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Positive for passive

Discussion in 'General Property Chat' started by giswal22, 18th Aug, 2015.

  1. giswal22

    giswal22 Well-Known Member

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    Has anyone actually created their optimum passive income through positively geared properly only?
    If so, where did you begin and what were some pitfalls?
     
  2. Richard Taylor

    Richard Taylor Mortgage Broker & Brisbane Buyers Agent

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    Yes very much so but i must say when I started back in 1996 the properties were not positively geared.

    It is a matter of creating a mix of both.

    You can have a read of my API interview and it might give you some clues.

    Either email me or download it from our webside.

    Cheers

    Richard
     
  3. skater

    skater Capitalist Premium Member

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    Hubby just retired. First purchase 1998, last purchase this year, but we sold down a few as well. No real dramas that were caused by the properties themselves, but plenty of dramas by external forces.
     
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  4. Leo2413

    Leo2413 Well-Known Member Premium Member

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    @skater so basically you sold down some to pay off the debt of others and now your LOR? 'Simple' and achieves the goal. What more is there.
     
  5. Steven Ryan

    Steven Ryan Mortgage Broker Business Plus Member

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    @Navid H Guia, @Michael_X are two friends whose ability to generate an income stream from their portfolio is short order blew me away. Incredibly inspirational.

    Reach out to them. They'll have some valuable input, I'm sure.
     
  6. skater

    skater Capitalist Premium Member

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    Yes.....and no!

    We sold some stock (older places), and we bought others (newer places). Excess funds are now sitting in offset accounts. We had planned on selling another one or two, but not sure if we'll do that now. We've got enough income for our needs, with plenty of assets to sell should we want, or need to do it.
     
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  7. Azazel

    Azazel Well-Known Member

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    Well played.
    Were they all positively geared from the start?
     
  8. York

    York Finance Broker Business Member

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    When you say external forces, which ones are you referring to?
     
  9. skater

    skater Capitalist Premium Member

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    Dodgy PM's! One embezzled a heap! We were down $25k! Another decided they didn't like out of area landlords. Loan book sold off to another financier & trapped at a high interest rate for a while. Family issues! Work situation issues! We had a lot of crap thrown at us all at once.
     
  10. Leo2413

    Leo2413 Well-Known Member Premium Member

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    :eek: hope you got it back...
     
  11. skater

    skater Capitalist Premium Member

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    Got nothing back. Look up SS "The importance of having a buffer". We had a heap of stuff all at once. It was a painful time.
     
  12. Leo2413

    Leo2413 Well-Known Member Premium Member

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    What doesn't kill you makes you only stronger. ;)
     
  13. skater

    skater Capitalist Premium Member

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    Hmmmm.........I'm strong enough now! I don't need anymore nasty surprises in my life.
     
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  14. Azazel

    Azazel Well-Known Member

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    Wow, that's a lot. How did you not notice?
    Was it over a certain amount of time skimming off several properties?
     
    Last edited: 21st Aug, 2015
  15. skater

    skater Capitalist Premium Member

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    It's all in the SS thread.
     
  16. chylld

    chylld Well-Known Member

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    @skater well done on pulling through all of that! Long read but worth it.
     
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  17. Azazel

    Azazel Well-Known Member

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    No worries.