Thinh Nguyen, a Melbourne IT consultant, quickly built a six property portfolio, but then lost it.
🎓 After graduating with a double degree in Finance & Engineering, Thinh decided that property was going to be his way out of the rat-race!
💰 He chose property rather than shares due to the power of leverage, and had to convince his family that debt is not the enemy - rather it is essential to build wealth.
🛑 But after he bought six properties in Melbourne, Adelaide & Canberra, he had to sell them all.
In this episode we learn from his SIX BIG mistakes:
👉 No long term game plan or lending strategy and how refinancing multiple time cost him dearly without the right financial buffers
👉 Buying to develop without understanding the right feasibility study
👉 Only buying where he lived and missing out of growth cycles interstate
👉 No concrete & predictable suburb selection methodology
👉 Not knowing when to sell and missing out on property booms
👉 Paying a famous Buyers Agent from a Facebook Ad only to have to do the work himself anyway
🕒 Thinh also covers his biggest three pieces of advice from all his mistakes and years of investing experience
🙏 I'm really grateful that we can all learn from his experience - it's rare to find someone as humble, transparent and willing to help others
📈 Nevertheless, now he's enjoying his life and "back on the horse" restarting his investing journey.
Discussion Points:
00:00: Introduction
02:42: From IT consulting to property investing
13:24: Taking time to make a plan
16:10: Being honest and owning mistakes
27:49: Timing the market versus time in the market
31:28: Determine cash flow and reverse engineer
33:46: A horrible experience with a buyers agent
43:59: Top three pieces of advice
50:17: Conclusion
About The Host:
Subscribe to Aus Property Mastery with PK for no BS, “straight to the point” property investing strategies and data-driven insights about the Australian housing market - the only property podcast not biased by a “Buyers Agent”. You can listen to Aus Property Mastery on Apple Podcasts, Spotify & YouTube Music.
PK Gupta is the founder of the Property Investment Accelerator — Australia's #1 Rated And ONLY 100% Independent Real Estate Course & Mentorship Program that helps people achieve passive income through property investing using DATA, WITHOUT wasting months doing "research", spending weekends at inspections OR dropping $10-20k on Buyers Agents each time.
Resources:
- Watch FREE Trainings On Our Website 👉 https://consultingbypk.com.au/
- Get Suburb Tips & FREE STRATEGIES In Our Private Facebook Community With Over 50,000 Clients & Investors 👉 https://www.facebook.com/groups/passiveincomethroughproperty
- Watch No Nonsense Property Market Insights On Our YouTube Channel 👉https://www.youtube.com/c/AustralianPropertyMasterywithPKGupta
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