Public opinion of property investors. (Tony Flemings 13 Properties at 28)

He can probably achieve that as well at a much younger age if he wanted because he knowns how to plan and execute that plan better than most Sydneysiders who think not living in Bondi and not eating out everyday at a pub means no life.

 

So true.

 

I wouldn't have aspirations in the short term if i were him. Wait for more growth to come in the next year or 3 then he'll be able to buy in as he pleases.
But I'd take a punt and say the strategy is to continue renting - wherever he likes in Sydney, establish the business then reasses later and buy later

 

How many of these properties are solely owned, not JV's with his mate?

Regardless, I don't want to bag a bloke for having a go. He's started a buyers advocacy business and the press is naturally in support of that.

 

I think ultimately most people don't like to be confronted with something at odds with their personal situation because it makes them question the path they are on.

It doesn't bother me if someone has 100 properties, or thinks a PPOR is a bad move as it reduces opportunity to invest more because I'm happy with my plan. Although it is good to see what other people are doing because maybe I can incorporate something into my strategy.

 

Unfortunately Its part of the Aussie culture, you wont get this in USA for example they have a different outlook, they admire successful people.

At the end of the day we are only human but by allowing the green monster to rule will limit growth.

I choose to grow and embrace people who have achieved financial success and learn from them and it makes for a happier life.



MTR

 

I'm not hating on him, and actually commend him on his efforts. I always hate how the media always say how a young person has obtained X amount of properties etc. What about a person who obtains 1 property at $5m as opposed to 20 properties @ 250k each...

I do wonder though, with 13 properties returning gross rental of $130k/year. Simple calculation of that is $10k rental income per property per year. Awfully low isnt it? and I wonder how geared he is overall too. I really cannot see how quitting his job, living off the $130k gross excluding all property related expenses can allow him to be seen in this light.

 

A lot of Americans are also about to vote for Trump so let's not big them up too much.

All I'm saying is if he sold today all his portfolio, he may be able to just buy the median house Price in Sydney. Man pays off home by 30 with thrifty lifestyle probably wouldn't sound so sexy as 13 properties however.

 

Hi everyone I thought I'd clear the air as a lot of people seem to have some questions/assumptions about the whole story
-I'm in the position where I have been able to have enough passive income for my bills, lifestyle, repayments and have enough for savings so I semi retired, remember my full time salary was quite low
-My strategy suited my needs and wants and its obviously not a strategy for everyone. I had a limited income and I did the best with what I had
-The Buyers Agent business is exactly that a buyers agent business. I don't offer mentoring/map services and I tell clients that they should seek a Financial Advisor if they are looking for a Investment property

For all its worth I've got plenty of hate but I've also had plenty of people contact me that are young and on low incomes. Hopefully it's helped a few people who didn't think home ownership or building a property portfolio was possible.

 

Tony is an inspiring and positive young man. He is always going to be successful and smart enough not to be derailed by anyone's opinions or negative comments.

You are awesome Tony and Hayley, keep going and keep doing what you love.

 

loose
adjective: loose; comparative adjective: looser; superlative adjective: loosest

1. not firmly or tightly fixed in place; detached or able to be detached.​

lose
verb: lose; 3rd person present: loses; past tense: lost; past participle: lost; gerund or present participle: losing

1. be deprived of or cease to have or retain (something).​

 

One of my friends has become rather jealous since finding out I have 2 IP's.

Im the only one in my group of friends to have PPOR (and/or IP), and when I bought that 3 years ago he kept saying "you're just a lucky person". He seems to put everything down to 'luck' not the fact that I've sacrificed some socialising, new cars, new boats etc. He earned more than me at the time too.

When he heard about the IP's he goes "So you have 3 houses and I don't even have 1. I told you you're lucky".

All while he drives a new car, buys a case of beer and a bottle of jack each week, and goes out for dinner regularly. He must just be "unlucky" accumulating his $70k debt?

If it was all due to the fact that I was 'lucky', I'd have about $1 billion in lotto wins by now

 

OK...so 1.4 Million at 4% = 56K Interest Expenses (and lets face it, if he has servicing issues as he has indicated, he isn't getting the money from a lender offering 4% , and he may not even be getting the money on an I/O basis , so we are being very generous with the assumption of 4% I/O Its much more likely to be in the 4.5% range , so probably closer to 63K per annum. ) Add expenses for the rest, and as you said, he may gross somewhere between 24-34K before tax.

As you have said - to be applauded for doing something rather than nothing, and for getting started early. At least he is having a crack - but let's be serious. He is no longer positioning himself as a buyer. He is now seeking to position himself as a buyers agency service (as others here have done) off the back of what , under scrutiny, amounts to a portfolio of 13 properties that generate 20K (ish) income after all expenses. And a quick calculation tells you that same portfolio would be generating zero surplus income at 5.5% rates.

Now to be fair to Tony, there are others here with far smaller portfolios (both property number and total property value) and significantly weaker cash flow who are also proposing to sell themselves as buying experts... so I guess he is at least better positioned to be viewed with some seriousness than those other members. But still, when the numbers are scrutinised, the strategy employed and the numbers generated are pretty undwerwhelming as far as cash flow goes.

You can generate 20K tax free with just 2 or 3 NRAS properties, or 2 or 3 dual occ properties. Better yet, 100K less (1.3 Million) in debt could have been deployed into 5 of the 260K Port Macquarie 1 bed NRAS approved apartments where my clients just settled , and they generate 11K each tax free , so 55K tax free per annum.

Far too many of these stories fail to adequately scrutinise the bottom line. Publications then provide the subjects with an implied guru status or young gun status, they build a profile and then sell other services to the hordes who flock to them , blissfully unaware that the guru/young gun is actually making their money from those sold services rather than any measurable, effective strategy

Nothing wrong with any of that - we are all capitalists But none the less... we should be sure we know exactly what we are being sold.

 

How is this strategy working out for your goals?

 

Pretty sure he's a repossession guy. So when all these people go belly up he'll be there to pack the boxes. Good strategy @$22ph

 

I read the story and I think what you did with what you had is great!

 

Very good point, that is why many newbies invest in cheapie areas, because its all they can afford, sometimes it works well and sometimes it will be a disaster as we know

 

My mate earn over $100k per year, is struggling to pay off a $330k PPoR and has $35k of credit card debt.

I think @Tony Fleming's portfolio is far from underwhelming.

 

The fellow expanded rapidly during the mother of all property booms. So no doubt he has substantial equity, I wouldn't be too concerned for his position.

Though at this point in the cycle in his location it would be impossible and dangerous to try and replicate

 

Well said, timing is everything, and he got it right good on him.