Any Low Income Earners with a Property Portfolio?

Money in V money out and invest the difference.

Cash alone goes backwards in this current environment.

 

You definitely can its just harder in the current APRA climate . Still on 50k a year and about to settle on my 13th

 

Awesome stuff!

Are you able to share your steategy?

 

We have to wait for the equality issue to be sorted first, then we can push to allow 3rd, 4th and so on persons into the marriage to build wealth and increase servicing

@datto they won't give you such tips on a property show !

APRA made things harder, but where there is a will, you can often find a way, better to do something than give up and do nothing.

I am not so sure, I part agree, but often people who said this to me were professionals with property and good cash income, kinda like how Hockey sounded re better job.

Or put another way, most here would find a good use for doubling of income

 

That's inspiring. I'd like to learn from your experience so hope you can share a couple of things to help.

Is the $50k before income tax or after?

Also, have you acquired all 13 properties while supporting yourself solely on your $50k income, or have you used a partner/spouse's income for income support/sharing POPR costs etc?

 

Great stuff! Any plans to move from acquisition phase to consolidation phase?? Are you near your $$ goal yet?

 

That's before tax. The 13th will be my last solo venture before starting to use my spouses serviceability(clean slate). We share our PPOR and lifestyle costs. It was just hard work with saving, buying at the right time, renovating, buying below market value, having a mix of capital growth performers and some cashflow regional cheapies and having a great PM and Broker.

 

There is no stopping me I have the property bug well and truly in my brain. With my serviceability in tatters(cheers APRA) I'll use my spouses serviceability to keep growing. I have enough in passive income to live off so I'm retiring at the end of the year for working for someone else at the ripe old age of 28 to start my own business

 

But your good looks are with you for only so long

 

ive survived on $50 per week (w free rent/food) when I was younger when I had financial difficulties

its all about priorities and sacrifices

 

Awesome job Dark Knight! 28 now, what age did you start? Hearing that, I need to take a good hard look at myself in the mirror haha!

 

Wow, keeps going!

I'm sure a few have asked in their mind (I have anyway) business?? Prop related?

 

I started at 19 and wish I had started at 18. You'll get there

 

Congratulations! That's an awesome achievement. I wish I'd started younger.

 

It certainly is property related. I'm in the process of starting my own Buyers Agency! Doing what I love for the rest of my life

 

Thank you Better late than never

 

You will be 4 x current income in a couple of years.

 

Fingers crossed

 

Wow, this is some great inspiration I am now 25 this year and looking at getting into property in the next 12+ months once I can get some savings together!

 

Good work. There's a fairly active Adelaide group on these forums with a lot of younger participants at the meetups. Try come along to the next time one these are organised.