Who's achieved 50+ properties in their time on earth?

Discussion in 'Innovative Techniques' started by Andrew L, 29th Jul, 2009.

  1. RedCat

    RedCat Member

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    Interesting post. I have about $700K in equity and just over $2.5m in property but last 3 IPs were only purchased in last two months. I've been working on my long term plan this week and originally I wanted $5M in property by 2015 (I think value counts more than quantity) and $2M in equity but I think it might be a little high.

    I'm now thinking about pulling back a bit. My strategy is to start selling in 2022 (when I hit 50), living on the $$ until Super kicks in. Having reworked the numbers recently I think that I only need one more and it will be more than enough. I do NOT have children, therefore no one to leave a huge portfolio to and I'm certainly not greedy.

    I have allocated a portion of my $$ in my will to animal shelters etc and would certainly like to think I can help in that area and maybe that's a motivation to build it to the original plan - simply give some to charity because we'll have more than enough for mine and hubby's needs.
     
  2. Dazz

    Dazz Banned

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    I'd say that sounds very bl00dy impressive. Well done indeed. Damn site more than we have, and by the sounds of it, your LVR is bumping along the bottom as well.


    I reckon Andrew could learn a bunch from you.


    Congratulations Monopoly, you would be right up there with the top 1% nationally of players in this property game I'd reckon.
     
  3. Piston Broke

    Piston Broke Banned

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    Congrats to Monopoly indeed!
    Though I'm now wondering what nett equity value would put someone in the top 1% (or 5%) :confused:
     
  4. kissfan

    kissfan Member

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    Woof woof, don't forget me. I'm cute and cuddly.

    Regards
    Marty
     
  5. Andrew L

    Andrew L Chasing Dreams

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    Thanks Monopoly, a lot of that answer is a great help. My question is not for the my level of investor, but the lets say "senior" investors. I'm not trying to be a Steve McKnight and have 100 properties in 3 years????

    I like yourself by the sounds of it am far more interested in quality over quantity. But thats not to say I don't see 50 properties as my unbelievable aim, especially as at least 1/3 will be commercial.

    You can say that again DAZZ. Already have from just a few short posts i've read of Monopoly's.
     
  6. Monopoly

    Monopoly Member

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    Geez...Thanks Dazz, I'm speechless; seriously coming from a commerical tycoon such as yourself, your words really knocked me off my stillettos!! I am deeply humbled. :eek:

    My LVR is relatively low (probably too much so) a deliberate and probably not the wisest of moves tax-wise, I've never denied that, however it works well for me and I don't mind the fact that my provisional tax each year is higher than it should be, nor that my accountant keeps nagging me each year to up my debt level, which up until the last few years was virtually 0% but thanks to his constant bickering, I've conceded defeat and heeded his (knowledgeable) words. I guess if I had been trying to make it to beyond just financial freedom, it may have changed this scenario and I wouldn't have been as reluctant to go into debt, but as it is (good debt is necessary especially if you're not a PAYG worker) I know it is the better/smarter option.

    As for being in the 1% of national wealth heavy-weights; hardly (I may even on occasion be guilty of muttering "I wish" but in all honesty I don't (mind that I'm not or can't). Those elite few who can are more your Packers, Bonds and so on, and although my nett worth is in the millions, it is hardly in the billions hence I can't come close to comparing my wealth to the likes of those players!! :eek:

    As for Andrew, he's doing okay and knows what I think (of him). ;)
     
    Last edited: 31st Mar, 2010
  7. Monopoly

    Monopoly Member

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    Andrew, what many people in here have and which is of greater worth than their bank balance or portfolio size is KNOW-HOW and their willingness to share that with others. By all means listen to them, read their posts, learn from what knowledge they can impart, but...Never underestimate the lessons you yourself have learnt in the transactions you've participated in. Regardless of whether you bought a lemon and it cost you a packet to keep and (hopefully) offload, or whether you bagged a bargain and sold it for a killing, it's all worth a big FAT ZERO if you can't continue/repeat the (preferrably latter) process and maximise your opportunity for even further growth.

    If 50+ properties is your aim, then go get them; never loose sight of that number and only relax a little when you get to 49. And judging from the enthusiam demonstrated in your posts, I believe you'll get there.

    Although my target numbers related more to actual $$$ than physical property numbers, if I can do it, trust me ANYONE can. :)
     
  8. jacbmw

    jacbmw Member

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    More to the point, if you have got to 50+ resi that all fit the similiar type of mould and this is your ongoing investment strategy, I would go as far as to say that you have done yourself a dis-service.

    With this as your sole focus, I would say you would have passed over many other profit making vehicles (ie. Commercial and resi/comm development just to name the obvious) that your net worth could allow you investigate.

    Opportunity lost...
     
  9. aussierogue

    aussierogue aussierogue

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    Great stories in this thread. Well done HandyAndy and the rest - amazing stuff.

    7 years ago we (wife and I) had nothing to show except lots of travel stories and a highish wage. Now we have 2 investment properties, lowish lvr and approx 1 mill in equity.

    Aiming for 2 Mill Net over the next 5 years. Maybe add one more 1 bedroom flat.

    Want 80-100k cashflow per year indexed from these investments.

    People have done much better than me. Im inherantly conservative and believe it or not when we started investing the world was already talking bubbles. So we tread carefully and still do.
     
  10. skater

    skater Capitalist

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    I believe this to be a quite niave and judgmental statement. Investing is all about finding not only what works for you, but also what gives you good sleep at night factor.

    I believe anyone that has a Resi portfolio of that size has done remarkably well. If they have no interest in pursuing other avenues, or have tried and failed, well, that is their choice. You don't get a portfolio of that size being oblivious to other vehicles.
     
  11. Monopoly

    Monopoly Member

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    Well said Skater, I'd give you kudos but apparently I can't do so again just yet. :(

    Making money isn't just about riding one vehicle. But if your tooshie cheeks feel good (are comfortable) on a seat that happens to be in the (one) vehicle that's getting you to the destination you want to reach, why move unless you want to get there faster and the vehicle isn't capable of hitting the speeds you want to reach??!! But be warned...we all know what speeding can do especially if you're blind rotten drunk!! :eek:

    Footnote: I've dabbled (and I say "dabbled") because in comparison to the likes of Dazz and others here my comm prowess is undoubtedly woeful. However, I built a good sized portfolio by trying various investment vehicles/strategies; some working well, some sadly not so well (for me) but all in all, I got to where I want to be and I couldn't be happier!! Sure it is by no means, as impressive as say HandyAndy's impressive 50+ properties (CONGRATS HANDY) but it definitely does wonders for my SANF. ;)
     
  12. jacbmw

    jacbmw Member

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    I agree, you don't get that point without having the smarts (or whatever you call it) to entertain other vehicles. Just think that as an aspirational thread, talking to people who have acquired 50+ resi properties (good on them i agree), the thread almost disregarded that fact that even these investors hadn't investigated these vehicles and was just looking at the end goal number, for a narrow investment outcome.

    As a thread, thinking hypothetically it would be a dis-service to use acquiring 50 properties as an aspiration (without investigating other vehicles right off the bat). That is different to actually doing it... :)

    Suppose my post was a little naive and ambiguous...
     
  13. Andrew L

    Andrew L Chasing Dreams

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    Each to their own as they say. I've done developing twice and while the profit is fantastic the management and headaches are not to my liking.

    When I have a better foundation ( see more money or equity) I will develop again but with a much stronger starting position and someone managing the process. If I can develop 3-4 duplex's and or t/house projects a year. I'd be keeping the profit in houses rather than selling them all. That's the plan to build to 50+ all in good area's and all with lowish LVR's. Call me conservative but I'll sleep and be happy...... what a novalty.

    My choice is to be apart of the process not be the process.

    I could introduce you to a few folks from here who wouldn't discredit your idea of an opportunity lost but would suggest its about what works for the individual and that's my chosen path.

    Cheers
    Andrew
     
  14. eKwatee

    eKwatee You Snooze, You Lose

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    I believe in a similar mind set.

    If you were to win division 1 in the Lotto are you LUCKY to have won or Lucky you bought the ticket that week.
     
  15. Monopoly

    Monopoly Member

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    Both, plus the fact that you or the computerised system chose the right numbers and marked them on the little bit of paper that is your winning ticket!!! Yay!!! :D
     
  16. Bigtone

    Bigtone Member

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    i have 30+, about 35 approx i buy and hold only and all res, lowest amount of effort involved is what i want, no developing or renos for me, cant use a hammer personally. I have not bought any for 12 months but bought 10+ in 2008 when many were saying the world was ending, bought mostly in Melbourne at that time.

    In my business i have a bookeeper and she deals with the PM's as part of her job, i know i will be ripped of thousands of $$$$ every year and just budget for it. Small change in the big picture. Forget the little stuff is a lesson I learned early. (interest rates, mortgage insurance, paying $5k too much, management fees etc, focus on those and your eyes are not on the ball IMHO.

    I started investing in mid 2003 and my net wealth was $73k and income around $80k, first property was in Tassie for $72k went up 100% in 12 months, next few in Darwin gone up 300% since and just did what every body else does and kept buying as property increased in value, Last purchase was for $860k in Black Rock Melb, now trying to buy in Sydney, keep losing at auction!. Strategy was I hotspotted initially for quick growth and used that to buy bluechip.

    Might buy a couple of cheapies in USA just for fun and it is a cheats way of getting the numbers up!!

    My income has increased a fair bit since 03 which has helped but i have often borrowed to service debt. LVR is currently low 60%'s Coincidentally that increase in my income came from discovering my passion for IP and structuring my business to concentrate on areas related to that so I can focus on what i enjoy everyday.

    It's funny when i started i wrote down my goals and the numbers going forward for each year end upto 2013, just seemed ridiculous and unachievable but each year except end of 2007 I have been miles ahead of those 'ridiculous' numbers.

    I guess I have been lucky but I have also made some bad mistakes that i will avoid in future that held me back and slowed progress. So in summary I don't have 50+ yes but I want to and am very determined to get there. Also agree it is about equity and not numbers but it is fun playing real life monopoly and numbers are also good for goal setting with the end result hopefully heaps of equity!
     
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  17. Player

    Player Live Every Day

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    Outstanding stuff Bigtone. You've accomplished so much in seven years.

    Your luck as you put it, (Labour Under Correct Knowledge) has been of your own making. ;) You also acknowledge the stepping stones (mistakes) along the way however have surpassed even your own big goals.

    Now let tincture of time work it's magic over the next decade as you accumulate more toward your goal and your equity position softens your already conservative LVR's. Thank you for a most candid post.

    People often over-estimate what they can achieve in a year however, completely under-estimate what can be achieved in a decade.....and you're only 70 percent thru that time period. Would like to hear more from you.......an interview perhaps :D

    Congratulations :)
     
  18. jacbmw

    jacbmw Member

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    Wow love your work Bigtone!!! Inspirational!!!
     
  19. Icarus

    Icarus Member

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    Hey, that's my signature Player! :)

    Thanks to everyone for sharing their stories in this thread; it's been an enjoyable read so far. Looking forward to hearing more in the future.
     
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  20. Andrew L

    Andrew L Chasing Dreams

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    WOW bigtone thats fantastic!! such a great story. Now thats the sort of story I love to read about....... written a book on how to yet ;)

    Agree Player its about time for another interview?

    I'm