Who's achieved 50+ properties in their time on earth?

With plenty of learning curves and a few set backs under my belt for 2008/9 I'm really looking forward to pushing myself, my wife and our littleeeees with our goals in 2009/10 however ambitious they seem

Most of my goals are things I can't share with family and friends as they just can't get there heads around owning more than 2-3 properties if that!

With my first property goal of 2009 ticked off - getting a DA approved duplex site & renting it cashflow +. Its now time to move on bit scary this setting goals and achieving them........ it use to be just dreams now I'm actually doing it

I'm paying down debt getting ready to buy some houses or units with work needed to increase equity and continue building my portfolio. I aim to build to a size I can create a company employing people to manage my properties. Great way to sponsor my race car while ------> aiming for $50mil in assets with 250+ properties by my 50th birthday - Sept 2027

I love the subdivision for duplex's or t/house and will continue to use that as another source to build the portfolio. My goal is to build 4 keep 1. Then do it again and again and again -
TREBMAL construction & Subdivision has been born. Just at this point in time construction is a bit hard to fund for me so I'm focusing on cheaper end of town that is easily rented and value's well with a neat renovation.

I'd like to hear from people who have accumulated large portfolio's, there ideas on structures, debt levels and anything else they see as relevant.

Is the subdivision path a real everyday australian way to leap frog to my goals?

I know that many on the forum offer insights and advice, I find that many of the uber' successful people are shy in revealing there actual success as maybe in the past others have tried to cut the tall poppy down. I'd like to believe that wouldn't happen on this forum.

I would like to heap praise on those of you that have actually made it to these lofty heights and would dearly love to share a cold beverage and listen to your story. Just like the war stories your told as a kid - If some of your stories where told at school I think our youth would be a lot better for it.

Thanks for readying this now very long post and I look forward to reading some almost unbelievable journeys.

Andrew L said:

Who's achieved 50+ properties in there time on earth?

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Well...not in this life but I have in another life...!

Hey, I wish you the best of luck and urge you to keep striving for your goals....I believe you will succeed because you actually have those goals written down don't you...

Go for it!

Hi Andrew,

I 2 people that have largish portfolio's

i think its best to base numbers on portfolio worth gross or nett, 50x 10,000 and 50x 300k properties are different things

had a distant relo that had aquired approx 60-70 properties which was a mixture of units and torrens titled stuff (all resi) before his death (about 80 yrs old). no idea on debt levels.

and one bloke that does the garage sales circuit around here not sure on portfolio val but he was telling mum he spends about 95k p.a atm on land tax, he has about a 50/50 split in resi and commercial holdings (focus on industrial sites/warehouses) he is also 70's plus and still penny pinches on items @ garage sales and goes driving around with his wife to collect rent (yes even from large comm tenants).

What i'm doing (im residential nublet) is just going hard and learning on the way

All I could think of was "Be careful what you wish for"

Family and good health are far more important.

maybe this is not ALL anyone wishes for

Ajax said:

All I could think of was "Be careful what you wish for"

Family and good health are far more important.

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Its funny to read this type of comment, Its what I'm used to from the family and friends that don't understand the journey im on

My wife and I are very much a partnership in this and are enjoying the road we're traveling as well as looking forward to the fruits of our hard labour.

The future for many generations of Lamberts is going to be filled with love and opportunities. I hope that the legacy we leave our future family members is of as much cultural value as it is monetary value.

As other threads suggest money is far from the evil many make it out to be. We're opening the door for endless opportunities for our family.

Had the question been phrased: Who wishes to own 50+ properties my answer would be simple: No way Jose!

For a much smaller investment I could own some quality professional property which would return far more than I could possibly spend. Note: I am past the Porsche "status symbol" phase.

I would insist on a distinct layer of separation between myself and my investments as soon as possible on my investment journey (ergo: I like shares). Even with PM's you must still be "hands on" managing your managers if you have title that that many properties. Being a "full on" landlord would suit a only small percentage of people so what you see here ain't "normal".

Note: If one PM had all your business he/she would be living far better than you until you stopped acquiring. When do you stop acquiring? In case you haven't noticed, for me that is way short of 50.

Sunfish said:

I would insist on a distinct layer of separation between myself and my investments as soon as possible on my investment journey (ergo: I like shares). Even with PM's you must still be "hands on" managing your managers if you have title that that many properties. Being a "full on" landlord would suit a only small percentage of people so what you see here ain't "normal".

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Very good points sunfish. The layer of seperation sounds like it'll give you a very relaxing lifestyle.

Sounds good in theory but I would wan't any future generations to undergo some sort of financial training so they don't blow all my hard work.

As for me I will be happy with 10 ip's as property investing is only a means to an end.

Agree with Sunfish.

Resi IP is a great asset class to leverage hard early on and build "safe" equity which can support better, more profitable and SCALABLE asset classes.

E.g. say you have 2 or 3m in resi IP, after that once you build some equity (say $1m) you have big deposits for decent sized commercial properties on reasonable LVRs or big share portfolios (or businesses). Whatever floats your boat.

Point is a $1m or 2m commercial property would then be in reach without signing your balls away to a bank. Would you rather 2 x $1m commercials or the 5+ x $400k resis (probably more like 6 or 7 to get same yield)!

good old "freak of nature" Nathen would probly get there?

Trogdor said:

Agree with Sunfish.

Resi IP is a great asset class to leverage hard early on and build "safe" equity which can support better, more profitable and SCALABLE asset classes.

E.g. say you have 2 or 3m in resi IP, after that once you build some equity (say $1m) you have big deposits for decent sized commercial properties on reasonable LVRs or big share portfolios (or businesses). Whatever floats your boat.

Point is a $1m or 2m commercial property would then be in reach without signing your balls away to a bank. Would you rather 2 x $1m commercials or the 5+ x $400k resis (probably more like 6 or 7 to get same yield)!

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I guess my reasoning for staying on the smaller scale resi properties, is partly through inexperience but also due to a better in bulk mentality.

I'd prefer 10 houses around sydney than 2 commercials in the CBD. Mainly for the security of diversifying as opposed to all eggs in one basket. Please bare in mind the road is not fixed and goals can and will be rewritten as my education and experience changes.

Two main items to have running is a family business & a self supporting property portfolio for the family's wellbeing & security.

The business will manage all investment properties while building small developments eg duplex's and triplexs

With 3 young boys I'd hope one off them gets the bug to build and prosper. OR who knows the next maybe daddies little princess and run rings around the brawn of her brothers.

I guess I've only really mentioned some family or monetary reasons for investing.

Sick kids is the most up setting thing as a young parent I feel I could face. With that in mind with the success of the business I look forward to building self care short term accommodation for parents of sick children close by hospitals around Australia and as an extension of these facilities offer farm stays to these families with terminally ill children.

I see the farms being close to regional towns for ease of access and offering a very real and raw outback stay. Large barn style accommodation not a five star resort. Something that offers old fashioned traditions that playstation and nintendo wii will never offer. Let the kids milk cows, shear sheep or just
sit on the verandah and watch the sunset.

I see all of these facilities being NFP and run off the silent wealth I've created.

I hope that may help shed some light on some of the previous comments that may have felt I just want to empty the well and not replenish the water. I have had 3-6 months off work twice in 10 years and already know that no matter my life position I'm a worker! Its just the work I do will be of my own choosing and for the benefit of my goals.

Thanks for the honest comments I'm really enjoying reading this thread

Horses for courses.

I have been around this forum for a while and I don't think there are two people who have achieved substantial success in exactly the same way.

We happen to have 50+ resi doors that we lease out (currently leased, apart from those we are renovating) we also have a commercial warehouse, worth about $1mil which we can't lease out. So which one am I glad that I own?

As SF states there is a level of hands on with the resi but the cash flow is such that if we wanted it could be a lot less hands on. Presently, we have only 3 property managers with one managing the bulk of the properties. Suprisingly he does exactly what I want him to do.

We have invested in property since 1985 aquiring 4 properties by about 1993. At this point we started a business which turned into a very successful venture. It was the excess cashflow from this business that allowed us to aquire the rest of the properties over the next 10 year. We have done many renovations but have never develop from scratch.

At some point during this time I made a decision to stay resi mainly as a consequence of seeing many empty com/ind property and for lease (1995). As my intent was to develop an alternate cashflow I felt a consistent cashflow would be more assured with resi than having com/ind which can go empty for extended periods of time.

As I say horses for courses - these were the decisions I made to arrive at this point in live.

I have read many success stories with many achieving success through property development but in the end I believe they succeed because the path they choose becomes a business and its through sprinboarding the business that they acquire and are able to hold property.

Cheers

Very inspirational.

I'd be more inclined in owning less IP's, but of higher quality. They generally have higher capital growth, better tenants and less management overall.

once you own your house you dont need a lot of income. a decent comm and 1 or 2 resis as backup would be ample income.

50 RIPs... it really does sound like a nightmare

Almost 20

You know guys who have over 50.

One of the guys your catching up with this week has something like 15 unencumberd, and buys atleast 1/2 dozen each month.

craigb said:

good old "freak of nature" Nathen would probly get there?

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yep! he sure will!!!

" Today 03:39 AM" - craigb

Craig, your hours appear to be just as weird as mine...



G

I would be more then satisfied with about 3 houses and a decent block of units/townhouses (plus my PPOR) - all debt free, by my 50's. That gives me around 23yrs to achieve this (easily done). If I end up with more, I'm not going to complain.

But I'm not aiming to be 'rich', just comfortable.

I am with rugrat on this one. We always loosely aimed at having five paid off houses to support us when we retire.