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

Sure didn't help you with English! There - their - they're

 

@Ardi: are you an English teacher?

 

Im guessing most on here are around 20 - 30. Explains a lot.

 

Not at all mate.

Most likely, many people are on here to learn from others.
Not being a smart arse, but do you care to give any detail on your 75mil? Where did it all start and how did you build such wealth? Give us learners some insight on how such a large portfolio is built.

 

Im more than happy to share my expertise, Im more than happy to upload documents, but you guy's have to start thinking outside the square. So let's get some trust established first, then I'll put my cards on the table.

 

@BurnettGroup: consider the trust has been established .....
People here are interested to know your thought "outside the square" ....
Please be generous ....

 

You don't have to have anyone's trust here to tell stuff about yerself....

So anyway; about that $75 mill; just a few basic details of the history will do.

I find I am more willing to trust/believe what folks say when I hear the warts story as well as the roses stories.

 

Sorry, but no prize, but you can thank the keyboard warriors for that. There are a couple of people on here, that are serious about PP and PI, those I have already communicated with.

 

@BurnettGroup

So you are saying there is only a "couple" of people on this site that are serious about PI?

 

Sounds like someones trying to sell something.

 

Can't be selling too much - the only website are a pastoral company and something is the US.

 

Cow poo, horse poo?

 

Bulls....

 

At my last count, I'd say 2 x serious people, that I've communicated with. There are some, that say they are, but not quite sure where there going. But feel free to provide monikers of those that are.

 

That's a great background for someone to DIY finance for a deal, which makes your prior statement very logical...

Of course you don't need a broker. However, depending on your background, having a good broker can help a lot. For my last deal, I spent a week putting together the best deal I could find. Then I got my broker in to see what deal he could do. His was a lot better than mine. So no, I didn't need a broker. I could have wasted a lot of money on a DIY deal, or saved a lot of money by using a good broker. My background is not in finance, and basically, I suck at putting together a good deal.

 

Stick around a while. You'll find there's 100's of investors on here who'll contribute to yours (and everyone's) learnings. We all learn things from group discussion regardless of our experience level.

 

I doubt you would suck at putting together a good deal as you said, I think you dont have the right material in front of you to put one together. It's all in the wording of the contract. Buyers and Sellers tend to take for granted whats in a standard contract and use it as gospel. My answer to that is "********". A contract is anything you want it too be, if both parties agree, on the details, there's no problem, you have a happy buyeer and a happy seller. No R/E's or Brokers involved.

 

That's what I was thinking too. However, I don't think it is a dumb question. Mapping out a strategy to buy 100 properties is a learning exercise. From that exercise you realise it's not worth it! If you could get a decent residential property portfolio that was performing well, it would be a great idea to diversify into commercial investment properties.

@Taku Ekanayake, one way to increase the number of properties you hold would be to build. For example, you could buy a property that could be developed with 3 or 4 townhouses, build them and retain them for cashflow. That might be after you have a couple of good IPs up and running. I know my brother in law built 4 really great townhouses on the Gold Coast which could have provided a nice income stream if he had kept them . I was just thinking that might be a way of increasing your portfolio with quality houses.

 

Not sure where you're from (America maybe based on previous posts?) but the various state RE Acts in Australia say that purchase and lease contract edits/additions can't contravene the Acts (even if both parties agree to it).

 

By deal, I mean a finance deal. So, application fees, interest rate, ongoing costs. The best I could put together was a lot more expensive than the best my mortgage broker could do. I'm not sure where you are coming from with this statement:

I don't know how a Mortgage Broker would be involved in a purchase or sale. I know mine isn't. Mine gets me finance, that's it. And he does a lot better job at getting finance than I do. I negotiate all my purchases and sales myself. I would not let my Mortgage Broker anywhere near a purchase or sale negotiation.