How do people class a millionaire…
1) controlling a million dollars worth of property..
2) having equity of a million dollars…
3) earning of a million dollars a year…
etc etc…
Hi Centralian,
Interesting question…..
1. Definately not controlling $1mil of property..
2. Equity of $1mil – probably
3. Earning $1mil pa, definately
Del
$1 million of income generating equity.
$1 million of PPOR equity doesn’t really count.
Rod
Net worth greater than 1 mill
Assets minus liabilities = $1 million
Mind you that isn’t as hard if you had invested in Sydney 3 years ago [
]Net equity of $1m in addition to your PPOR in my view is a millionaire.
Having $1.2m in property and owing $800k is not a millionaire.
Originally posted by ANUBIS:Net worth greater than 1 mill
Assets minus liabilities = $1 million
Agree [:o)]
Cheers,
sisI agree, 1 million in equity is the minimum requirement.
Is this the aim of the MAPS students, or 1 million of property value in the first year?$1 mill in controlled property value is the MAP target I believe.
I’m with you guys who say its a net worth of $1 million, but as others have said being a millionaire isn’t like it used to be.
i think this has always been the true definition. It’s only recently that some have changed it to mean having more (income of a million) because a millionaire is so common.
westan
I find +ve cashflow deals in New Zealand which I sell to other investors. To be on my database send an e-mail to [email protected]
So true Westan, being a millionair today is not as wealthy as a million 5 years ago.
I thought I was wrong once, but I was mistaken !
I would say…….. 2) having equity of a million dollars…was a minimum requirement.
Regards Bear
POSITVE CASHFLOW properties and Joint Ventures available!
For the BEST deals register via E-mail [email protected]
DONT MISS OUT!!!!!ditto ditto
equity in my books, too easy to be a paper millionaire (with debts), just about two properties where I am now.I once heard a self-styled millionaire saying that you’re not a real millionaire unless you have at least $1 million in cash and other highly liquid assets, in addition to any other investments you might have.
Cheers
Eylsium-MDIY Residential Property Settlements in WA – the book coming soon! When I can get my act together…
Elysium,
A Millionaire is a person who has- in cash or equity- $1 million bucks- not one cent less, but not necessarily one cent more. Doesn’t matter if the person has a car or a stamp sollection or whatever- the definition is pretty simple.
Of course, if one then had to move to another culture- the situation is different. For example, if i moved to Austria, my million would only be 600,000 euros :o(
kay henry
or 34.5 million rupees…
~~~
Our plans miscarry when they have no aim. When we do not know what harbor we are making for, no wind is the right wind.
~SenecaHey i found a way to increase my wealth by 15% overnight.
i moved to New Zealand
$1 = $1.15 NZD [
]Gee i’m wealther than i thought, Oh No my Ozzie debt went up 15% also [8]
regards westan
I find +ve cashflow deals in New Zealand which I sell to other investors. To be on my database send an e-mail to [email protected]
I cann’t remember the souces maybe from ATO the is one millionair at every 80 people, Are you inc. there?
Regards
Julian []I cann’t remember the souces maybe from ATO the is one millionair at every 80 peopleSo with 30000 members, PI.com should have 375 millionaires?
Come on, stand up and be counted. [
]Rod.
Hi..for my 2 bobs worth, I have always thought more globally and to my way of thinking to qualify as a millionare in Aus would require $1,320,000 AUD approx in uninumbered equity.(Assets minus liabilities).
That is equivilant to $1 million US (The benchmark currency).
Regards
Neil
I agree with you Neil. Of course, if we were discussing this 18 months ago, that $1.32m, would have been closer to $2m
James
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