker” the change in my mindset came from meeting a girl who earned half of what I did yet had twice as much saved as me, I next read Jans Book “Building Wealth through Investment Property” this was all around 1991/92 from memory.

    1991 I Purchased a Unit in Perth for $69.5K and in 1994 it was worth $80K and probably around $260K today.

    Read “The Richest Man in Babylon”

    Started putting 10% of my wage into an account and every time it hit $1,000.00 I’d buy some shares via a broker (GIO, BHP etc)

    1993 purchased a block of Land to build a house in Rockingham for $35K and later sold for $40K that same year.

    Sold the Shares which gave us a deposit and enabled us to purchase a Duplex Block of Land

    In 1994 purchased a Duplex Block of land in Broome (with plans to develop) for $40K and Sold 3 months later for $57K (now probably worth $300K).

    1994 Purchased a Unit in South Perth for $100K and sold in 1996.

    1996 Purchased a Unit in Joondalup for $105K

    1999 Purchased a property in Clarkson for $105K

    2000 my wife purchased her property in Morley a few months later for $85K

    2002 Purchased some shares in different companies and later sold in 2003 to buy the next property.

    2003 Purchased a property in Kiara for $168K

    2004 Purchased and Held as well as traded some shares for a while with mixed success (ZFX, PCH,REA,ETR, MGX and a number of others) and later sold as I decided I prefer to Buy and Hold with shares as well, preferring Blue Chips, however, I also leant about Profit Stops, Stop Losses and Triggers here as well as Basic Charting, Funds from here went to he next property again.

    2005 Purchased a property in Ellenbrook for $290K

    2006 Established a LOC

    2006 Purchased Shares in NAVRA Retail and looking for another IP.

    The WA Market is still going Strong and CG has been great giving us increased Equity to move forward.

    Learnt a lot along the path and learning MUCH more as I progress
     
    Last edited by a moderator: 8th Sep, 2006