Inspiration for those who think they can't from Taku Ekanayake

Ho Ho Ho

 

Um yeah... I think I did.

But to be fair.. I've asked , oh, what...maybe 20 times now.... for the facts? because I'd like to stand corrected if I have it wrong. But there have been none forthcoming.

The scenario I worked through was anything but predetermined. I used massively advantageous assumptions in the modelling, precisely so the well anticipated moaners and complainers couldn't accuse me of pre determining anything in order to create a biased outcome. I literally went out of my way to model the thing at unbelieveble, rock star, midas touch numbers.

Was it the quadrupling of rental incomes in 8 years that wasnt enough? Or was it the doubling of prices in 8 years that wasnt enough?

 

Right! So all the rest of your babble is irrelevant.

I don't know HOW he's going to do it. He might sell the whole portfolio & roll it into a development, sell & repeat a couple of times going bigger each time. He might start a Business. I don't know what the future holds, nor do I know how serious that number is. It could just be a number rolled off the top of the tongue with no thought going into it. But what I do know is that if you don't try something you will NEVER achieve it. So dream big & aim high.

 

Why?

 

and thats the 2nd serious answer in 8 pages. Well done.

 

Figure it out. You're a smart guy.

 

Still standing there tapping your feet, aren't you.

 

Yeppp!

I happen to pick up a copy of the SMH two days ago which is a newspaper I rarely buy and I see one of our own featured in it. How wonderful I thought. I should start a thread on PC

I anticipated a celebration of a young man who has made a great start to his journey and
has some lofty big hairy and audacious goals.

Instead the thread gets derailed by forensic nit picking and an insistence of the documentation of a master plan that may see @Taku Ekanayake strive toward a seven figure income stream. How he achieves it is no ones business but his own until such time as he wishes to declare it on a public forum that bears his name or not. His prerogative.

Well those who............
Have
Anger
Toward
Everyone
Reaching
Success
.....................are just going to do those things.

Never mind, there are plenty here who celebrate success and the aspirations of those on their journey. Those who merely tolerate people well on their way are a paucity in number.

Peace and out

 

And there it is. Only took 8 pages and every man and his dog trying to ignore the fact I'd asked a very simple question, and deciding to go on the offensive instead.

 

thanks @LifesGood - glad you got something out of it!

cheers @Noobert! do it, he's a game changer

anytime @cherubym - thanks for the kind words

this made me lol. Uncle Gee aint tea!

 

thank you @skater ! appreciate the encouragement.

cheers @ross100

appreciate it @karmark

cheers @apk !

haha enjoying my main line of work right now so nothing yet

@Leo2413 you're in!

@Perthguy thanks mate - appreciate the support

 

@Johnny Cashflow that's just your reality mate. you gotta let the mind expand a bit sometimes and not live in such confined borders

I can still service more debt @Barny. I have mapped out with my broker. also my income continues to increase - I'm in sales and work off commission also along with base salary. only been in my current job for less than a year so things are only starting to ramp up.

i just keep buying similar properties as I have been. not changing my strategy too drastically to get to 10 IPs. it's got me more than half the way there.

not worried about rate rises right now. the banks stress test if I can still hold my properties at 7%. I'm sure they will happily tell me in advance if they think I can't service. if interest rate rise 1% overnight, over a $1.5M debt, this only equates to an extra $288/week. i can manage this. if it jumped 2% sure it would not be good, but I could manage this. I save a lot more than this per week. RBA just don't hike up 2% over night, they would do this over a gradual process.

everything is I&O.

 

haha thanks @mikey7 - didn't know anyone was listening. my whole 5 mins of air time.

@Player love this

 

Found a link!

Ben Fordham - Sydney Man Using Uber To Crack Property Market

 

@Taku Ekanayake because of your strategy you are sitting in a decent amount of equity. If things really went south fast, you have the option to sell up a little and pay down debt. The main point is you have options which many people do not.

 

A lot of effort went into your reply just to point out the shortcomings in his portfolio and again massaging your own ego re NRAS.
Sure maybe like others with CF properties the road is a little longer and not paved with gold, but it is better than the alternative (when on limited salary or income) of spending your cash on shotty lifestyle expenses and keeping up with the joneses.

Mum always said to me "people don't like people who gloat"...

 

@Taku Ekanayake Does the Uber driving really help lift your income to another level?

I have been considering it for sometime. Have always owned mid 90s Nissans my entire life and just sold my last one in the past week. Seriously considering jumping on the uber bandwagon and making some extra money instead of watching Netflix during weeknights/weekends.

 

Something to consider is that the benefits are not just financial. Netflix is a waste of time but uber driving is productive time. You will also meet and interact with a wide range of people. Sure some of these will be a waste of time too but who knows who you will meet? I don't think it's a very big financial risk to give it a go. If it doesn't work out for you then you can always leave. Nothing ventured, nothing gained.

 

wow, just read this thread. I don't really understand the animosity towards @euro73. I think he? has asked some perfectly valid questions.

 

Firstly great work on your portfolio @Taku Ekanayake

With regards to the many posts on the $1M passive income in such a short period of time. I have to admit your goals are rather ambitious. Infact a goal of $500k in the same timeframe would be very ambitious.

There are two ways as I see it to get there or even halfway there. They are business and/or development.

I have chosen a goal of $200k in 7 years off a zero base and I am 2 years into my target. I am focusing on development to get there. It's hard from a zero base but once you grow some working capital you can see what's possible.

Best of luck.