Has anyone actually created their optimum passive income through positively geared properly only? If so, where did you begin and what were some pitfalls?
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
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.
@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.
@NHG, @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.
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.
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.
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.
Wow, that's a lot. How did you not notice? Was it over a certain amount of time skimming off several properties?
