Anyone retired early solely from property or shares?

Yes this is true. I don't spend much, I drive a car that's so beat up I honestly go about 6 months at a time without seeing another car of equal or worse condition than mine. Half the paint is gone and the windows rattle when I hit a bump. My day job is circa 200k and it blows my mind when I see people on 1/5th of my income driving around hot new cars. My only major expense is eating out as I love food, which I do 2-3 sometimes 4 times a week. I figure; for all the sacrifices I make, I shouldn't have to feel guilty about eating well.

 

Yes, only food in your tummy is genuinely yours. The rest? Only a number or only toiling for someone else.

 

As I've gotten older I've started appreciating experiences more. I mean I'm no minimalist (my office is a mess) but I'd rather spend 20k on a great holiday than a car. I'd rather eat a fine meal than have another trinket on my desk etc.

 

I’ll probably be at least 75 before I can retire. The To Do list of tasks my wife has given me and continues to add to will easily take that long.

 

Doesn’t have to be you. I have a corporate trustee. So you set up a company which is the trustee then you personally lend the money to the trustee. You charge the trustee interest. That interest is tax deductible for the trust. The bank charges you interest. That interest is tax deductible for you. Again get all this verified by a professional and have it set up correctly.

 

Ok, thank you! Yes, I will seek the professional advice to set it up correctly.

 

Out of interest, when quoting these numbers, I’ve always wondered do you come to this percentage based on pre or post tax earnings?

 

How Anyone Can Retire In 10 Years (Or Less!)

 

Hi Oats, I use my post tax income to calculate savings rate.

 

I'm a pretty good cook, so eating out is mostly for the social as the food is often a not better than at home.
And cooking makes it a lot cheaper. I eat quite well on $100-150 week.
Can easily feed 4 on just a bit more.

 

Up to 78 now

Australian interest rate increase: Eddie Dilleen with 78 properties worth $45million | Daily Mail Online

Aussie landlord with 78 investment properties makes no excuses for hiking rents by up to $200 a week on struggling tenants - and says it's all part of his plan to expand to 100 homes by next year

• Property investor Eddie Dilleen, 31, owns 78 properties
• At just 31, his impressive portfolio is worth $45million
• Amid interest rate increases he's increased rents by 40 per cent

 

Good on him, it would be interesting to see some of the other numbers behind his success. For example his debt levels and if he has other sources of income.

$33k/week on $45M is only a 3.8% yield. It says he has been at this for ~10 years, so even if he has managed to double his house prices in that time, he would still have around $25M in debt. Current rates at P&I he would be underwater, especially if he was using non-bank lenders. Surely there must be a big source of additional income in the mix?

 

Yep total rubbish income as a BA.....

 

Someone liked this post from 2019. I read it and thought , how times have changed .

Sadly I no longer enjoy my job and am about to retire now rather than work part to my late 60’s / 70 .

Covid did that . In particular working with another Dr who didn’t believe it was an issue . Incredibly frustrating .

We did sell our weekender after holding it for around 10 years .

Two reasons ; 1 we used it extensively and got to the stage where we wanted to do others things and financially and time wise selling made that possible
2 I wanted to retire and selling made that easier .
Between 19 and late last year it doubled and selling it enable to clear off a lot of debt which enables us to retire earlier and in a better position .

We’ve built an NSID property and have one more on the way . Selling weekender and the NDIS have taken our impending retirement to another level .

maybe be doesn’t have any or much debt . Maybe he sells , pays CGT and pays down debt on others

Soon , we’ll be close to an 8 figure equity level with 0 LVR ratio. We might keep on doing some investing as we enjoy it and are good at it but will probably will keep LVR under 10 %

cheers

cliff

 

makes the $ from selling books. most properties seem to be dual occs/villas/units... probably the most extreme example of cf vs growth but if it works for him, good for him!

 

WOW - huge jump with his portfolio. I wonder how he keeps getting finance.

At peak I was close to 40 properties and sold down many now. You reach a point where finance becomes maxed out and even if its not some financial institutions will deem you extremely high risk and wont lend to you anymore.

He's done a HUGE effort to get to that number. Congratulations to him I say. I would have loved to keep going but it takes its toll holding even 10 properties let alone 78. I'm sure he has ppl he has hired now to help him though.

Thats a crazy portfolio for someone that is 31. I thought I was doing well - this guy is on another level.

 

His books are free. As Sash said above earns income as a BA, probably earns more from property management and gets income from selling courses.

 

No he said smart people make money from debt he makes money from it and it reduces tax and doesnt pay debt down.

 

Me and my partner started a mid life retirement at 25 & 28 when we had our first kid, we made pretty good money off property targeting rundown cashflow postive properties and fixing them up.

Although we currently dont have jobs I am doing alot of work on the PPOR and have a couple small fairly passive side hustles that provide a bit of cashflow boost here and there but I enjoy working on the house and the side hustles are hobbies I would probably be doing anyway I just figured out ways to monetise them.

I'll probably consider going back to work at around 35-40 when the kids are in school

 

This sort of publicity is pure BS they purely debt and not a lot of equity the main income is from pushing rubbish to newbies.

Just look at social media these types everywhere. There are so many gullible people out there. The worst ones are people doing the BA stuff as well as mortgages.

The equation has not changed only 1-2 of investors will build true wealth.