- Sonny JIMMember@sonny-jimJoin Date: 2004Post Count: 7
I require $1million a year in rental income, how many properties will I need.RodCMember@rodcJoin Date: 2002Post Count: 335
100 $100,000 properties yielding 10% would give you that income (gross). Then again one $10,000,000 also yielding 10% would give you the same.
What market segment did you have in mind?
Rod.IbuycashflowMember@ibuycashflowJoin Date: 2004Post Count: 274I require $1million a year in rental income, how many properties will I need.
How many balls of string do you need to reach the moon?
I guess the answer is, only one but it would have to be a big one.
Jeffwealth4life.comMember@wealth4life.comJoin Date: 2003Post Count: 1,248
Sonny Jim, my question to you is why ????
If you had a caculator and knew how to use it do the maths on the yield at 5% – 6% – 7% – 8% – 9% – 10% and so on.
This is called the basics mate [blush2]richmondParticipant@richmondJoin Date: 2003Post Count: 831
I’d be more curious to know why he requires $1million a year in rental income.ProdigeeMember@prodigeeJoin Date: 2004Post Count: 3
Just go and ask Eddie Maguire for some assistance.AdministratorKeymaster@piadminJoin Date: 2013Post Count: 3,225Originally posted by Prodigee:
Just go and ask Eddie Maguire for some assistance.
I’m with you, Prodigee. After raising a family on a teacher’s wage, $1 Million/year is my cuppa tea [cap]
GregalexleeParticipant@alexleeJoin Date: 2004Post Count: 46
Why would you need $1m a year? Ferrari, Armani, waterfront mansion in Manly (I’m a Sydney boy), summer in the Hamptons, winter in the casa in Italy, flying First Class all over the place….
I’m with you, Sonny JIM. My goal is $1m as well.
Now, the $1m question is: what plan have you got to get there and/or what are you currently doing every day to progress towards your goal?Robbie BMember@robbie-bJoin Date: 2004Post Count: 2,493
Is this a loaded question or what?
FREE Finance-Related Newsletter: See – http://www.mortgagepackaging.com.au/index_files/newsletter.htm
Comments made are of a general nature and should not be construed as individual advice.
Â© 2004 Mortgage Packaging Pty LtdJulian2Member@julian2Join Date: 2003Post Count: 82
Surely SonnyJim requires $1m pa nett after all expenses and taxes – which is only $20k per week!!! A person’s gotta live!!! Some of those Sydney restaurants are pretty expensive, you know.
JulianMichael WhyteMember@michael-whyteJoin Date: 2004Post Count: 269
And to get there is no small feat. Peter Spann made $10M in 10 years, but his leapfrogging technique meant this was all encumbered. Now to make $10M unencumbered he’d have to sit on that for 10 years until it doubled in value to $20M, 50% encumbered. Then you’d have your $10M in equity to retire on, but that’s a 20 year plan. I think I want my $10 mill a bit faster than that… [biggrin]
Michael.DazzlingMember@dazzlingJoin Date: 2005Post Count: 1,150
A little ol’ shack just down the road sold recently that rented for $1.3MM per year, signed up for 10 years too…..so the answer to your ridiculous question is less than one.
But then, if you were able to afford it, you wouldn’t be asking questions like that…
Grab a calculator and some grade 6 maths.
“Go hard or go home”Mars_2Member@mars_2Join Date: 2005Post Count: 5
Poor ole Sonny Jim gets a caning…
Looks like we don’t like greed in this forum. Perhaps jimbo wants that much to give away to charities…?
(This is your chance to redeem yourself SJ – go for it)ezy.home.loans23320Member@ezy.home.loans23320Join Date: 2003Post Count: 144
I dont think this is a silly question ,
maybe your requirement of $1mil is a little high but
how do I know what you need this much money for, maybe you are going to feed and house the poor.
How ever take your 1 million divide it by 52
remember to factor in the costs …
if you earn $50 per week after cost x by 52= etc ect ect……by doing this you will work out how many properties you will need…10 prperty’s earning $50 clear per week is $500 x 52=
get my idea….I wish i new your idea so i could try it to….I am sure it would ezy if you new how.[buz2]