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From: John Eagleton
I am 24 yrs of age and have recently become heavily interested in real estate investment. Although I haven't bought a property as yet I am researching and reading anything I can get my hands on at the moment regarding real estate. There was an article I read recently where the author who was 34 years of age wrote that he had acquired 7 properties in 5 years via negative gearing using interest only loans and he said that he was no longer working but still owned all of the properties. The question I have is if he hasn't sold any of the properties, where is his income coming from for him to retire so early? I realise the properties aren't costing him anything or very little but I don't understand how he can retire by having these properties just sitting there. I realise many seasoned veterans of the real estate game visit this forum and I hope you don't think that this is a silly question but if someone out there has the time to explain this concept to me in detail I would much appreciate it.
John Eagleton
I am 24 yrs of age and have recently become heavily interested in real estate investment. Although I haven't bought a property as yet I am researching and reading anything I can get my hands on at the moment regarding real estate. There was an article I read recently where the author who was 34 years of age wrote that he had acquired 7 properties in 5 years via negative gearing using interest only loans and he said that he was no longer working but still owned all of the properties. The question I have is if he hasn't sold any of the properties, where is his income coming from for him to retire so early? I realise the properties aren't costing him anything or very little but I don't understand how he can retire by having these properties just sitting there. I realise many seasoned veterans of the real estate game visit this forum and I hope you don't think that this is a silly question but if someone out there has the time to explain this concept to me in detail I would much appreciate it.
John Eagleton
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