ohhhh my god 10K in water rates? I'm sure there is more info than that little tid bit offered
please tell more?
Who's achieved 50+ properties in their time on earth?
- Thread starter Andrew L
- Start date
ohhhh my god 10K in water rates? I'm sure there is more info than that little tid bit offered
please tell more?$10k wouldn't go far for water rates - about 7 or 8 properties in WA. so with the blue bills filed, next it's the pink and green ones from the council. then the boring one in sep from land tax office. come Jan you can start to keep some rent money... or pay back the bank's interest if you have debt....
Warren buffett
Warren buffett call it 'winning the ovarian lottery'. I agree with sunfish that the many things are down to luck. The luckiest are...
- being born male
- being born white
- being born in a democratic country
- being born tall
Im sure theres a few others...
The rest of US (im 5'9) have to work hard for a living - hehe.
Ozperp reply is perfect - luck helps but its not sufficient.
BTW its the reason Warren Buffett is very pro death taxes - he belives the wealthy should be taxed at their death because passing on silly sums of money to people who havent done the hard yars (won the ovarian lottery) is unfair. Its unfair because our taxes generally come from the poor working class. If we taxed billionaire inheritances at a high level then there would be less stress on the working poor. Sounds fair to me!
Cheers
Aussie
Warren buffett call it 'winning the ovarian lottery'. I agree with sunfish that the many things are down to luck. The luckiest are...
- being born male
- being born white
- being born in a democratic country
- being born tall
Im sure theres a few others...
The rest of US (im 5'9) have to work hard for a living - hehe.
Ozperp reply is perfect - luck helps but its not sufficient.
BTW its the reason Warren Buffett is very pro death taxes - he belives the wealthy should be taxed at their death because passing on silly sums of money to people who havent done the hard yars (won the ovarian lottery) is unfair. Its unfair because our taxes generally come from the poor working class. If we taxed billionaire inheritances at a high level then there would be less stress on the working poor. Sounds fair to me!
Cheers
Aussie
a good reason to stay alive. unfortunately I am a white male... susceptible to melanoma and high cholesterol / diabetes and all sorts of other curses
With regards to being fortunate and having humility, I agree with you that many Aussies have no idea just how blessed they are.
[RANT]I'm sure it influences my position about organic vs conventional food (and alternative medicine, and midwifery vs obstetrics). Man, if we have enough fresh food to eat, we're doing better than half the planet already. To me, insisting on having that food grown in a field trampled only by hippies, gently shooing the insects away rather than killing them, and then transporting it to the local organic food cooperative by bicycle to save the planet, is being more than a bit precious, when so many on the planet couldn't buy a fresh vegetable of any kind. Be grateful to have so much delicious, healthy food available, rather than focus on the fact that it's not perfect!
Many Aussies seem to be rejecting conventional produce, conventional medicine, birth in hospitals with doctors around, and many other practises that have become standard in the West. I don't argue that any of these practises are perfect, but it seems to me that every one of these has saved thousands/millions of lives and enormously enhanced our wellbeing and longevity. So to display hostility and contempt towards "the system" that has made our lives so abundant - as so many advocates of organic produce, alternative medicine, and home birthing seem to do - smacks of the height of ingratitude, and a sense of entitlement that I find breath-taking.
Sorry to take your breath away but my children were born at home and damned if I'll let anyone say I'm not entitled to this choice. To describe homebirth as an act of hostility and contempt simply shows a complete lack of understanding on your part. Far from ingratitude, everyday I give thanks that my births were such that this was possible. It is not midwifery vs obstetrics, the two compliment each other. Each has a role. It is about choice. As an Aussie I feel blessed to have choice.
I also choose to grow my own organic fruit and vegetables and to trample the groung with my hippy feet. Do you realise big multinational companies are breeding crops that cannot be grown from saved seed, risking the foodsource of millions of people who have to grow their own food to survive.
Your line of thinking suggests that noone should own more than one property because millions of people on this planet have no roof over their heads. You do own more than one don't you?
Just because a person makes choices that aren't conventional (whatever that is) doesn't mean they have no sense of humility or that they are ungrateful. We wouldn't be the lucky country without the right to choose.
[RANT]I'm sure it influences my position about organic vs conventional food (and alternative medicine, and midwifery vs obstetrics). Man, if we have enough fresh food to eat, we're doing better than half the planet already. To me, insisting on having that food grown in a field trampled only by hippies, gently shooing the insects away rather than killing them, and then transporting it to the local organic food cooperative by bicycle to save the planet, is being more than a bit precious, when so many on the planet couldn't buy a fresh vegetable of any kind. Be grateful to have so much delicious, healthy food available, rather than focus on the fact that it's not perfect!
Many Aussies seem to be rejecting conventional produce, conventional medicine, birth in hospitals with doctors around, and many other practises that have become standard in the West. I don't argue that any of these practises are perfect, but it seems to me that every one of these has saved thousands/millions of lives and enormously enhanced our wellbeing and longevity. So to display hostility and contempt towards "the system" that has made our lives so abundant - as so many advocates of organic produce, alternative medicine, and home birthing seem to do - smacks of the height of ingratitude, and a sense of entitlement that I find breath-taking.
Sorry to take your breath away but my children were born at home and damned if I'll let anyone say I'm not entitled to this choice. To describe homebirth as an act of hostility and contempt simply shows a complete lack of understanding on your part. Far from ingratitude, everyday I give thanks that my births were such that this was possible. It is not midwifery vs obstetrics, the two compliment each other. Each has a role. It is about choice. As an Aussie I feel blessed to have choice.
I also choose to grow my own organic fruit and vegetables and to trample the groung with my hippy feet. Do you realise big multinational companies are breeding crops that cannot be grown from saved seed, risking the foodsource of millions of people who have to grow their own food to survive.
Your line of thinking suggests that noone should own more than one property because millions of people on this planet have no roof over their heads. You do own more than one don't you?
Just because a person makes choices that aren't conventional (whatever that is) doesn't mean they have no sense of humility or that they are ungrateful. We wouldn't be the lucky country without the right to choose.
You are entitled to this choice, and I think your attitude is completely appropriate. You're obviously not one of the people that I'm referring to. Many advocates of home birth do not share your views (about the two being complementary), unfortunately, and say malicious things about OBs, attributing intervention (when necessary) to some kind of ill-will on an OBs part, rather than an effort to save lives.
If you want to grow your own organic food, power to you! But it's precisely because of my concern for the food source of people in the third world that I support the fertilisers and pesticides which allow their land to support them. We obviously see this differently, and that's OK.mystique said:
I have a science degree - majoring in genetics - and am well-familiar with GM foods, and am pro-GM. If you're not, that's OK. I guess my point is that if well-informed people can take opposing views with the same goal (food for the third world), then it's not clear-cut, is it? Yet many "organic" advocates insist their choice is ethically superior, when I don't believe that it is.You've missed the point. It's not about what you have or don't have; it's about your attitude towards it. There always will be inequalities in the world, and I don't even think it's beneficial to try and get rid of that, but if you're blessed to have more than most, I feel that your moral obligation to those who have less, is not to get rid of your excess, but at least to appreciate it.mystique said:
And I do feel incredibly grateful that I have sufficient resources to consider investing.
I agree with you entirely. I don't believe I said anything that contradicts any of that. (And most of my choices are unconventional, too.mystique said:
)
I'm definately anti GM foods.
The rotten stuff just leads to increased production, meaning lower prices for farmers. It puts back the date even further when food supply can't keep up with demand.
Ban it all right now I say.
Problem is though, half the world is using it, so for us to compete, we have to also. Banning GM foods in half the world is just pointless, as it just punishes the farmers in that part of the world not using the stuff, as those not using GM crops then have to use more herbicides and pesticides, instead of being able to grow roundup ready, insect resistant crops.
See ya's.
I don't care where the food comes from or how it has been grown, but the tasteless garbage in the supermarkets disguised as "fresh produce" should be given to swine & cattle not humans.
If that's the product of GM, then it's only purpose is monetary gain and nothing else.
It seems the populous has been conditioned to eat tasteless odorless fruit & vegs because it's cheap to produce...until there is no more competition.
And we now see the price we need to pay for the swine food.
If that's the product of GM, then it's only purpose is monetary gain and nothing else.
It seems the populous has been conditioned to eat tasteless odorless fruit & vegs because it's cheap to produce...until there is no more competition.
And we now see the price we need to pay for the swine food.
I fail to see how a person's personal stance on issues such as homebirthing, etc, bare any real relevance on Property investment. People invest in property for all sorts of reasons, and set their goals accordingly - but we all hold differing personal and political beliefs and veiws, which might be better discussed as part of another thread perhaps, rather then this one???
I for one can say that my veiw on obs / midwives, organic food, animal rights has NO bearing on the number of properties I wish to own.
I for one can say that my veiw on obs / midwives, organic food, animal rights has NO bearing on the number of properties I wish to own.
We have 9 separate properties, which house 33 families plus our PPOR which has 5 units. (young adult kids each live in a unit) So that is 33 income streams.
Yes it is a full time job for Rob, who maintains the properties and deals with the tenants.
My job is to fill vacancies and do the financial side of it.It has gotten to the point, where I will be quitting my employed job in about 9 months.At the moment I have my daughter doing our filing, and hoping eventually she will be taking on more responsibility.
I like that our properties are very different to each other.
My next project will be a share house in winter and a B&B in summer.
I have no plans on stopping, so we will be close to 50 properties or "income streams" soon. It isn't about the money, otherwise I would want to stop now. I like the challenge, and keeps my mind active.
If you have a B&B, you can do a lot of business travel.They have conventions
Yes it is a full time job for Rob, who maintains the properties and deals with the tenants.
My job is to fill vacancies and do the financial side of it.It has gotten to the point, where I will be quitting my employed job in about 9 months.At the moment I have my daughter doing our filing, and hoping eventually she will be taking on more responsibility.
I like that our properties are very different to each other.
My next project will be a share house in winter and a B&B in summer.
I have no plans on stopping, so we will be close to 50 properties or "income streams" soon. It isn't about the money, otherwise I would want to stop now. I like the challenge, and keeps my mind active.
If you have a B&B, you can do a lot of business travel.They have conventions
I'm juggling 3 now , I only want one or two more if that which I may even build up out of what I have now. Along the way mixing and matching , selling offs.
I don't see the need or have the inclination to hustle any further than that. You can set yourself up for life just by doing good stuff with the right few or even just one property rather than buying 20 lesser potential numbers.
Or what about developing even just one good warehouse in the right spot , income for life , know a guy that owns an absolute goldmine. Knew sorry , he died .
He and his family lived very simply up in Brissy but when he died they found out he had over 3 million in the bank , all income from the warehouse over about 35 yrs but the real catch was the building and land were now worth around 5 million.
But 50 , couldn't stand it .
Cheers
I don't see the need or have the inclination to hustle any further than that. You can set yourself up for life just by doing good stuff with the right few or even just one property rather than buying 20 lesser potential numbers.
Or what about developing even just one good warehouse in the right spot , income for life , know a guy that owns an absolute goldmine. Knew sorry , he died .
He and his family lived very simply up in Brissy but when he died they found out he had over 3 million in the bank , all income from the warehouse over about 35 yrs but the real catch was the building and land were now worth around 5 million.
But 50 , couldn't stand it .
Cheers
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I severely dislike managing properties. Even managing the PMs for 50 properties would severely impinge on my "retirement" lifestyle. It would at least be a big part time job at a time when I should be enjoying the fruits of all that investing. How can I go sailing around the world while doing all that work? To me, managing properties is not fulfilling, enjoyable or anything of the sort - the fact that they belong to us makes me do it but it's not something I look forward to. The whole idea of investing to me is to enable me to spend my time on the things I do find fulfilling.
Therefore, if I want to enjoy my exit from wage slavedom, we have to formulate a strategy that gives at least the same level of exposure, a better income and fewer hassles. So we have been diversifying into shares and hopefully CIPs (if I can get my act together). Need to start taking bigger and different bites of the cherry or I'll only end up buying me another job... one that's probably less interesting than the one I already have!
Therefore, if I want to enjoy my exit from wage slavedom, we have to formulate a strategy that gives at least the same level of exposure, a better income and fewer hassles. So we have been diversifying into shares and hopefully CIPs (if I can get my act together). Need to start taking bigger and different bites of the cherry or I'll only end up buying me another job... one that's probably less interesting than the one I already have!
Hi Daz,
Having done just that I can attest to Andreas' story being a very inspirational one. He's one of the stars on here that I've had the privelege to get to know personally over the years. He and JoannaK and a few others have helped me to overcome my self-limiting doubts and develop a strategy that I know will get me where I want to go.
I won't spill the beans on any of his story as that's his business but suffice to say that it was equal parts hard work and equal parts astute timing. As with all success, you need to be in it to win it.
Cheers,
Michael
Thanks for the last few posts pulling this thread back on to my original question. It was starting to look like a train wreck
Michael by the looks of your location your off the northern beaches now ? I read a while back of your QLD adventure. All the best with it. If you need someone to take some photo's of the mona vale site while your gone happy to help.
I look forward to hopefully reading abit more of handyandy's success as well as Joannnak's
Cheers
Andrew
Michael by the looks of your location your off the northern beaches now ? I read a while back of your QLD adventure. All the best with it. If you need someone to take some photo's of the mona vale site while your gone happy to help.
I look forward to hopefully reading abit more of handyandy's success as well as Joannnak's
Cheers
Andrew
oh yeah, back to the topic.
Compliments HandyAndy.
As far as managing them it really depends on the type of properties.
I've owned IPs that I've never sat foot in and never spent more than 20hrs a year worrying about.
Just pay the bills, and the money's in the bank.
Others are a constant pain in the A$$.
HA is obviously a business owner and has taken the same approach in running his RE business.
How many hours a month should you spend on each IP on avg?
My answer is not many (1hr imo). And the more you have with one PM, the less time you you should be spending.
The issue that keeps coming up is that what most people regard as an investment, is'nt an investment at all but a time and money expense bought with the hope of it one day becoming an investment.
A piece of RE that demands constant disbursements in both monetary & time terms. Just like the struggling small biz onwer who thinks they have to do everything themselves, the noob IP owner goes the same route.
Sure that's where we all start, but that sure is'nt the arrival.
An investment works for you, not viceversa. And until that point, it's a liability. And yes bad debt.
Compliments HandyAndy.
As far as managing them it really depends on the type of properties.
I've owned IPs that I've never sat foot in and never spent more than 20hrs a year worrying about.
Just pay the bills, and the money's in the bank.
Others are a constant pain in the A$$.
HA is obviously a business owner and has taken the same approach in running his RE business.
How many hours a month should you spend on each IP on avg?
My answer is not many (1hr imo). And the more you have with one PM, the less time you you should be spending.
The issue that keeps coming up is that what most people regard as an investment, is'nt an investment at all but a time and money expense bought with the hope of it one day becoming an investment.
A piece of RE that demands constant disbursements in both monetary & time terms. Just like the struggling small biz onwer who thinks they have to do everything themselves, the noob IP owner goes the same route.
Sure that's where we all start, but that sure is'nt the arrival.
An investment works for you, not viceversa. And until that point, it's a liability. And yes bad debt.
ohhhh my god 10K in water rates? I'm sure there is more info than that little tid bit offered
Ausprops got it in one. Water Corp Rates are like our council rates. They all seem to get their fair share. Nothing more to add except that owning 50+ IPs is no longer a long term aspiration.
Wow your original question was a loaded one, and I'm surprised you even got any response.
Seems to me most people have a real "issue" in stating numbers. I'm happy to answer your question (13 excluding PPOR to date) but I guess that probably doesn't sound as impressive as 50+ and frankly I'm not bothered about numbers. I'd much rather have say for example 5 mega valued properties than say 50 so-so valued properties.
Call me crazy, but I see nett worth as more indicative of one's success rather than the actual number of properties. In fact, how do you differentiate; that is, someone could have one block of 50 apartments; is that just as good or better than the next guy???
There are (or there were) people here who could claim holding the sort of numbers you ask about, but I'm afraid the cumulative value of their 50 properties would not even scratch the surface value of say another person's.
What I'm getting at is simple. Don't judge by numbers, that alone is a poor indication of wealth. What I'd be asking is:
Do YOU (not your bank) own enough property (commercial or residential) to sustain your financial freedom and lifestyle???
If you can answer "yes" to that, in my books, you're doing (not just okay) but AMAZINGLY well; and I for one, applaud your good work.
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