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.
Are you a property millionaire?
- Thread starter AdrianAppleyard
- Start date
Your criteria excludes those of us who pull equity out of our property portfolio to invest in other asset classes 
To get all the different scenarios was too hard. If you have done that then just put > 5 years, yes.
You got the > symbol around the wrong way, but I get your point. Thanks.
May be excluding ppor is a better indication of the PI success, as the ppor (in capital cities) most likely already > $500K.
Why would that be a better indication? PPOR is an investment in property. The question asks for net property assets. Who cares how much something is worth, you may of only bought it yesterday and still owe 400k.
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.
I considered $2m, but $1m is enough of a platform for people to know they have the base.
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.
Nowhere near millionaire and no real plans to. We have about $200k net now. Even if we fastforward to after our build and had all 3 properties completely paid off AND add the unit I want in the city fully paid off we'd still not be at a million. More like $700k. But we'd be well and truly retired and ecstatically happy if that was the case, just not property millionaires ...
Your right Rob,
Same as definition of rich thread. Its different for all people.
I have a belief all of us on this forum are here to obtain a portfolio to archive our goals, some like debt some dont, some want cashflow some want equity. it doent matter if you have 1mill equity or 10 mill equity or $10k cf+ or $500k CF pa. If you are on the right path, your hitting your goals then thats teh main thing.
I think about who I am comparing myself with when investing, I am only trying to compete with myself and reach new levels to Nathan Birch. Its easy to compare yourself with less and makeyoiurself feel better and its easy to compare yourself with people who have more. But the real thing is making sure your forfilling your own goals and archiving what property investing is for you. Or investing in general to be exact.
Guys like Dazz who hold high end stuff is different to someone who holds only regional properties or owns 1 property outright. Everyone has different skillset and experiences/exposures, if one wishes to adopt a certain outcome or startergy they should indulge what the others are doing. I have had the pleasure of meeting many from SS in person who all come from different walks of life, different challenges and backgrounds, anything can be archived with disipline, commitment and a solid plan.
My past shows me weather someone has family or single there are many variables which play. Whilst the single person may be scruge there is also single person which blows all their money trying to look cool with nice car, nice plasma, nice rented house they live in. The Family may be high income family plowing money off debt, or having a nice boat or investing it. But as long as one is happy with their decissions and where they are heading tahts the main thing.
Weather u got $100k cf+ $5k cf+ $100k or $10mill equity, its all the same at the end of the day as long as we are getting what we want.
Nathan.
Same as definition of rich thread. Its different for all people.
I have a belief all of us on this forum are here to obtain a portfolio to archive our goals, some like debt some dont, some want cashflow some want equity. it doent matter if you have 1mill equity or 10 mill equity or $10k cf+ or $500k CF pa. If you are on the right path, your hitting your goals then thats teh main thing.
I think about who I am comparing myself with when investing, I am only trying to compete with myself and reach new levels to Nathan Birch. Its easy to compare yourself with less and makeyoiurself feel better and its easy to compare yourself with people who have more. But the real thing is making sure your forfilling your own goals and archiving what property investing is for you. Or investing in general to be exact.
Guys like Dazz who hold high end stuff is different to someone who holds only regional properties or owns 1 property outright. Everyone has different skillset and experiences/exposures, if one wishes to adopt a certain outcome or startergy they should indulge what the others are doing. I have had the pleasure of meeting many from SS in person who all come from different walks of life, different challenges and backgrounds, anything can be archived with disipline, commitment and a solid plan.
My past shows me weather someone has family or single there are many variables which play. Whilst the single person may be scruge there is also single person which blows all their money trying to look cool with nice car, nice plasma, nice rented house they live in. The Family may be high income family plowing money off debt, or having a nice boat or investing it. But as long as one is happy with their decissions and where they are heading tahts the main thing.
Weather u got $100k cf+ $5k cf+ $100k or $10mill equity, its all the same at the end of the day as long as we are getting what we want.
Nathan.
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.
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
I'm a fraction short of net 1M (from 5 IP's) and 4.5 years in the game with the B+H approach, but should hit this mark well within the next 6 months though.
Nah nah all good
I wasnt saying anyone was, just stating in general.....
I was following up on robs post in general, and had a bit of time on my hands at that point in the day
Just stating that we should be competitive to ourselves more then anyone else...
I agree with Nathan's post.
While we all have our disagreances, we also all have a few things in common.
The drive of constant improvement does not mean that it becomes myself vs someone else, or that the motivation is for me to become better than someone else.
That will never work, there is always someone better (or appear better), and I'd go to the grave early and frustrated as hell (when I arrive there).
The object is to become as good/big/wealthy as you can be, or want to be and
have the satisfaction that you put in the hard yards and either got there or gave it a darn good shot and enjoyed the journey.
A "property millionaire"?
Well even the term "millionaire" seems is a matter of opinion and numbers jus aint numbers anymore lol. There are many property millionaires (or so they consider themsleves) out there who are poor, though I reckon I'm in the bottom category.
While we all have our disagreances, we also all have a few things in common.
The drive of constant improvement does not mean that it becomes myself vs someone else, or that the motivation is for me to become better than someone else.
That will never work, there is always someone better (or appear better), and I'd go to the grave early and frustrated as hell (when I arrive there).
The object is to become as good/big/wealthy as you can be, or want to be and
have the satisfaction that you put in the hard yards and either got there or gave it a darn good shot and enjoyed the journey.
A "property millionaire"?
Well even the term "millionaire" seems is a matter of opinion and numbers jus aint numbers anymore lol. There are many property millionaires (or so they consider themsleves) out there who are poor, though I reckon I'm in the bottom category.
