Читать книгу Buy Now - Lloyd Edge - Страница 29

When I started investing in property I hadn't even met Renee and I certainly wasn't thinking about paying for my future kids' education and owning a waterfront mansion, although I was teaching private-school kids who lived in those kinds of properties. What I did know was that in my current work situation I would never have a big income and wouldn't accrue much in the way of superannuation. I didn't want to spend my retirement living on a pension. I wanted financial freedom. These were the forces that drove me to taking investing seriously.

In 2007 I started looking at properties in the Campbelltown area of Sydney. I wanted to buy a bigger house to move into. My goal was to lease out Rockdale, and since it was brand new and well-located it did rent easily.

My new house would also later become an investment. This time I was leaving nothing to chance. I had a mate who lived out near the south-west suburb of Ingleburn and had bought his house there quite cheaply. That piqued my interest, because most areas in Sydney were already very expensive back then. So I looked around and found that I could afford a bigger property in Ingleburn.

After a little research I discovered that Ingleburn was experiencing a lot of capital growth and one of the lowest vacancy rates in the country, meaning that any property there should perform well over the longer term.

Eventually I found a three-bedroom villa at the end of a nice, quiet cul-de-sac, listed online through a real estate agent. I had looked at a few Ingleburn properties by then, but this one had a brand-new kitchen in it, which I loved (though I didn't even cook!). This house had a better kitchen than any house I'd ever lived in. So I made a very emotional purchase for about $262 000. I only had to put down a 10 per cent deposit, which was also a relief.

However, Ingleburn was 50 kilometres away from the Sydney CBD and from Bondi Junction, where I worked. It was on a train line, but my house was a long way from the station. I loved walking but it was a long walk to the shops if I had a lot of groceries to bring home, so I had to drive. I really enjoyed living in Ingleburn, though, because it was quiet and green and brought me back to my country roots.

I rode my motorbike to work when the weather allowed. I'd be up at 5 o'clock and out of the house at a quarter past, to make sure I missed most of the traffic, and I'd just fly down the side of the motorway in 45 minutes. I'd do the same in the dark on the way home, and that was my day. I met Renee while I was living there, and she'd climb on the back of the bike. It was great fun.

After we bought our home in Lewisham and moved in together, I kept that Ingleburn property as an investment for a few years, then sold it in 2012 — again at the wrong time in the market. I should have held onto it for a few more years. Had I sold it in 2021 I would have made heaps on it, as it would have more than doubled in value. Even if I'd kept it until 2018, I would have made a lot more. But you live and learn.

I wouldn't say it started to snowball from there, because although I was acquiring more properties, I still made some beginner's mistakes. This was mainly because I was still not clear on my goals and I didn't really have a strategy in place.