All Topics / General Property / How to retire early?

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  • Profile photo of Property PassionProperty Passion
    Member
    @property-passion
    Join Date: 2005
    Post Count: 172
    January 28, 2006 - 11:11 pm

    Hey all,
    i was wondering how some have you have retired so early. How do you get a significant income to be able to live on, without continuing to work. Some of you might be on that path, an not quite there yet. I’d like to hear how you got in this position.
    Has it just been through property ? Do you have a business? ect ect.

    Also once you have decided to ‘retire’ how have you continued to service you future investments?

    For myself, i see quite a lot of years ahead of me grinding away in my business to pay for my current and future investments. [thumbsdownanim

    “It’s not how much money you make, It’s how you spend it that matters.”

    Aspiring property developer

    Giulio Taranto

    Profile photo of TerrywTerryw
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    @terryw
    Join Date: 2001
    Post Count: 16,213
    January 29, 2006 - 12:32 am

    It is hard to retire on property quickly. Many do make their money in business and then hold their wealth in property. You can keep getting loans if you have the income and/or equity. If you cannot prove your income, then there are low doc loans available.

    Terryw
    Discover Home Loans
    Parramatta
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    Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
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    Profile photo of Property PassionProperty Passion
    Member
    @property-passion
    Join Date: 2005
    Post Count: 172
    January 29, 2006 - 6:59 am

    Hey Terry,

    thats where my line of thought goes also, this is why im interested in how people are talking about retireing at 30.

    I dont mean to burst the bubble, but its a LOT easier said than done.
    Im 27 and KNOW that i have a lot of years ahead of me working away with my business.
    I know there are people out there that can do it, or have retired at 30, i just think that not many of us can do it. IMO you need a business or extra income from somewhere helping you purchase these properties. At least in the early stages, i guess its different when your a property tycoon ! [biggrin]

    “It’s not how much money you make, It’s how you spend it that matters.”

    Aspiring property developer

    Giulio Taranto

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