Matt
That sounds good. Just buy a few properties, using 20% deposits. Go slow, build up more savings and go from there by buying even more. Set a goal of x properties per year. Work out what income you need, and then how many properties you need to meet that income.
Terryw
Discover Home Loans
North Sydney
[email protected]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
I have a very different approach.
$25,000 bet black, then double it three time. if it is red then use the $25,000 to bet on red then double it three time.
good luck.
Kind regards
ChanDollars
[Keep going, you’re nearly reach the end of financial freedom]lol… But what happens if the bet lands on 0.
cheers,
s.i.sinteresting theory Chan,
quote:
lol… But what happens if the bet lands on 0.cheers,
s.i.sMatt
“If you do what you have always done, you will get what you have always had.”
“Isn’t it time for a change?”
Hey Matt.
You know how you can retire on $1 dollar. Yes $1 dollar.
Win 20 rounds of playing black and red on roulette, with out losing and doubling each bet. After 20 rounds of winnings and doubling your bet, you will have over $1 million.
cheers,
s.i.s$1, $2, $4, $8, $16, $32, $64, $128, $256, $512, $1024, $2048, $4096, $8192, $16384, $32768, $65536, $131072, $262144, $524288, $1048576
I don’t suppose you would like to tell me my chances [:p]
Matt
“If you do what you have always done, you will get what you have always had.”
“Isn’t it time for a change?”
Matt,
If you are worried about losing the money or servicing the loan I would tend to go for less IP’s with lower gearing ratios. As with anything the higher the reward the higher the risk.
Josh
Hey guys,
Josh, I can understand where your coming from, like I said before, I would prefer to have 2-3 =ve CF IPs, and still have some money left in the bank. But I orignally started this thread to what other people would do, if they had 50k to spend on property. Thx for your help [
]Matt
“If you do what you have always done, you will get what you have always had.”
“Isn’t it time for a change?”
Hi Matt,
When I was much younger, I wish I had my head screwed on right, and someone told me about investing in property. Not just “you should buy property”, but how I should be investing. Unfortunately, there were no books like Steve’s back then, and I watched Wall Street once too often.
I just want to suggest the following:
- Don’t be in a rush to buy. If you see an absolute beaut of a property, but can’t get it for the price you’re comfortable with, walk away. There’ll be another pearler in a week or two.
- Contrary to Michael Douglas’s opinion, greed is NOT good. Greed leads to rash decisions, which lead to fear and loathing, which leads to you losing a lot of money, and owing a lot more. Be honest with yourself. If you’re getting some runs on the board, and self-confidence is turning into greed and overconfidence, pull yourself up and take a reality check.
- Don’t believe everything that people tell you (including me), even people who claim to be experts, people you’re paying for advice and people that everyone tells you that you should listen to. Do your own research, critically check and challenge what you’re told, and make sure you’re comfortable with it before you go ahead and commit yourself. Is it legal? Will it actually work out for someone in your circumstances? What’s the catch?
Above all, good luck and happy investing!
Cheers
Elysium-M
]
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