I started investing in 2010 as a 27 year old and set my goal as being able to retire in 2022 (on my 40th birthday) with a $100k pre tax income from properties.
At the time I only had around $50k to my name, which was just enough to get me started.
Now I'm just over four years into my 12 year journey and have 5 IPs and I'm looking at getting another two or three cheapies later this month.
While the money I make out of it so far is little, I can start seeing how my deposits seem to accumulate a bit quicker now. Plus using the equity that I gained in some of my other properties helps a great deal too.
I've made similar mistakes to most people, including one of my five IPs being a bit of a dud, but even with that it's looking to me that I might just be able to surpass my goals.
How long do you think it will take you (and what are your goals)?
Or if you have sufficient passive income to retire already, how long did it take you?
At the time I only had around $50k to my name, which was just enough to get me started.
Now I'm just over four years into my 12 year journey and have 5 IPs and I'm looking at getting another two or three cheapies later this month.
While the money I make out of it so far is little, I can start seeing how my deposits seem to accumulate a bit quicker now. Plus using the equity that I gained in some of my other properties helps a great deal too.
I've made similar mistakes to most people, including one of my five IPs being a bit of a dud, but even with that it's looking to me that I might just be able to surpass my goals.
How long do you think it will take you (and what are your goals)?
Or if you have sufficient passive income to retire already, how long did it take you?