How much income do I need to generate for +100 properties?

Good luck trying to get 10+ with any bank.

 

A Broker is not important. It's a myth started by John Simons and Aussie Home Loans. Most Brokers couldn't count the toes on each foot, let alone string together an application and submit it to a reputable lender. As for multiple submissions, please.!!!

If you already have $30mil, why would you buy 100 resi properties...?????

 

@Nemo30：
I would not use "s.." word. People are different. This is why some making more money ......

 

My broker is fantastic.

Re the $30 mil and buying 100 resi properties, that was exactly my point. You wouldn't do it.

 

Not all are like that, and saying so makes you look very ignorant
So what's your background then?

 

Cheers @Steven Ryan. Thanks for sharing your feedback.
Haha I know you're not prone to thinking BIG also
Multi dwellings would be the way to go no doubt once you start reaching those numbers.

Hey @Redom,
Awesome, thanks for drawing up those numbers -appreciate it!
No doubt I would probably start to reduce my debt as I progressed along, but they're some good indicative numbers to look at.
Cheers

Thanks again @Mick C.
True, I'm definitely experiencing the "Start off slow first" phase right now as we speak!
You've provided some great advice in here, really appreciate it

 

Ignornace has earned me $75mil then. All without a Broker. I didn't need one for my 1st deal and certainly wont need one for my next. Most brokers parade themselves as Gods and flash the MIAA, MBAA or FBAA on there cards, to gullible clients. How many Brokers actually hold a AFSL.?????

My guess...... not many. Yet many choose to give advice or advise a client on what they should or should not buy. There breaking the law. For the record, the MIAA, MBAA and the FBAA wont stand behind you or hold your hand in court, while your being sued. There answer will simply be, yes he answered 25 questions correct, we gave him a badge and a welcome pack.

As I said before, you dont need a Mortgage Broker.

My background is in corporate finance, commercial finance, commercial property development, distressed land aquisition etc etc.

 

Ok
Brokers don't need to hold a afsl because they're not giving financial advice.
I don't get (nor seek) financial advice from a broker, that's not their role
One is definitely needed to navigate / strategise which lenders / products should be used in which order, in order to build a decent portfolio.

 

Agree with you somewhat. The lines on giving "financial advice" are somewhat blurred though. I tend to find, Brokers deal with Banks, when a Business Advisor will deal with Investment Arms, or Silent Angels.

 

Ok but that's a different topic altogether, isn't it?

 

Yes and No, depends on how 2 people would go about purchasing a portfolio of 10 properties. 1 might use a Broker, the other might use an Angel. Same result in the end, everyone gets there properties, the deals are just done differently, via different mediums.

 

What are the requirements for these Angels you speak of? And why would someone use one?

 

Sorry to go back to the original post but why would you want 100+ residential properties with short lease terms, tenants with few claimable assets, governed by varying state legislation etc?

Once you've got half a dozen you'll take off the rose coloured glasses and chase returns on commercial property where you are subject to longer leases, tenant providing larger amounts of security, leases which you/solicitor have had input and limited legislative intervention.

 

My broker doesn't look like this!!

 

Corey does like pink tho

 

I guess BurnettGroup is referring to Angel Investors?

http://www.forbes.com/sites/allbusi...repreneurs-should-know-about-angel-investors/
http://www.forbes.com/sites/georgedeeb/2014/09/19/how-to-find-angel-investors-for-your-startup/

 

@FireDragon - Or dead ones.

 

Sorry guy's n gals, but no choccy biscuit for anybody, Im not referring to Angel Investors, or Charlies Angels. If anyone had bothered to read my post properly, which it's obvious you haven't, you would see, I said the following;

"Agree with you somewhat. The lines on giving "financial advice" are somewhat blurred though. I tend to find, Brokers deal with Banks, when a Business Advisor will deal with Investment Arms, or Silent Angels".

The secret wording, which everybody neglected was "financial advice". My reply was on Brokers giving advice or advising. A Silent Angel is normally someone who will deal with individuals or business who have a bad credit rating, but can show genuine cause, as to why they should be granted a loan. In the old day's a Silent Angel was also the term for those handling No-Doc or Lo-Doc loans.

So, if you cant read a simple post, how can you be expected to read a sale, purchase or lease contract, even a legal doc.

I can use smilies too.

 

@BurnettGroup - do you just come here to talk ****? Jog on mate.

 

Has anyone heard of the term "Silent Angel"? I couldn't find it in Google, Wikipedia and Investopedia... happy to learn more if someone can find an article on this.