I require $1million a year in rental income, how many properties will I need.
100 $100,000 properties yielding 10% would give you that income (gross). Then again one $10,000,000 also yielding 10% would give you the same.
What market segment did you have in mind?
regards,
Rod.
I require $1million a year in rental income, how many properties will I need.How many balls of string do you need to reach the moon?
I guess the answer is, only one but it would have to be a big one.
Cheers
JeffSonny Jim, my question to you is why ????
If you had a caculator and knew how to use it do the maths on the yield at 5% – 6% – 7% – 8% – 9% – 10% and so on.
This is called the basics mate [blush2]
I’d be more curious to know why he requires $1million a year in rental income.
Just go and ask Eddie Maguire for some assistance.
Originally posted by Prodigee:
Just go and ask Eddie Maguire for some assistance.I’m with you, Prodigee. After raising a family on a teacher’s wage, $1 Million/year is my cuppa tea [cap]
Cheers
GregWhy would you need $1m a year? Ferrari, Armani, waterfront mansion in Manly (I’m a Sydney boy), summer in the Hamptons, winter in the casa in Italy, flying First Class all over the place….
I’m with you, Sonny JIM. My goal is $1m as well.
Now, the $1m question is: what plan have you got to get there and/or what are you currently doing every day to progress towards your goal?
Is this a loaded question or what?
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Surely SonnyJim requires $1m pa nett after all expenses and taxes – which is only $20k per week!!! A person’s gotta live!!! Some of those Sydney restaurants are pretty expensive, you know.
JulianAnd to get there is no small feat. Peter Spann made $10M in 10 years, but his leapfrogging technique meant this was all encumbered. Now to make $10M unencumbered he’d have to sit on that for 10 years until it doubled in value to $20M, 50% encumbered. Then you’d have your $10M in equity to retire on, but that’s a 20 year plan. I think I want my $10 mill a bit faster than that… [biggrin]
Cheers,
Michael.A little ol’ shack just down the road sold recently that rented for $1.3MM per year, signed up for 10 years too…..so the answer to your ridiculous question is less than one.
But then, if you were able to afford it, you wouldn’t be asking questions like that…
Grab a calculator and some grade 6 maths.
Cheers,
Dazzling
“Go hard or go home”
Poor ole Sonny Jim gets a caning…
Looks like we don’t like greed in this forum. Perhaps jimbo wants that much to give away to charities…?
(This is your chance to redeem yourself SJ – go for it)
I dont think this is a silly question ,
maybe your requirement of $1mil is a little high but
how do I know what you need this much money for, maybe you are going to feed and house the poor.
How ever take your 1 million divide it by 52
remember to factor in the costs …
if you earn $50 per week after cost x by 52= etc ect ect……by doing this you will work out how many properties you will need…10 prperty’s earning $50 clear per week is $500 x 52=
get my idea….I wish i new your idea so i could try it to….I am sure it would ezy if you new how.[buz2]
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