another im going to retire by 30 article

Discussion in 'Investor Psychology' started by TMNT, 28th May, 2015.

  1. TMNT

    TMNT Member

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  2. MRO

    MRO Member

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    Surely it is a typo.

    I love the first/only comment
     
  3. pinkboy

    pinkboy SS Lookerafterer

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    Retire on property in 12mths?

    Sign me up!

    pinkboy
     
  4. mja

    mja Capitalist.

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    I'd love to see a follow up article in 12 months time.
     
  5. Ace in the Hole

    Ace in the Hole Don't compete, Dominate !

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    So who's actually going to do the work in this country in a year or two if retiring financially free is so fast and easy?
     
  6. jerrybee

    jerrybee Member

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    yeah lol, I assume it's one of you guys
     
  7. skater

    skater Capitalist

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    What's even more laughable is that it's a joint venture! :eek:
     
  8. redwing

    redwing Progress Not Perfection

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    1 year is a bit much, it took another guy on the site at least 4 years to amass $6.2M +

    ?A $108 bill almost ruined my portfolio?

    Though from memory he was/is an engineer making good coin also :confused:
     
  9. Nick Valsamis

    Nick Valsamis Vantedge

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    So the deposit and stamp duty is covered. Bought under value which will create positive cash flow. Maybe 3k cash flow to retire on I guess.
     
  10. rchad

    rchad Renee

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    This is the very reason I cannot buy those mags anymore
     
  11. skater

    skater Capitalist

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    Yes......his portfolio is worth that, HE is not. They completely omitted to say how much he owes the bank(s).
     
  12. willair

    willair xx

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    Nah, this is the modern world and the way people think while trying to retire by 30,without being envied or admired..
     
  13. Brady

    Brady Big 4 Banker

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    Still pretty handy asset base at age 30
     
  14. MTR

    MTR Bling Bling

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    Meaningless unless we know net value
    Debt is debt, seems people who read this stuff are impressed with debt and ignore what is the true value. Smoke and mirrors.
     
  15. BayView

    BayView Member

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    Depends.

    A $6m portfolio for a single average income family with a couple of kids and starting from a position say; renting first, or even a modest home with a mortgage - fantastic achievement and I would be impressed.

    A single, possibly living at home, higher earning engineer, who spends little money (don't know that this is his life, but you get the idea) - still a good result, but a huuge advantage of cashflow to service loans..

    As others have mentioned; what's the LVR?
     
  16. Ace in the Hole

    Ace in the Hole Don't compete, Dominate !

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    It's no big deal.
    If the property thing don't work out she can just get a contract as the next big Super Model, make a quick couple mil in 6 months and retirement goals accomplished.
    There are many ways....
     
  17. spludgey

    spludgey Member

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    I had an ad for this make it's way into my inbox, sent by API.

    Positive cashflow at 5.1% for an apartment. And it's being sent by an investment property magazine. Shows you how much you should trust them!
     
  18. Brady

    Brady Big 4 Banker

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    Just because they have the means of a high paying job, doesn't mean they aren't as impressive. Often you see those with higher incomes 'flaunt/flash it' and send the extra disposable income on really disposable things. A $6M asset base with some reasonable growth even at 100% LVR could easily be $6M net equity by age 45. Also see a lot who look at their high paying job as their 'investment' not truely using it to their advantage.
     
    BayView and S.T like this.
  19. SWS

    SWS Member

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  20. jerrybee

    jerrybee Member

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