another im going to retire by 30 article

[TMNT]

groan, another one

http://www.whichinvestmentproperty....paign=WIP_Bulletin28_05_2015&utm_medium=email

I really admire her guts and confidence, I really do

but retiring by the end of 2015 with 1 IP is laughable

are these magazines egging her on!?!?!?!

I think goals should realistic, not a dream

 

[MRO]

Surely it is a typo.

I love the first/only comment

 

[pinkboy]

Retire on property in 12mths?

Sign me up!

pinkboy

 

[mja]

I'd love to see a follow up article in 12 months time.

 

[Ace in the Hole]

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?

 

[jerrybee]

I love the first/only comment

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

 

[skater]

but retiring by the end of 2015 with 1 IP is laughable

What's even more laughable is that it's a joint venture!

 

[redwing]

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

At just 30, Billy Hadi Sabruta has a property portfolio worth more than $6.2 million. Yet four years ago a $108 mistake almost stopped him in his tracks after just one purchase

?A $108 bill almost ruined my portfolio?

Though from memory he was/is an engineer making good coin also

 

[Nick Valsamis]

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.

 

[rchad]

This is the very reason I cannot buy those mags anymore

 

[skater]

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

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

 

[willair]

but retiring by the end of 2015 with 1 IP is laughable

are these magazines egging her on!?!?!?!

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

 

[Brady]

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

Still pretty handy asset base at age 30

 

[MTR]

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

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.

 

[BayView]

Still pretty handy asset base at age 30

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?

 

[Ace in the Hole]

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....

 

[spludgey]

This is the very reason I cannot buy those mags anymore

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!

 

[Brady]

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?

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.

 

[SWS]

Maybe this article may give some insight ...

http://www.smartpropertyinvestment.com.au/advice/investor-stories/13983-the-million-dollar-man

 

[jerrybee]

Maybe this article may give some insight ...

http://www.smartpropertyinvestment.com.au/advice/investor-stories/13983-the-million-dollar-man

Hum, 2013 was around the time a lot of these mining towns started to fall off a cliff. Wonder how he's doing now.