I?m not a genius, but i can tell you, if you wait for the property to move up in value, or rely on your tenant to pay your debt off + tax cut on depreciations, you can be waiting a while.
Now add subdivision and multiplication to this equation and yes you can still make money.
It will not work on all types of houses and defiantly will not work on a unit or a apartment.
The old house in the best street with a massive block of land, that?s the ticket. Yes it will cost you depending on suburb, 500 to a 1.0 mil, but if you can get 3,4 or 5 parcels out of one, what have you got now.
3,4 or 5 titles. that?s write that?s how you make money in a flat market, if its a booming market you just make more money than anticipated, in a falling market, it will give you some gray hairs and you still make some money or at worst case you brake even.
This is not an advice just how i do it. It has worked for me for 15 years; I started with 1 then 2 now its 16. Yes more gray hairs defiantly more than 16.
I would listen to any expert here who can teach me to go from 1 to 16 in 15 years. I can tell you at least should I sell all in this market I get to keep 4, maybe 5 debts free. Should I sell 6 I can have the remaining at 50% LVR in anyone?s book that will me good night sleeps. Now there is no system out there that can show me how to cash not one but 4 properties in 15 years
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I?m not a genius, but i can tell you, if you wait for the...
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