All Topics / General Property / Passive Income from property

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  • Profile photo of jsprijspri
    Member
    @jspri
    Join Date: 2004
    Post Count: 55
    July 24, 2004 - 7:45 am

    Hi all, I’m looking for confidence in the property game :)

    For some fun and confidence for my self and others in the same situation trying to find there first IP would people be willing to post and estimate on there passive income from “Property”.

    I dont know if this is to forward but just wondering how many ppl are actually getting an income and whether its greater then there slaray.

    Thanks a lot, any info and confidence boosting will be much appreciated by my self and i’m sure others as well.

    Profile photo of westanwestan
    Member
    @westan
    Join Date: 2002
    Post Count: 1,950
    July 25, 2004 - 12:38 am

    hi jspri

    while i don’t want to name figures i quit working at the end of last year. My income form my investments is now greater than my previous job (not that i was on a very high salary anyway). But now i also have more time to really boast my income, i have time to search for fixer uppers which can be easy money. I’m forming partnerships with others where they do the work i finance and we share the profit. i also spend a lot of time working a new business finding homes for other investors which is providing good income but i’m unsure how much longer i’ll be able to find really good deals.

    regards westan

    I live in New Zealand and for a fee find cash positive deals there, email me at [email protected] to join our database

    Profile photo of PepperPepper
    Member
    @pepper
    Join Date: 2004
    Post Count: 48
    July 25, 2004 - 1:43 am

    Hi jspri,

    Sadly I am still having to work, not that I mind too much I guess as it keeps me honest[biggrin] but I can’t wait for the day when I can tell my boss to taking a flying leap!!!!!

    Being a wage-slave sux big time regardless of whether you like your job or not. Its okay to like what you do but working for yourself is what really makes you money, or rather making your investments work for you really makes you money!!!!

    In the meantime its onward bound….

    Pepper

    Profile photo of jsprijspri
    Member
    @jspri
    Join Date: 2004
    Post Count: 55
    July 25, 2004 - 7:12 am

    Thanks for the replies. =], happy house hunting.

    Profile photo of kay henrykay henry
    Member
    @kay-henry
    Join Date: 2003
    Post Count: 2,737
    July 25, 2004 - 9:24 am

    jspri,

    From what I recall reading on here, and seeing some people provide examples and running the numbers through, for example, Jaffasoft’s calculator, I’d say if people were making $60 a week clear, they’d be doing what seems average. So that would be about 14 CF+ houses @ $60 a week X 52 needed to get about the average income of $43k. It depends on how much income you want. If you want 100k per year, it would take about 32 of these houses to get such an income. Having a salary can mean you can get income on top of your rental income, or if you don’t have the 32 CF+ houses, then it takes the pressure off as to serviceability. You also get a few hundred thousand superannuation paid by your employer, on top of your property income.

    kay henry

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