7 days a week for 10 years as a neurosurgeon must have done his head in
What are some of the "exaggerated stories" you've heard from investors/magazines??
- Thread starter beachy
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7 days a week for 10 years as a neurosurgeon must have done his head in
Would have been suffering from burnout .
He left a lot of puzzled people as he didn't write notes , so people weren't always sure what he did to them .....
I tried to find out a couple of times , then gave up
Just googled his name and he doesn't appear to be practicing
Cliff
I remember seeing one a while back in API where a couple had managed to build a $20 or $30,000,000 portfolio over a few short years. They earn over $1 Million per year in wages 
I think the average investor requires smart choices but most importantly time in the market before he/she has the ability to make any serious wealth. They then can invest it into more income producing investments but require the capital (time) before doing so.
I think the average investor requires smart choices but most importantly time in the market before he/she has the ability to make any serious wealth. They then can invest it into more income producing investments but require the capital (time) before doing so.
The thing I read about contantly is people who have 2,3 even $4m portfolios....but when you look at their LVR it is usually 80%+.....very little room to move.
The other thing I read is $800k CF...where they are predominately exposed to more volatile assets - i.e. mining towns or regional areas. Quality of assets is also very important because when it come to sell...can you get out?
One other thing I see is people who inflate the value of their assets...very funny to see...
The other thing I read is $800k CF...where they are predominately exposed to more volatile assets - i.e. mining towns or regional areas. Quality of assets is also very important because when it come to sell...can you get out?
One other thing I see is people who inflate the value of their assets...very funny to see...
"Young millionaires" = Dual income couple in early 30s holding $1,000,005 property at 80%.
"Low income investors" = Gets $200k inheritance, is on $60k, buys two properties, success. Or, starts on $35k in 2000, now on six figures and holding 5 IPs.
"From zero multi millionaire in 5 years" = Anesthetist on $250k buys 5 OTP properties, hasn't settled on half of them yet.
"Low income investors" = Gets $200k inheritance, is on $60k, buys two properties, success. Or, starts on $35k in 2000, now on six figures and holding 5 IPs.
"From zero multi millionaire in 5 years" = Anesthetist on $250k buys 5 OTP properties, hasn't settled on half of them yet.
Maybe...very few people hang in for 10-20yrs to build real wealth.
Lot of stories on this site of people who destroy wealth by selling down as they tinker or get impatient.
Would much prefer to read about someone who went from 1,2,4,8, 16million in property and with an LVR of 50% or less....over 20 years...and how they got there.
Lot of stories on this site of people who destroy wealth by selling down as they tinker or get impatient.
Would much prefer to read about someone who went from 1,2,4,8, 16million in property and with an LVR of 50% or less....over 20 years...and how they got there.
It seems property investing is the easiest way of wealth creation for the patient and sensible ones. Build a portfolio, hold on to it and pay down debt using the inflation (rents going up). Say a couple buy a 4 or 5 properties and keep them for 25 years. If they are bought with some research and common sense, they will double at least twice in 25 years. Sell one (PPOR to avoid CGT) and move into another one and keep the rest debt-free and live off the rents they give. Any superannuation will be the bonus. Of course this is the laziest way. A bit more aggressive investing will get a bigger portfolio.
I remember seeing one a while back in API where a couple had managed to build a $20 or $30,000,000 portfolio over a few short years. They earn over $1 Million per year in wages
I think the average investor requires smart choices but most importantly time in the market before he/she has the ability to make any serious wealth. They then can invest it into more income producing investments but require the capital (time) before doing so.
Assuming one million in pre-tax wages, which means approx 510k per year after tax - how does one build a $30,000,000 portfolio in a few short years?
Assuming 80% LVR, you still need 6 mil in cash?
I think he was earning closer to 3 mil per year and owned several macdonalds.
I've seen a few articles where the folks involved are very pleased that they've acquired a property, and done a reno and will sell the house for a higher price than what they bought it for, but haven't realized that courtesy of buying and selling costs, they'll actually make a loss. It's a bit scary seeing such articles get published - I worry other folks will jump in trying to copy and lose money themselves as well.
I had a subscription toone of the property investor magazines a few years ago but didn't bother renewing as I didn't think there was much useful information within.
It had three major sections:
1) Stories abgout property investors that showed portfolios that I wouldn't consider particularly well chosen
2) Tips, many of which were either made up or obvious
3) Strategy stories, which tended to get a bit repetitive over time.
Not really for me. I've learnt more from arguing with people on forums than from reading commercial media publications.
It had three major sections:
1) Stories abgout property investors that showed portfolios that I wouldn't consider particularly well chosen
2) Tips, many of which were either made up or obvious
3) Strategy stories, which tended to get a bit repetitive over time.
Not really for me. I've learnt more from arguing with people on forums than from reading commercial media publications.
Yeah me too.
I bought an Australian Property Investor magazine at the airport today just to pass the time while waiting to board, and the content is much the same as it was a few years ago.
Though there's a few more mining town property success stories in there these days.
And lots of stories of wanna-be property developers looking for a fast-track to wealth.
And that the value of the property probably would have gone up that much anyway if they'd done nothing.
Thats the one, near Penrith.
I saw one about a woman in her 50s who went from zero to 1 million equity in a year. She got divorced and kept the house.
So I really need a suga momma. Probably fastest road to wealth and financial independence for me.
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