A million isn't much these ways but it's a handy start. I just want to get a gauge on what percentage of posters have passed the million mark. This just includes all your properties (inc ppor) total value minus your loan. No other assets included.
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May be excluding ppor is a better indication of the PI success, as the ppor (in capital cities) most likely already > $500K.A million isn't much these ways but it's a handy start. I just want to get a gauge on what percentage of posters have passed the million mark. This just includes all your properties (inc ppor) total value minus your loan. No other assets included.
May be excluding ppor is a better indication of the PI success, as the ppor (in capital cities) most likely already > $500K.
But what is important is how much they own/owe on the PPOR. Given that most people access equity in the PPOR to buy IPs, the PPOR needs to be included.May be excluding ppor is a better indication of the PI success, as the ppor (in capital cities) most likely already > $500K.
That's at a mininum. More like to be 3 or 4 times that. Maybe we should pitch in a buy a suburb like Lalor Park and develop it.cool so we have established there is $42 million worth of equity here fo us to JV and buy some serious properties
Good work with the portfolios.
Just crunching the numbers we are just over the 1m net mark as of 2pm today when our latest purchase settles...
Here of SS we often talk about net worth, total assets, borrowings and how much income is needed per annum to maintain a certain "lifestyle".
This post got me thinking about the huge difference being single, having a partner or kids makes to the whole equation.
The annual income required to maintain a given lifestyle (annual OS holiday, new car every 3-5 years etc) for a single person is vastly different to that required to maintain the same lifestyle for a couple with 2 kids going to private school.
Likewise, having a net worth of $1m puts a single person in a different financial position to a couple having a net worth of $1m.
What's my point? I'm not really sure, but I think it's about the relevance of the numbers ($1m net assets, $100,000 pa passive income etc.) as it's the context that really determines the relevance of these numbers, not the numbers themselves.
Just my 2 cents worth.
I'd suggest you have totally misinterpreted the OP.Its easy to compare yourself with less and makeyoiurself feel better
Most likely timing. I don't think a lot of people who are doing b+h would crack the mill in the last 5 years. Had you started 10 years ago you probably would have done the $1m inside 5 years simply because all markets were firing.Not me, just a plodder. Under $1M and longer than 5 years. Hence, ignore everything I say, I'm not the role model you are looking for, move along.... move along...
But ask me again in 12 months time...
Cheers,
Michael
Most likely timing. I don't think a lot of people who are doing b+h would crack the mill in the last 5 years. Had you started 10 years ago you probably would have done the $1m inside 5 years simply because all markets were firing.
I'd suggest you have totally misinterpreted the OP.
it's a simple snapshot designed to show one arbitrary view of the posters here. Given that nearly everyone who has voted is anonymous, there is no comparing going on, and no one is blowing their trumpet. You read a lot more into it than was there. I wouldn't have thought it was worth writing an essay on.