Easiest way to make $1,000,000 from property

+1

Property Development is one of the way to get to million $ mark.

Needless to say Meriton and Westfield started from a single small property purchase/development.

 

For me that's too much like hard work, renovating no way.... and then how many of these can you actually flip in 1 year. Buy, renovate and sell would be at least 3 month time frame for each reno, 4 pa ($80K)
All to their own, I just don't see this as being an easy option.

 

you can move zeroes around. Flip 5 properties netting $200k after tax for each property. Hard work sourcing these, though

 

Imho putting aside great 'luck' and those 1 off moments that can happen every so often (which I don't think anyone wants to use as their realistic starting point), I don't think there is any 'easy' way to make 1 million dollars. Making a million is not difficult, but I don't think its 'easy' either.

 

We were involved in renovations buying and selling in the early stages, I changed strategy to developing because renovating it so much hard work and you need to be hands on to save $
Too much work for very little returns IMO.

Where the money is with renos is the higher end stuff $1M+ but then we have higher risk, ie holding costs, harder to sell if markets turn etc.

 

The easiest million is the one you make without even noticing, and that would be from passive gainz usually.
First mil is tough, and exactly like they say, it's the hardest, by far.
Easy or hard really depends how far along you are on your journey and your experience and expectation levels.

 

Target is set for my first mil at present! Got some work ahead of me!

 

If one as sufficient cash do 3 at once and do it 4 times pa
$20 k x 12 = $240k

Beats working for someone else.

 

Are you talking about renos?

 

Technically, you're still working for someone.
No customers = no money.

 

Yes

 

Doing renos sucks lol

It's HARD work and the profits just aren't worth it.

And to say your not working for anyone isn't correct. You are still working for the person buying the house, the bank revaluing the house etc

 

10 X NRAS properties returning 10k per annum Tax Free for 10 years = One Million Dollars.

 

Holy crapola. You are right!

 

CASH

 

so what happens after 10 years?

 

Hookers and coke!

 

ok, that good, I'm in

 

How does one do this when they're just starting out with limited capital?

I'll be going into the development industry for work so i'll be confident in my ability to get into development straight away, however financing seems like a massive challenge. Realistically, it looks like i'll need some decent growth from at least 1 IP before having enough equity to get into development.

 

JV?