Welcome to my January 2021 portfolio update. So, it is the start of a new year, we spent most of last year dealing with the uncertainty of Covid-19 and its vast implications. I am hoping this year will be a new chapter where globally we can put the pandemic behind us and move closer back to the norm. From my own perspective, I thought it would be a good opportunity to create monthly updates on my property journey. Hopefully, this will provide motivation to others and keep me accountable for achieving my investment goals.
I kicked off this year with a bang by picking up my third investment property. I believe I got a pretty good deal despite the market being extremely hot with minimal listings. The property had quite a bit of interest but fortunately, my offer was accepted, and the property is now under contract. I’m planning on doing a couple of renovations in the next few month’s including this month’s purchase. This may knock down my deposit for the next property, but they appear to be necessary. The renovations will only be cosmetic but should help demand a greater rental return moving forward. Given the numerous government incentives which have been employed to stimulate the economy, I expect this new property alongside my other investments to do quite well this year.
January 2021 portfolio update: Property Break Down
In addition, property one has really started to take off, I have seen 30k growth in the last 3 months. Property two has been quite stagnant for some time now but confident this year will see some good growth. Property three does not have enough data to graph from the time of purchase, however, it was picked up from a distressed seller at an approximately 15% discount from the valuation of the property by numerous property price calculators and comparable sales. Thus, it has been an excellent start to the year as I continue to progress in my property journey.
#1 Property One
#2 Property Two
#3 Property Three
January 2021 portfolio update: Portfolio breakdown
January 2021 portfolio update: Race to $5 Million Portfolio
Until next month.