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I'm always a bit skeptical, because they're generally only worth it in areas that have low prices and low rental returns. However as the increase in NRAS payments is only indexed with CPI (I think), this could mean that you're actually losing money by year 10, depending on how much rents...

At portfolio yield of 7.5% you need less than $1.5M in equity to have a passive income of $100k! (I'm assuming that 7.5% is completely cashflow neutral, so it doesn't matter how much your total portfolio is worth.)

Fair enough, point taken. I was thinking of a 100% or 105% mortgage.

Total income - total expenses = $100k If I just looked at the income, I'd be able to retire this year! Unfortunately the banks, councils, real estate agents, water companies, insurers all want some money too. ;) Also a $500k property that's renting for $600/week will never break even, it'll be...

My goal is actually $100k per year in 2011 dollars. I'm aiming to achieve this by 2022. I'm just waiting for my fourth IP to settle and I'll then jump straight into number 5. I will need at least 12 properties to get the cash flow I want, but two of my properties are great for future townhouse...