All Topics / General Property / As a general rule of thumb….

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  • Profile photo of kat13kat13
    Participant
    @kat13
    Join Date: 2012
    Post Count: 44
    October 13, 2012 - 2:54 am

    Assuming I get my arse into gear and delve into purchasing an IP at some point in my lifetime, how many investment properties would I need to comfortably retire on giving myself a decent income as well as ability to pay tax?  I am not talking about multimillion dollar homes or anything close to that but homes decent enough to bring in a $300-400 a week rent. 

    Profile photo of NHGNHG
    Member
    @nhg
    Join Date: 2010
    Post Count: 198
    October 13, 2012 - 4:12 am

    Depends on your lifestyle…

    I’ve heard of people retiring on $20k per year overseas.

    Others like their Armani suits and Christian Louboutin shoes.

    Profile photo of Jamie MooreJamie Moore
    Participant
    @jamie-m
    Join Date: 2010
    Post Count: 5,069
    October 13, 2012 - 6:10 am

    There's no rule of thumb.

    You need to work backwards.

    Work out how much YOU would need to live off and then devise a plan from that.

    Cheers

    Jamie

    Jamie Moore | Pass Go Home Loans Pty Ltd
    http://www.passgo.com.au
    Email Me | Phone Me

    Mortgage Broker assisting clients Australia wide Email: [email protected]

    Profile photo of DanielleDanielle
    Participant
    @dgirl
    Join Date: 2012
    Post Count: 43
    October 13, 2012 - 10:55 pm

    Here's one article (view) on the topic:

    How many investment properties do you need to retire?

    Cheers

    Profile photo of Scott No MatesScott No Mates
    Participant
    @scott-no-mates
    Join Date: 2005
    Post Count: 3,856
    October 14, 2012 - 1:30 am

    What do you think you need for retirement? Is it more or less than your current income?

    Profile photo of DerekDerek
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    @derek
    Join Date: 2004
    Post Count: 3,544
    October 14, 2012 - 11:42 pm

    Hi Kat,

    Assuming your $300/week is net of all costs that will give you $15K/annum less tax.

    So if you wanted an income of $90K/annum (before tax) then you'll need six properties.

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