Thats a lot of time and effort invested to get 4k. I wonder what is their hourly rate for their efforts and return on time invested / profit margin.
Better hourly rate than Amway
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Thats a lot of time and effort invested to get 4k. I wonder what is their hourly rate for their efforts and return on time invested / profit margin.
Luck plays a massive part at that level.
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This is what I have always thought. I look at the top 20 wealthiest people in australia and find that none of them have got there by building a humongous resi portfolio by neg gearing. I wonder whether any of them hold any resi IPs at all. In contrast, some of them hold massive comm IP portfolios and is the reason why they are on the top 20 list.
I agree, no one really needs more than a couple of mil and a good house. However, I think that the top 20 are there not because they need a couple of billion but enjoy seeing the success of their business ventures wherein the money is like the scoreboard. My question is whether passive resi property investment even when done successfully using neg gearing is a good enough investment / business model to bring people into great wealth.
It's only when you get older and look back,that you may well find that there is no such thing as luck as we al think we know it,as you will find over time your own "Character"defines your own "Destiny" ..imho..I hope that luck only plays a small part. Maybe determination, self belief, perserverance, mitigated risk and some sound underlying business principles should form the majority role?
Resi IPs can be a career if you love it, or simply a tool for making money. I'm lucky in that I love it (especially developing) and it makes money for me.