How Long Will it take to RETIRE on SHARES

Wow that's awesome dude, never heard anyone retiring in that amount of time with property, fantastic. Only assuming here from what I've read over time in your posts, you must have made at least 4million?
Mind if I ask some additional info to understand how. Such as what incomes did you have at the time to be able to service what you held, and how many did you hold/build during those 7 years?
I understand I'm asking personal info here so don't have to answer, just curious in understanding what it took to get there.

 

Silly question.. isn't 10% pa overly optimistic?

 

I'd say so, have a look here for 10/20 year returns:
ASX - Request Rejected

 

Potentially.

The example was based on round numbers, historically 8-9% might be more accurate, then again maybe low growth is the new normal, or we could experience growth to return to the normal normal or you might not index and pick stocks.

As we don't know the future it doesn't matter anyway. Your inputs and required income are what you can control. Focus and conviction will keep you going when there is a speed hump.

 

I will keep it very short, in a nutshell ....

Income not an issue.......as verification of income was not required..........
Welcome to the days of lo doc/no doc loan/product .....google no doc loans, non existent today

Perth property market boom cycle went for 7 years riding on the back of mining boom. Commercial and tesi booming at the same time

Imagine starting with $1m and going hard for 7 years
Mtr

 

Cheers, you must have leveraged to the hill. To make at least 3 mill clear after all taxes your propertys would have had more than double over those years and heavy negative cashflow along the way.

Looking back, do you think it could have easily wiped you out?

 

I know a few investors who posted on SS from Perth who lost everything, they no longer post. They continued purchasing at peak, also financial policy changed Lo doc/no doc pretty much got abolished over night and they could not access equity or refinance

After the boom was over in Perth 2007, I then moved to Melb market in 2008 GFC, as Melbourne market was booming during this period

I purchased 5 properties/deve sites in Broadmeadows and a double fronted Californian bungalow in Coburg so I continued to grow wealth. I eventually sold down changed my strategy to buying cash cows and purchased in USA and then developing property. Just kept tweaking the strategy, still tweaking

 

So not really "retired on property in 7years" when you start with $1mill.

How long did it take you to accumulate the first $mil?

Blacky

 

@MTR first mill time frame please?

 

When will I be a millionaire?

 

LOL Bugger my picture's been leaked onto the Internet.

 

If only I knew you looked so good in a bikini

 

You the chick on the left or right.

 

Cheeky buggers, no respect for your elders. What made you think I only had two legs. As per my avartar this is a recent picture of me:


Living a purr-fect life in retirement especially while the better half is away till Thursday.

 

Besides if you think that's a chick in the right photo then your eyesight can't be too good:

 

The first mill is the hardest they say. But for many time in the market accomplished it in their ppor without even trying.

For me I have on paper (unrealised) hit the figure. It has taken me a bit over 2 years and won't really be concreted until some of the properties I am building and haven't started building are finished ideally by mid to late next year at which point I will have surpassed it and be 1/2-3/4 into the second mil. I started from $50k equity though and that took me 4-5 years to get together...

 

So 7 years in total for the first mill?
Amazing that you went from 50k to 1 mill in 2 years.

 

Your right
Took me longer about 4 years

I never counted primary residence as investment, my mindset/headspace was not investing but lifestyle
2001 was when i started accessing equity and going gangbusters and mindset changed

i got lucky purchased a deve site in inner city

 

Hmmm... Let's not say luck

 

I suppose. I won't say I was trying quite as hard the first 4...
Yes two years is pretty amazing. A lot of things went right for me, and I took more risk than most would. I wasn't always in a position to settle everything I bought, and if onsales didn't settle I would have had some scrambling to do. I managed to help some others make money though and they gave me access to equity to help Myself too. I said to my wife we have $50k now it's not a lot, I'm going to go hard, we will have times when cash flow will be tight, and if I lose it all well we only started with $50k.

Now that we have something to lose, I'm backing off the crazy level to just mildly nuts. In about 12 months I will calm it down some more and just recycle debt till the ppor we are building is fully deductible. Moving wife into LICs looking for yield. I'll continue to do packaging while I can make it work. Properties I hold will hopefully double in less than 14 years.