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

Discussion in 'Investment Strategy' started by MTR, 26th May, 2016.

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  1. sash

    sash Well-Known Member

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    Yep....diversification is the key...if you don't you could be wandering the wilderness for 7-10 years..before another boom.

    Know a few people with 100% of their investments in Sydney...will be interesting to see what happens in the next 7 years....for the record last boom was 2003...next boom took till 2012.....
     
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  2. Azazel

    Azazel Well-Known Member

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    Millionaire.png
    Read it.
    Didn't really get much from it.
     
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  3. MTR

    MTR Well-Known Member

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    ..... or 2.5M.......just copy what @Jack Chen did, rinse and repeat:p
     
  4. Jack Chen

    Jack Chen Well-Known Member

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    Lol I wouldn't call it easy. Simple, maybe. Lots of blood sweat and tears went into making that $1m
     
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  5. Johnny Cashflow

    Johnny Cashflow Well-Known Member

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    I'd like to see how long It would take people to make $1,000,000 if there was no boom
     
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  6. Johnny Cashflow

    Johnny Cashflow Well-Known Member

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    No more blood sweat and tears than anyone else. You bought in Sydney and caught the boom good for you and I can admit I'm jealous lol
     
  7. Gonx

    Gonx Well-Known Member

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    Well this is not property but if you want anther alternative although you could write about property investing etc:

    Write 100 eBooks sell on Amazon etc
    at $12 each x 10,000 copies -$2 to Amazon, costs
    each with $10 profit on each
    =$1,000,000

    If you can write 1 book a week then it would take you 100 weeks or just under 2 years to get the books completed. If you can write 1 book a day you could have the books ready to be published in just over 3 months. Then you could spend 7 months promoting them and have reached the sales goal in 1 year.

    The easy part is to write about something you are good at and are passionate about. The hard part is doing it, that is why I'm not a millionaire "yet" :)

    You could outsource the book writing and the promotion to fast track this but that would take a small investment at least initially.

    You could apply this formula to many other things like t-shirts, kindle books, product creation, etc

    * Disclaimer, this is a very rough guide but you get the idea!
     
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  8. Whitecat

    Whitecat Well-Known Member

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  9. MTR

    MTR Well-Known Member

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    Can you do ot with shares? :p
     
  10. Gockie

    Gockie Life is good ☺️ Premium Member

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    Yes... Have a rapidly appreciating home (like everybody in Sydney) and a shares portfolio sitting off to the side. Easy. :D
    Question. Are we going to see another Sydney boom somewhere? Brisbane might be growing... We have hopes. But we won't know for a few years if it's really going to be a proper boom.
    Not everybody wants to develop.
     
  11. Ted Varrick

    Ted Varrick Well-Known Member

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    Buy a $10m property in Sydney and wait for 6 months?
     
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  12. tomlemke

    tomlemke Well-Known Member Business Member

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    Buy /Reno/ hold/ Repeat/ took 5.5 years, looking forward to the 10 year mark.
     
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  13. Gockie

    Gockie Life is good ☺️ Premium Member

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    Buy a 2.4m house for 1.6m. (With a bit of luck).
    Then have a second property that goes up 200k. Easy.
     
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  14. MTR

    MTR Well-Known Member

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    So how do you buy a $10M property?
     
  15. Ace in the Hole

    Ace in the Hole Well-Known Member

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  16. MTR

    MTR Well-Known Member

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    But you need $2M? I guess that was what I was getting at??
     
  17. Ace in the Hole

    Ace in the Hole Well-Known Member

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    Start Small > Compounding/Exponential Growth over time > Finish Big.
    That is the easiest way.
    How quick depends on how much you start with or what level you're up to.
    Best to work hard to build the bankroll ASAP in the early stages, no need to even start investing at this stage.
     
  18. Bayview

    Bayview Well-Known Member

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    Depends on which level you are playing.

    For the beginner; buy a modest PPoR (or IP) first, pay down the loan asap, access equity for an IP (or another one),

    repeat a few times.

    This is not the quickest, but the easiest.

    For someone already up the ladder a few rungs; buy a higher-end run down Period style home in a "leafy suburb", spend 1/4 of the house value on a super-dooper reno, then resell for double the price plus the reno cost.

    For eg; $1m house, $250k reno; sell for$2.25M - not as easy, but can be done quickly...within a year....depends on market timing too though.
     
    Last edited: 25th May, 2017
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  19. Gockie

    Gockie Life is good ☺️ Premium Member

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    My PPOR journey. ...

    1st PPOR property (a 2br unit) bought 252k in 2005 sold 365k in 2010.

    Second PPOR bought 3br house for 695k in 2008 sold 2016 for 1.345m

    This made it possible to buy....

    Third PPOR. 4br house for 1.6m 2015. I think probably worth well over 2m now. (Bought very well)

    Btw. We would not have immediately leapt into a 1.6 mill home from nothing. The 1.3m property (and unit) were stepping stones so we could be in a position so we could buy the latest PPOR and to get the additional growth with that.
    Also... the unit would be worth higher 5's now.
     
    Last edited: 25th May, 2017
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  20. Tim86

    Tim86 Well-Known Member

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    I have a subdivision 1 into 2 to complete and my ppor extension to complete. At that point I should crack the 1 million mark.

    Will be 7 years of hard work with no holidays and timing the market right and having deposits from parents leant to me and getting in before the lending environment became more difficult.

    Nothing easy or quick about it. But I am in the brisbane market. If Id purchased in sydney when I did in brisbane I would have made a killing long ago.
     

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