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I was always keen to be financially independent, even at the age of 8 years! It began when I was competing at little athletics carnivals, I realised that if I were to sell my home-made bracelets to the other kids I would be able to save enough money so that I didn’t have to work for mum and dad at home doing the chores for my allowance.. Fantastic!
Just get started, the sooner the better!
During my high school years I overheard my parents’ discussions regarding a property investment they had purchased in Canberra. They later came across The Investors Club and at first were very cautious, it just all sounded too good to be true. Both of my parents were on average incomes and were approaching retirement with a less than average superannuation. However, after a few years attending Club workshops and following the buy and never sell concept, they had established a healthy property portfolio which would give my parents ease of mind and the capacity to live the retirement they had worked so hard for. I could see how easy and exciting and even crucial, it was to invest.
Following my mum to a few workshops I began to understand how the concepts that Kevin Young proposed for his early retirement plan could also fulfil my financial goals as a Young Investor, like the option to one day be able to purchase a home in Sydney in the suburb I wanted to live in, rather than just where I could afford. I began putting away a small amount of cash each week so that at 18 I was able to purchase my first investment property. I looked on the Club’s stock list and noticed a second-hand townhouse on the Gold Coat listed for $66,000. At the time it was all I could afford but with the Club holding my hand every step of the way, the process was just so easy, I would definitely not have known where to start, where to buy, or what to sign if I had tried to do it on my own.
Buy and hold
I put my financial goals on hold for a few years after this whilst I completed a four year university degree in Science, but guess what! By the time I had finished studying, my ‘fairly cheap’ town house in Waterford had more than doubled in value and I was able to use the equity with literally no cash savings, to purchase another more expensive property in Perth. Again the Club helped me every step of the way, by providing current property market research, statistics on infrastructure and access to a Club Loans Mortgage Professional and solicitor. I was excited to find out this year that I had bought right before the Perth property boom, with the property almost doubling in value from when I purchased it in March 2005.
Fast track equity growth
Together with my partner, I have just recently purchased a third property for $355,000 in Coomera, and it is my first property to buy off the plan. I chose this type of property because I have learnt to mix up my investment portfolio with a range of new and second-hand properties, properties that have high equity growth and those that have a better rent return. My plan now is to ‘fast track’ my financial independence by reinvesting equity to buy new or near new properties using my maximum borrowing capacity to achieve higher capital growth.
Think positive!
If I were to take one thing away from what I have learnt so far from The Investors Club, it would be how important it is as a Young Investor to surround your self with positive like-minded people, as I believe being a successful investor is part good research and part good company.
My goal is to have a healthy property portfolio by my thirties so that I have ‘the choice’ to work and not because I have to. It’s all about doing what you like doing and enjoying yourself while you do it!
Tamara Przialgovskis
Support member – Young Investors Group Coordinator
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