SIX DEADLY MISTAKES [Avoid] - IT Consultant Loses SIX Property Portfolio! | Australian Investing

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 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.

0:00 - Introduction
2:00 - Thinh Nguyen’s property journey.
7:15 - Thinh Nguyen’s first property & first mistake.
10:20 - How supportive were Thinh Nguyen’s parents?
12:50 - Why didn't Thinh have a plan?
15:03 - Thinh Nguyen’s third property.
20:17 - Why didn’t Thinh Nguyen buy interstate?
22:15 - Thinh Nguyen’s Melbourne property.
25:18 - Timing the market is very important.
27:25 - Thinh Nguyen’s biggest mistake.
32:52 - Thinh Nguyen started buying again.
35:27 - Private advisory & Buyers Agent
42:12 - What is Thinh Nguyen’s next plan?
43:23 - Top 3 pieces of advice for property investors.
47: 52 - Conclusion

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