guy with 100 IP portfolio

Discussion in 'Investor Stories & Showcase' started by Truly Exotic, 18th Dec, 2021.

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  1. Truly Exotic

    Truly Exotic Well-Known Member

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    another article from the trashy news.com.au which I usually skip

    Melbourne dad makes $250k a year doing nothing

    ignoring his back story, 100+ property portfolio

    anyone confirm how 100+ is acheived with his circumstances?
    im all for these type of stories but dont like crappy sources
     
    Last edited: 18th Dec, 2021
    Truly Exotic, 18th Dec, 2021
    #1
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  2. Piston_Broke

    Piston_Broke Well-Known Member

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    He made his first money RE developing and then the easiest way ie telling others how to make money.
    Maybe he too is selling his clients on new developments.
    That reads like a prewritten paid advert.
     
    Piston_Broke, 18th Dec, 2021
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  3. Properwin

    Properwin Well-Known Member

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    FWIW he's the author of that best-selling book, which I've read - My Four-Year-Old The Property Investor.
     
    Properwin, 18th Dec, 2021
    #3
  4. Piston_Broke

    Piston_Broke Well-Known Member

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    Based on the article it should be called "My 4yo Trust fund baby".
    But hey kids or t*ts sell much more than a good story.

    If it was me I'd probly call it "Doing it for the kids" and havea pic of some poor kids on the cover.
     
    Last edited: 18th Dec, 2021
    Piston_Broke, 18th Dec, 2021
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  5. kierank

    kierank Well-Known Member

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    Obviously the reporter has no idea:

    “Cam McLellan started amassing properties when he was just 20 with the aim of generating enough passive income so that he would never have to work again.”​

    “He has managers in place running his portfolio so essentially no longer has to do anything to lead a more than comfortable lifestyle.”​

    With 100 IPs, managing the PMs would be a full-time job :rolleyes:.
     
    Last edited by a moderator: 18th Dec, 2021
    kierank, 18th Dec, 2021
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  6. Piston_Broke

    Piston_Broke Well-Known Member

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    Unless they are in the same building or complex.
    Even split across 2 or 3.

    edit
    Actually I do remember talking to a PM a few years who said he's got more than one client with 50+ properties. I may ask him a few questions about it next time I see him.
     
    Last edited: 18th Dec, 2021
    Piston_Broke, 18th Dec, 2021
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  7. kierank

    kierank Well-Known Member

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    From the article:
    “I’ve got a high proportion of properties in Brisbane, Sydney, Melbourne, Brisbane and Perth,” he said.​

    “He ended up starting his own property company called OpenCorp​

    Sounds like he might still have a job:

    The OpenCorp Team
     
    kierank, 18th Dec, 2021
    #7
  8. D.T.

    D.T. Specialist Property Manager Business Member

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    Depends if he likes being OCD or a micromanager or let's the PMs do their jobs
     
    D.T., 18th Dec, 2021
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  9. Ruby Tuesday

    Ruby Tuesday Well-Known Member

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    Ruby Tuesday, 18th Dec, 2021
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  10. AndyPandy

    AndyPandy Well-Known Member

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    It's just publicity for this company.
     
    AndyPandy, 18th Dec, 2021
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  11. Lacrim

    Lacrim Well-Known Member

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    How do all these once poor people have access to rich mentors? The rich hang out with the rich.
     
    Lacrim, 18th Dec, 2021
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  12. Lacrim

    Lacrim Well-Known Member

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    I'd very much appreciate if the Director of OpenCorp was OpenBook. Would love to see the numbers.
     
    Lacrim, 18th Dec, 2021
    #12
  13. Redwing

    Redwing Well-Known Member

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    I remember Cam & Al's Wealth WOD's (Workout Of the Day)

    Opencorp Director with Matthew Lewison and Allister Lewison

     
    Redwing, 18th Dec, 2021
    #13
  14. wylie

    wylie Moderator Staff Member

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    With 100 properties why is he only earning $250k per year ($2,500 per property income)?

    Or is that net after all expenses including loan repayments?
     
    wylie, 18th Dec, 2021
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  15. Morgs

    Morgs Well-Known Member Business Member

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    My thoughts too...
     
    Morgs, 18th Dec, 2021
    #15
  16. Beano

    Beano Well-Known Member

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    The article said after tax.
     
    Beano, 18th Dec, 2021
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  17. Sackie

    Sackie Well-Known Member

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    Not always the case, from what I've seen.
     
    Sackie, 18th Dec, 2021
    #17
  18. Luca

    Luca Well-Known Member

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    My take is that the article is just a click bait...$250k from properties are nothing compared with what he is probably earning with his business. Same old story (nothing wrong with it) -> you start investing -> are successful > start a business.
     
    Luca, 18th Dec, 2021
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  19. kierank

    kierank Well-Known Member

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    True, I have been seen hanging out with @Sackie
     
    kierank, 18th Dec, 2021
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  20. kierank

    kierank Well-Known Member

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    Reminds me of someone from Sydney, everyone on PC sang his praises NOT
     
    kierank, 18th Dec, 2021
    #20
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