YIP investor of the year - Steven Ryan

Discussion in 'Investor Stories & Showcase' started by beachgurl, 12th Jan, 2016.

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  1. Steven Ryan

    Steven Ryan Well-Known Member

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    If property was my only income source, being cf- for a decade would not make sense but these folks may have different goals – or not know enough to do different :)

    Plenty of I speak to are happy in their professions and planning to build a warchest of equity until they hit 50 or 60 (which is 20-30 years in many cases) before they cash out.
     
    Steven Ryan, 18th Feb, 2016
    #61
  2. ellejay

    ellejay Well-Known Member

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    Agreed. Seems strange to me though to go to all that effort for so many years to retire at 50 or 60. I mean I thought that was the whole point of cf- property , that you make large short-mid term capital gains? Retiring at 60 having been working consistently and holding cf- property for years (as these people must have been to support their significant portfolios) doesn't seem much fun? Each to their own, maybe some of these people are leaving money to their kids etc. I still think cf+ if you buy right, get the same capital gains and have the tenants paying down mortgage debt allows you to enjoy life earlier.
     
    Last edited: 18th Feb, 2016
    ellejay, 18th Feb, 2016
    #62
  3. Azazel

    Azazel Well-Known Member

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    Especially in Cairns!
     
    Azazel, 18th Feb, 2016
    #63
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  4. NeedMoreTime

    NeedMoreTime Well-Known Member

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    Congratulations @Steven Ryan, didn't realise you were famous when we chated at the stones corner meet up :)

    To quote the article "allowed him to build a solid property portfolio that nets him a substantial passive income stream."

    Did they get that wrong, isn't the portfolio negative geared (-$3.50 a week)?
     
    NeedMoreTime, 18th Feb, 2016
    #64
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  5. HUGH72

    HUGH72 Well-Known Member

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    Thanks for sharing Steven and congratulations. It's an interesting read.
     
    HUGH72, 19th Feb, 2016
    #65
  6. Steven Ryan

    Steven Ryan Well-Known Member

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    Haha.

    And yeah, they do exercise their journalistic licence (not to mention letting a couple typos slip). Anyone would think I had a $2.5mil portfolio owned outright on first glance.

    My total rent income is over $100,000.

    ..and so are my holding costs – at present ;)
     
    Steven Ryan, 19th Feb, 2016
    #66
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  7. See Change

    See Change Well-Known Member

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    At least you don't own a multi million dollar portfolio in mining towns ...

    Cliff
     
    See Change, 19th Feb, 2016
    #67
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  8. Azazel

    Azazel Well-Known Member

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    They can paint a bit of an overly rosy impression to rookies.
    You're the new Nathan! ;)
     
    Azazel, 19th Feb, 2016
    #68
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