Hi all
I have been frantically reading anything and everything that I can get my hands on to do with Wrapping. I have signed up for the AMPI and of course cant wait.
I tend to hear or rather read about people who have achieved financial independance thru positive cashflow investing etc, and continuously wonder how often or how frequently these (you) gurus are doing it, (woops) I mean buying and wrapping houses? Is it one per month one per week etc?
I want to become financially independant in 12mths, and would like to know from you gurus out there that have achieved this, as to your frequency of buying (wrapping) houses? IE what is and isn’t realistic?
I am at the embryonic stage of my Property investing career, and realise I have much to learn. However I am starting to consider preparing a plan as to how I am going to achieve my goal of financial independance. As far as I am concerned the sooner the better. So when I consider how many properties I will need to buy and wrap per month, I come to a BLANK because I don’t know what is actually an achievable and realisic expectation!
I would really appreciate your thoughts on this
What isn’t realistic, is the notion of becoming financially independant within 12mths of investing in property, particularly if you consider yourself “at the embryonic stage of your property investing career, and realise how much you need to learn”.
I’m not saying it’s impossible, but there’s a lot of learning and foot work to be done if that’s your goal.
Hope this hasn’t put you off but you really need to be realistic about a time frame.However, you are on the right track by gathering information and preparing a plan to achieve your goal. Do lots of research and then do a bit more…and then do some more.
Visit other forums besides this one and ask lots of questions as well as using the search function – i’ve noticed that a few people on here are also members of the main PI forums i’ve come across, namely: http://www.somersoft.com/forums/index.php?s=
and
http://groups.msn.com/PropertyInvestment/messageboard.msnw
These forums (especially Jan Somers) has a wealth of information with many experienced investors on board.
All the best.
Cheerio,
QuentinI want to become financially independant in 12mths, and would like to know from you gurus out there that have achieved this, as to your frequency of buying (wrapping) houses? IE what is and isn’t realistic?
Hi Hurricane,
I am not a guru or financially independant, but I am on my way.
I think that you are the best person to answer your own question. How much income do you want annually to retire on?
How many properties does that equate to?
Do you have the resources at hand to buy that many properties?
If not how will you overcome this problem?Do you have the correct advice legal/financial that you need?
I am a believer that nothing is impossibe, and that your own success is a function of the amount of educated effort you apply towards your goals.
All the tools, and methods that you need are near by. Use them!
Happy investing,[
]Nathan.
Well put Nathan!
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
Thanks guys for your comments[
]I still have one question that I would like to throw out to you serious WRAPPERS out there.
On average, how many property deals have you been able to do each month?
I appreciate that this question is like “how long is a piece of string”, and that the answer could be ‘as many as you had the time and resources for!’.
But as I am preparing my own personal plan, I would like an idea, as to what the benchmark is out there, and then I can determine if that is realistic for me. As this stage I am thinking of a minimum of two a month. What do you think???
“The Hardest thing is to know what you want. The easiest thing is to get it!” (Author – Unknown)
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]The topic ‘Wrap speed’ is closed to new replies.
