Understanding How LOE works!

[DebtEquity]

Hi can anyone advise me on where or who i can ask questions about LOE.

I am quite keen to understand how long it would take to build a property portfolio on an average wage.

Would you also buy shares and managed funds together while building your portfolio. Or would you build portfolio first then build with shares etc.

How many properties do you need to be comfortable enough to live off your properties.

How do most people work it out and understanding the mindset who can you talk to.

thanks for any advice

 

[alexlee]

The biggest question: how much income do you need to be comfortable? $50k? $100k? $200k? $1m?
Alex

 

[DebtEquity]

Hi Alex thanks for the quick reply.

I belive that between $80-100K would be enough for myself and Family. Is this achieveable within say 10years?

 

[bradje]

Have a read of the Michael Yardney books. They have answers to some of your questions.
Also the Property Investor Mag.

U can get both from Local Library if u wish...

JB

 

[islandgirl]

Try going onto the invested site. They have some good articles on LOE
www.invested.com.au

 

[BoatBoy]

Here specificaly

http://www.invested.com.au/76/

Dave

 

[ffc1883_1996]

Have a read of the Michael Yardney books.

Furthermore, "How to Achieve Wealth for Life" by Ed Chan and Tony Melvin gives an excellent explanation of LOE.

 

[JoannaK]

why don't you just try searching this forum...it has all the answers to your questions plus some.

 

[Ausprop]

trying to generate an income from resi property is like using a hammer to drive in a screw, it's the wrong tool

 

[oc1]

trying to generate an income from resi property is like using a hammer to drive in a screw, it's the wrong tool

What's the right tool Ausprop?? Screwdriver?

 

[Rixter]

trying to generate an income from resi property is like using a hammer to drive in a screw, it's the wrong tool

Hammer's working just fine here.

Hmmmmm, they say a poor/inexperienced tradesman shouldn't blame his tools!

 

[bradje]

amazingly comprehensive list of books etc is at

http://www.somersoft.com/forums/showthread.php?t=9652&highlight=napoleon+hill

one of the most valuable posts ever, IMO

cheers,
JB

 

[alexlee]

I've always thought of LOE as a more advanced level thing, to be honest. i.e. it's not something you really have to seriously consider until a bit later in the game when you at least have a couple hundred k (or more) in equity and you're comfortable with property and debt. In the early stages, it may make more sense to focus on simpler things like the different types of loans, property selection, etc.
Alex

 

[BoatBoy]

Hammer's working just fine here.

Hammertime

http://www.youtube.com/watch?v=JomHWt7p6-c

Dave