A key factor often overlooked is that over 25% of new homes are being acquired by investors, rather than individuals seeking primary residences. Even if Baby Boomers decide to offload their properties or more housing stock enters the market, it won’t alleviate the underlying issue. Wealthy investors will continue to absorb the available inventory, which will keep home prices elevated.
There's also a lack of discussion about the role that major financial institutions-banks, private equity firms, and giants like BlackRock-played by purchasing properties post-2008, treating them as investment assets. It's impossible to fully understand the current housing crisis without acknowledging this trend. Additionally, larger luxury properties are inherently more profitable than smaller, more affordable homes, leading developers to prioritize luxury developments for higher returns.
They also play an important role buy offering more homes available to renters. Not everyone one wants to have the burden of a mortgage. In Melbourne now as investors exit the market from land tax, rents are rising and vacancy levels are very low.
Before watching this, you would think that he was just a rich guy and just bought heaps of property, pull out the equity and service his property with his wage. But 24 minutes in, he is hard working, completely researched and all in in terms of focus and dedication and passion. This is why he is so successful.
what a great interview, and a great story. thanks so much. makes me feel like I'm not to late. I have just found your channel and will continue to watch.
Awesome to hear mate! and 100% never to late I started investing properly in my early 30's left my job 6 years later. keep smashing it bro you'll get there :)
What an inspiring story.. My son is 23 and is earning $60k from his full time job so he knew that he needed to earn more money if he wanted to get into investing so got a part time job, now earns $80k and is abt to purchase his second property. Videos like this really help so well done 👍
@@pragyanbimali66usually little to no equity over leveraging position with current interest rate. most new "investor" people with that income range who boast about rental properties are people who got lucky with market timing and able to roll in equity to more current market value homes sitting on little liquid and hoping tenants make next rent pay. if it works out, it will work out just fine. saw my military friend lose his shit when his decent house was sitting vacant with two mortgages burning money on interest than principal payment. I'd rather sit on 150k cash earning interest rsther than sitting on 150k equity accruing more interest than equity. make sure to study "bad" side of the what ifs and dont invest more than you can lose
Great episode Todd, thanks… Michael was a great guest and yes you are right, the average person would be sitting pretty with 1/4 of his portfolio. You’ve got a gun channel mate, the subs will come 👍🏻
This video popped up in my recommendations. I am not into property investments, but this interview is pure gold. Excellent interviewer and interviewee. Great use of examples, and all the burning questions were asked. I might check out more of your other videos. Once again, this is the best interview I have seen about investing in Australian properties.
There is a guy from Mt Druitt (Sydney Australia) who grew up in a housing commission house with single mum family owns 200 properties and make net income of $500,000 per year.
It’s very refreshing to listen to a successful property investor talk that is so easy to listen to and is so humble. Well done Michael, you deserve all your spoils. Rob
Thank you Todd and Michael for this awesome interview! Just a question for Michael, were your parents the owners of the IGA in Rooty Hill? I'm actually from Rooty Hill. I remember the couple who ran the store. Keep up the good content Todd. Love it!
@@Michael_Xia I knew you looked familiar, you most probably did serve me. I loved coming there after school to buy snacks and lollies 😂. What a small world in deed. Congratulations on your journey!
Awesome sit down Todd and Michael. One thing, I would’ve loved to know is: What Michael uses for record keeping for his portfolio? Is it spreadsheets or specialised software to help manage tenants, expenses, bookkeeping, capital improvements, depreciation, taxation and tracking purchase costs, yields, gains, losses etc.
Great interview, thanks:).Good on you Michael. I wonder what the mortgage payments are per year if the rental income is 2 mil. Because 2 mil per year must surely be enough to buy a "great principal place of residence" by now
@@pizzaandproperty1246 Maybe:) but if that's the case (and I say this with no disrespect to Michael) then Michael has been infected with what is a classic definition of "Greed":) - ie "an insatiable desire to have more and more +bigger and bigger, etc. "
Hey Jose, probably wouldn't tackle answering this in the comment section, but if you wanted to reach out to Micheal direct try his website below. I'm sure he'll be able to talk it through and help show you the options you'd have. have a great day mate! www.mortgagechannel.com.au/
These things can’t be replicated anymore. If you didn’t hop on 10- 20 years ago it’s impossible to do the exact same now without major funds from either parents or elsewhere.
I don’t understand this, how can you buy property after property when the bank needs to know you need to be able to service them, and even if you have a really good salary at the absolute most your servicing would run out after 3 at the max….
This is a great questions mate, one not enough people are asking! There's a massive difference between buying a few properties and later releasing you're stuck ( which is unfortunately the mistake a lot of new investors fall into) And putting together a plan that maximises efforts and chances of significant portfolio growth. One of the best first steps you can take is making a time to sit down with a mortgage broker that's built there own portfolio past 5-6+ rentals ( DO NOT do this with a broker that has 0 or 1-2 properties ) and ask them to run growth scenarios of the kinds of rents, equity gains, income etc you'd need to produce to continue portfolio growth. The more you grow as an investor the more complex it becomes but the above is a great place to start to give you a set of parameters to aim for in the kinds of properties you're looking for, and your own personal income goals.
@@timetravela9578 yes agree that his lack of detail on this is troubling. How did he crack the borrowing ceiling? I ran into the same problems by prop 30. Did he set aside a portion of property to buy Reno and sell and use that trading income? Did he go low doc back then? No doc? Back then up to 2015 banks gave some brokers authority to write loans .. crazy … is that happened to him? Happened to me which was amazing. He needs to share about his credit conditions. Pre royal commission… and the leg up he had. He refers to the accountant letter’ method that siphons off trusts so they don’t form part of serviceability. Again no details but this is worth exploring for most listeners. Did he cross collateralise? Most don’t out of fear of legal issues yet there is. A way to do it safely. Did he substitute securities with term deposits , other securities., if so how , and explain how this allows one to break the borrowing limit. Come on mate get real with listeners and share your borrowing limits journey Sadly No details on funding which defeats the point of such an interview and listeners like you are just as confused
Excellent interview. I would love to know post 15 property’s what enable Michael to push to 62 property’s in such a short time. Whether he invested in apartment buildings ie. own developments.
Great question, a lot came from increasing cashflow and adding value to properties. As well as introducing different forms of borrowing like commercial loans.
@pizzaandproperty1246 seriously, the interviews I have seen there is far more emphasis on, property went up, and little on, that's nice, but can I even afford to refinance and pull that equity out. I feel only half the equation is discussed in great depth . love your interviews, they are refreshing to see..
How does he get to 62 properties in such a short time? Has he moved into property development and built townhouses or small complexes of units? Havent had the time yet to watch the entire video tonight but just pondering..
@@pizzaandproperty1246 man everyone in this world is listening to thisninspiration shit online none of this was around 10 years ago. We are not in a better position now in society as to what we were back then is all.im getting to. Wealthier perhaps but not the solution.
In property Investment, the one who pays the monthly loan is the tenants and the property itself. You pay none or little… how ? so avoid Sydney such as Eastern suburbs or you will be out of your pockets…
That's $42 per week before expenses, cashflow is still pretty solid after but that's Michaels details to share if he wants to 🙂 Hope you enjoyed the ep mate!
@@pizzaandproperty1246 How can I ask if Michael would care to share that info? Just interested to know what's left after expenses roughly as it seems like a huge risk to take and lots of properties to manage of the chuck left behind isn't more significant than the work required. Just curious to know realistically how much passive income a year a most accomplished property investor could make?
Great question, love that you’re thinking deeper about this mate! Michaels website should be in the show notes to contact him but I’ll leave a link in this comment if you want to reach out to him www.mortgagechannel.com.au/about
Great story and interview. Real down to earth and not sugar coated. I’m wondering who do you need in your team for your first purchase? Is it worthwhile to just use a buyers agent and a broker while you learn the ropes?
While he was doing these, I was working really hard at the university, did my bachelor, msc, and phd all with top results.. and here I am with a salary of 120k and a family.. could not afford to rent a decent place..😢 i will make sure my kids do not follow me..
Honestly makes me sad to hear someone obviously as hard working and smart as you must be not enjoy the fruits of their labour. Never to late to change course investing wise did you want to start building a property portfolio?
Hi, just wanted to say having a family is a massive achievement! It’s a huge responsibility and they are the next generation. Enjoy the moment mate. Life is tough, I am in similar boat and at times May seems like there’s no light 💡 at the end of the tunnel But keep going 👍 keep learning to improve financial future!!!
@@dnajournal4321 civil engineers doesn’t get much actually..not enough money in research career and industry doesn't really need phd..as I said not a good choice I have made.
I'm half way through the video, I hope there will be discussions about how is he going to service the costs of 62 properties with endless bills of council rates, strata fees, maintenance cost (you only need one broken AC or oven or hot water system, it'll cost you thousands)
@@pizzaandproperty1246 I don't think he mentioned any of that, except he said he owns a business now, guess that's how he services the expenses of 62 properties.
@@JayZ-cx6pxin addition to their mortgage brokerage business they also have a property management company. That looks after their entire investment portfolio. I doubt they would have trouble covering these little expenses, at their level of wealth.
@@bobiscute5693 true, still that would be useful and helpful for anyone who has started the journey to have some insight of how to cover those relatively large expenses, especially during cost of living crisis atm.
Hey Jay, I understand your question better now mate, a lot of investors will put away a maintenance fund of around $40 per week for things like this. Personally this is what I do for each property in addition we have a small slush fund of about $5k for each rental we own, some years this $40 x 52 = $2,080 is spent on maintenance sometimes it's not and goes into the slush fund to keep building. it doesn't change much at this level as long as each property has buffers in place the buffers simply grow as the portfolio does. Hope that helps mate 🙂
46yo and getting into this property investment idea just now. When talking growth potential, what do you reference when deciding/guessing the potential? For example, I look at industry/employment in the area and surrounds as well as ease of transportation. Is this an accurate way of researching? 46yo and getting into this property investment idea just now.
@@pizzaandproperty1246 i get it..a success story...etc...but it made me think how many others are like him?? Multiple properties 1-10.. sure...but anything over say 50 to 1 person, its crazy but good on him...
Yeah I hear what you're saying mate but who draws that line though? Some might say 3 is to many. Really if one person owns 50 or 10 people own 5 each it doesn't change prices. If you really want to look at a sector that will have the size to move the price of the markets and keep people renting look into how the BTR space it's going to begin taking hold in Aus over the next 10 years when gant super funds start buying up big chunks of the Resi space.
Let's be honest investors drive prices up does not matter if it is in property or stock markets with out investors prices would not move this much that's the reality of it. There is a smart reason why he buys in one location always he gets in cheap buys up alot of the area and I'm guessing the investors he brokers for he also tells them to buy in these areas which naturally pushes prices up there is nothing wrong with what he has done and his created a wealth for him self and his family which is what most of us are trying to do
Good for you as long as your happy 😃 life’s to short I own 1 property now and millions in dividends stocks and will never spend all my cash before I die 🤔🤔😃😃😉😉😉😉💰💰
I understand equity and rental yield, i just don’t understand how to service loans on like 4 houses, are all his tent more than the loans? Its much rarer nowadays to get positive cash flow investments. Would appreciate peoples advice/experience
Problem is now if you buy investment and loan it all out pretty much with interest rates you wont be net positive at all. Mortgages in aus repayments are almost 2 times what you can get in rent lol
That’s sorta right, your thinking about yield at purchase, building a larger portfolio takes into account more future planning and looking into future cashflow.
Fair point mate, the episode was already almost 2 hours if every single detail was outlined we’d still be watching it haha But if you’re wanting a better outline of CGT check out this ep should help a lot bro 😊 th-cam.com/video/byIEcQtwyIw/w-d-xo.htmlsi=tXm4XZS_Y7ZP6-Xg
Hey Scott, I thought he did answer that talking about the growth they had and the value ads he did to be able to pull equity out, or are you referring to the detail of a step by step how to pull equity?
I’m not sure why anyone is focused on the school he went to, 62 rentals $42k per week rent is the episode focus haha I can make an episode opening up more details of his school if everyone would like but I feel it really misses the point of what Michael’s achieved
Great question, his land tax is minimised but there would be a portion paid depending on the state and how its assessed. The real reason we didn't talk about it is simply because we had to draw the line somewhere otherwise this could turn into a 10 hour chat with Micheal 🙂 Were you after some content explaining more of the details on how land tax works?
Hey Detective David, you’ve got your facts mixed up there mate, if you watch the video it’s actually really helpful for anyone wanting to learn how to scale a portfolio to large level in Australia. Happy investing mate 👍🏼
@@pizzaandproperty1246 would you consider my 1st property a success I bought a 1 bed unit in Homebush west for 420 in 2020, it’s now worth 480 with 570 rental
Doesn’t mater what I think, if it’s done what you want it to do as an investment it’s a win! Don’t let a choice that might not have been the best ever stop you from moving forward making better decisions 😊
@@pizzaandproperty1246 it allowed me to purchase another property, so I think it’s a win, although I’m learning that property also comes with costs, maintence, tenant complaints etc
Something doesn’t add up..what builder works for a year with no income!how’s the builder & other workers surviving? Do you think a bank will let you pay your debt a year later or a year of shopping for a year? Cmon man..way more to the story than mentioned!
There possibly is mate, but I’m pretty sure Micheal said the guy was older didn’t really need the money and took a shine to a young man giving it a go 100% it’s not a normal thing, I’ve never had a builder offer that to me but I’ve now interviews 100’s of people that each have at least one part of their story that’s an extremely lucky 1%
Aim of the story Rent where you want to live Get investments, pay interest only. Rely on capital gain. Withdraw equity to go again Get 62 property and still not have a home to live in
People complain this guy is a problem, no he’s not. Buy an investment property and you can borrow more, due to the addition income mostly. First home buyers, buy an investment. Borrow more, get in the market. Sell for capital gain and buy your PPOR.
Made me doubt his credentials when he said one of his “best performing properties “ is a Macquarie park unit , 3 blooming flight walk up. Cost $400k. Lets say it’s worth 800k today (which is what best ones go for near Waterloo rd). If that’s one of your best in a 62 property portfolio then you are naive or don’t know property. Cap growth Adelaide, brisbane tas in that same period (assuming he bought mac park 20 years ago) is around 500 to 600 per cent!!!
Hey mate, it has more to do with the land content share of the complex and the deal that's being negotiated with a developer to buy it and another plot, adding substantially more value to his unit. Otherwise good spot in the details bro sounds like you've got a good handle on a few markets :)
He said he is joining the other owners of the complex to sell to a developer for about $1.5-1.6M - that’s 400% growth in 14 years - that’s a great return on capital alone without factoring yield. I’d be extremely happy if my portfolio was perdoar that level
You missed the part where he said the unit is now worth $1.5m to $1.6m as all lot/unit owners have combined to propose to sell all at once to a developer. If it’s a unit block, will the developer then demolish the entire block or renovate?
I get people buying a handful of properties to set themselves up for retirement and the argument of adding to rental supply but this is an example of pure excess and greed. He has bought up massively in areas with affordable housing which really does take away from people on middle to lower incomes from owning their own home. Cue some condescending comment from the host to justify his strategy 😂
Not sure it's that straightforward, best speak to your accountant but here's a pretty helpful link below mate 👍🏼 www.infochoice.com.au/home-loans/rental-income-tax
@@pizzaandproperty1246I really wonder, once you own this many properties, which structure is best to own it under? Surely all 62 properties have not been purchased personally?
i can't afford to buy property cause of people like Xia who hoard property and over inflate rental prices. Was born in 2004 only just graduated 2 years ago and the market is now to expensive to enter cause of property investors and government
The systems definitely not 100% fair, if you want to learn more about property investing, how it really works and can make you’re life more financial secure there’s a ton of free content here that can help The blame game won’t make you happy bro but taking action for yourself will 😊 Check out Harley’s story th-cam.com/video/SKvRDXZay0M/w-d-xo.htmlsi=kKXMmOx_RMnZCGYI
@user-zq2yu4iw2h Mate you realise he's actually "helping" the Government to provide Rental Accommodation to the general public? In fact he's doing an even bigger favour to the public than most investors as he's taking on alot more risk to provide the general public with rental accommodation. Without property investors where do you think Rental properties come from??
Owning 62 rental properties is complete greed. You are part of the problem. This just makes the market even more scarce and makes it harder for everyone else to afford a property. People like this should not be praised or worshiped in any way
No need to apologise, if you’re keen on learning more about adding more rental stock to the market and how normal Aussie are creating stable financial futures for themselves we’ve got a lot of content that can help you out 😊
@@JustinCryemate, the TAFE is there for you to learn a trade, or even be an apprentice and earn an income while learning so you can be part of that building as you say. Be proactive, start doing something, learn how to manage your finances, spend less than you make, leave within your means. Tell me what you want to sacrifice in order to achieve your financial goals and freedom. Because it’s not easy mate, but it’s doable and it takes time. Good luck
@@PeonyandRoses yup, all true. But for myself I’m not worried as I’m already well established in the market. I’m worried about the next gen coming through. And while having a bigger talent pool of builders to hopefully lower the price of a build, it still doesn’t fix the problem of having prices set too high because of lack of stock. So to be clear, I agree that getting young people into tafe and active in this sector is essential. Unfortunately it’s only one cog in the machine and until immigration is handled, prices will remain high and out of reach of many Australians.
@@JustinCrye what I don’t understand is, why so many Australians are against immigrants? We are such a huge country and not even 30 million population, when the ageing people number is increasing exponentially. Aussie women more and more adopt “child free” approach, or best case scenario give birth to first child in late 30th. Demographic statistics are catastrophic. Whose going to look after all this ageing people in terms of medical care support etcetera? Where are we going to get the work force from? We need to build more houses but we simply don’t have the skilled workforce to do so. So , yes we need more immigrants in Australia. We can’t survive without them.
Micheal doesn’t talk publicly about his LVR, I respect him even sharing his story at all. While there’s obviously a lot of debt it’s not as much as you’d think. Instead of making assumptions on parts of this episode that don’t help you, take time to learn how his failures and his wins can be learnt from to help you on your own investing path 😊 Happy investing mate 🙌🏼
@@pizzaandproperty1246 bs it’s all debt if he has nothing to hide why not be transparent. Because he is all owned buy the bank .maybe he owns 60 to70 percent the rest owns buy the bank 🤭
Don't hate the player, hate the game. But why not play the game? Not everyone can do it and execute. Heaps of effort, negotiating, work, research, knowledge, finance, educated choices. Most watch on the sideline and criticise without knowing the effort involved to succeed. Mindset, knowledge and execution is key in my mind.
I frankly find this disgusting that one person deems it moral or necessary to accumulate this many properties. And for a generation that frowns upon 'Boomers' labelling the greedy amongst a whole host of other derogatory labels, how bloody hypocritical.
I doubt he has time to label Boomers greedy or spare a thought for them, with how busy he would be running multiple businesses and a massive investment portfolio. Some Boomers rightfully deserve this label though lol
@@bobiscute5693 Never said they didn't however the M's and Y's are constantly labelling Boomers lately and they are no better than those they criticise. In fact, M's have been the greatest consumers in history and think nothing of polluting the planet. I watch every NY Day, Anzac Day, Australia Day, and Xmas Day as they leave beaches in Sydney covered in trash. My generation never did that, of that I can guarantee. And as for targeting Boomers for property prices, for just happening to be born a few decades earlier, M's have shown, given the opportunity, that they are more than happy to hop on the property gravy train and milk it for all its worth. And don't start me on their lusty greed for crypto
Hey mate, genuinely curious why you'd spend time watching a video like this if you don't agree with it? I don't like big game hunting so I don't watch videos on it, let alone waste my time telling them what I think about it. If you want to learn about property investing and detaching yourself from the need to work or rely on government financial help stick around we can totally help, if not we're probs not going to be a fun channel for you mate 🙂
@@pizzaandproperty1246 Well to begin chastising somebody for watching and commenting on your YT channel is rather odd, because the more comments and vies you receive the better. I suggest that you prepare your clientele for what is coming. The US 10 year yield is headed for 13% as early as 2027 as US government debt is set to hit $40 trillion by mid 27. The bond vigilantes are going to the US government and Federal Reserve out for a flogging for years of fiscal mismanagement and our mortgage rates are headed well into the teens. I'll leave it at that. Just remember this conversation when it all comes to pass. Cheers
The person commenting on it would have to watch it to work out they don’t agree with it 🎉 regarding earning enough money to not need to work, anyone that does this actually works out a whole host of other challenges called life 👊🏻 enjoy your time on this 🌎 regardless of your bank balance and you’ll be just fine!
A key factor often overlooked is that over 25% of new homes are being acquired by investors, rather than individuals seeking primary residences. Even if Baby Boomers decide to offload their properties or more housing stock enters the market, it won’t alleviate the underlying issue. Wealthy investors will continue to absorb the available inventory, which will keep home prices elevated.
There's also a lack of discussion about the role that major financial institutions-banks, private equity firms, and giants like BlackRock-played by purchasing properties post-2008, treating them as investment assets. It's impossible to fully understand the current housing crisis without acknowledging this trend. Additionally, larger luxury properties are inherently more profitable than smaller, more affordable homes, leading developers to prioritize luxury developments for higher returns.
They also play an important role buy offering more homes available to renters. Not everyone one wants to have the burden of a mortgage. In Melbourne now as investors exit the market from land tax, rents are rising and vacancy levels are very low.
Thank you Todd for sharing this interview. Michael has been down-to-earth in all the things he shared. Well done to the two of you!
Thanks Maria! glad you enjoyed it :)
Fantastic interview! there was so much knowledge shared. Thank you for sharing this insightful conversation!
Glad you enjoyed it mate!
Such a good episode! Thanks for having Michael on the show, very inspiring!
Glad you enjoyed it mate!
Before watching this, you would think that he was just a rich guy and just bought heaps of property, pull out the equity and service his property with his wage. But 24 minutes in, he is hard working, completely researched and all in in terms of focus and dedication and passion. This is why he is so successful.
what a great interview, and a great story. thanks so much. makes me feel like I'm not to late. I have just found your channel and will continue to watch.
Awesome to hear mate! and 100% never to late I started investing properly in my early 30's left my job 6 years later. keep smashing it bro you'll get there :)
Definitely changed landscape in the property space. The barriers to entry is much higher now.
What an inspiring story.. My son is 23 and is earning $60k from his full time job so he knew that he needed to earn more money if he wanted to get into investing so got a part time job, now earns $80k and is abt to purchase his second property. Videos like this really help so well done 👍
Thanks mate! Sounds like you're raising a pretty awesome young man!
How on earth is he purchasing properties on 80k
@@pragyanbimali66usually little to no equity over leveraging position with current interest rate. most new "investor" people with that income range who boast about rental properties are people who got lucky with market timing and able to roll in equity to more current market value homes sitting on little liquid and hoping tenants make next rent pay. if it works out, it will work out just fine. saw my military friend lose his shit when his decent house was sitting vacant with two mortgages burning money on interest than principal payment. I'd rather sit on 150k cash earning interest rsther than sitting on 150k equity accruing more interest than equity. make sure to study "bad" side of the what ifs and dont invest more than you can lose
Best Eps yet - thank you Michael and Todd
Thanks mate :) This was a fun one to make!
Glad you liked it!
Honestly a great conversation! Hopefully people will pick bits and pieces from the journey where it’s gonna connect to them!
✌️
Thanks bro! your spot on there's so many bits to take away from Michael the guys a weapon :)
Great interview one of my favourites
Thanks mate! Michaels got such an amazing story 🙂
Great episode Todd, thanks… Michael was a great guest and yes you are right, the average person would be sitting pretty with 1/4 of his portfolio. You’ve got a gun channel mate, the subs will come 👍🏻
Thanks bro :)
Nice video. Thanks a lot!👍👍
Thanks Amber :)
Great interview 👍
Awesome interview. Michael is such down to earth and humble guy. Learnt and got a lot out of this!
Thats awesome mate! Yeah he's got an insane amount of property investing knowledge
This video popped up in my recommendations. I am not into property investments, but this interview is pure gold. Excellent interviewer and interviewee. Great use of examples, and all the burning questions were asked. I might check out more of your other videos. Once again, this is the best interview I have seen about investing in Australian properties.
Glad you enjoyed it mate 😊
There is a guy from Mt Druitt (Sydney Australia) who grew up in a housing commission house with single mum family owns 200 properties and make net income of $500,000 per year.
This has been a brilliant episode! Thanks so much for the inspo and insight!
It’s very refreshing to listen to a successful property investor talk that is so easy to listen to and is so humble. Well done Michael, you deserve all your spoils. Rob
Wow! So great input
Thanks Michael for sharing
Big thanks Todd for capturing this
Glad you enjoyed it mate 😊
Thank you Todd and Michael for this awesome interview! Just a question for Michael, were your parents the owners of the IGA in Rooty Hill? I'm actually from Rooty Hill. I remember the couple who ran the store. Keep up the good content Todd. Love it!
Haha yes, they ran the store until 2015, I might have served you if you visited on a Sunday :)
haha small world
@@Michael_Xia I knew you looked familiar, you most probably did serve me. I loved coming there after school to buy snacks and lollies 😂. What a small world in deed. Congratulations on your journey!
1:08:00 It's very interesting to see how Michael took the builders approach to work XD 22:00
Best interview about property investment!
Thanks mate 🙌🏼
I can’t thank you both enough for this episode! I learned so much from listening to this!
Glad you enjoyed it mate! You’re welcome 😊
so many good points to take from this convo, subbed! ❤
Glad you enjoyed it! Thanks for the sub dude
Great interview. Thanks for sharing knowledge and wisdom about your journey Michael. Now I know what pizza to get for you when we talk. 😊
As bank shareholder i Love guys like this… all the risk and all the hard work and I reap the benefits
Haha more loans = more dividends for you 😜
Awesome sit down Todd and Michael. One thing, I would’ve loved to know is:
What Michael uses for record keeping for his portfolio? Is it spreadsheets or specialised software to help manage tenants, expenses, bookkeeping, capital improvements, depreciation, taxation and tracking purchase costs, yields, gains, losses etc.
Hey mate, thanks! I'd have to ask him to make sure but I think it's a industry grade property management software
Soo good podcast, Salute to Micheal Xia
Thanks mate glad you enjoyed it 🙌🏼
Great advice and real world examples. Thank you 🙏
great interview and insightful questions from the host. well done.
Thanks mate really glad you enjoyed it 🙂
Great interview, thanks:).Good on you Michael.
I wonder what the mortgage payments are per year if the rental income is 2 mil. Because 2 mil per year must surely be enough to buy a "great principal place of residence" by now
Great point! It comes down to how amazing the PPR you want to buy is, think Micheal’s goal keeps getting bigger and bigger as his portfolio grows
@@pizzaandproperty1246 Maybe:) but if that's the case (and I say this with no disrespect to Michael) then Michael has been infected with what is a classic definition of "Greed":) - ie "an insatiable desire to have more and more +bigger and bigger, etc. "
Very inspiring, I Live and grew up in Logan and kicking myself i didnt buy any property.
Awsome podcast, Michael very inspiring, Thanks
Thanks mate 🙂
but don't be to hard on yourself about logan, there's be another market that does the same thing, keep looking forward bro!
Super golden. Thanks for this content. New sub
So who was his mentor ( mortgage broker) ?
Rolf ……..??? Anybody ? 44:00 minute
Rolf Latham was my broker and mentor
thanks for the reply, @@mortgagechannel936
My mentor is daddy
We have a household income circa 150k with 1.15 debt when do you think we will hit out ceiling for lending.
Hey Jose, probably wouldn't tackle answering this in the comment section, but if you wanted to reach out to Micheal direct try his website below. I'm sure he'll be able to talk it through and help show you the options you'd have.
have a great day mate!
www.mortgagechannel.com.au/
These things can’t be replicated anymore. If you didn’t hop on 10- 20 years ago it’s impossible to do the exact same now without major funds from either parents or elsewhere.
I don’t understand this, how can you buy property after property when the bank needs to know you need to be able to service them, and even if you have a really good salary at the absolute most your servicing would run out after 3 at the max….
This is a great questions mate, one not enough people are asking!
There's a massive difference between buying a few properties and later releasing you're stuck ( which is unfortunately the mistake a lot of new investors fall into)
And putting together a plan that maximises efforts and chances of significant portfolio growth.
One of the best first steps you can take is making a time to sit down with a mortgage broker that's built there own portfolio past 5-6+ rentals ( DO NOT do this with a broker that has 0 or 1-2 properties ) and ask them to run growth scenarios of the kinds of rents, equity gains, income etc you'd need to produce to continue portfolio growth.
The more you grow as an investor the more complex it becomes but the above is a great place to start to give you a set of parameters to aim for in the kinds of properties you're looking for, and your own personal income goals.
fake income docs for sure
@@timetravela9578 yes agree that his lack of detail on this is troubling. How did he crack the borrowing ceiling? I ran into the same problems by prop 30. Did he set aside a portion of property to buy Reno and sell and use that trading income? Did he go low doc back then? No doc? Back then up to 2015 banks gave some brokers authority to write loans .. crazy … is that happened to him? Happened to me which was amazing. He needs to share about his credit conditions. Pre royal commission… and the leg up he had. He refers to the accountant letter’ method that siphons off trusts so they don’t form part of serviceability. Again no details but this is worth exploring for most listeners. Did he cross collateralise? Most don’t out of fear of legal issues yet there is. A way to do it safely. Did he substitute securities with term deposits , other securities., if so how , and explain how this allows one to break the borrowing limit. Come on mate get real with listeners and share your borrowing limits journey
Sadly No details on funding which defeats the point of such an interview and listeners like you are just as confused
Excellent interview. I would love to know post 15 property’s what enable Michael to push to 62 property’s in such a short time. Whether he invested in apartment buildings ie. own developments.
Great question, a lot came from increasing cashflow and adding value to properties. As well as introducing different forms of borrowing like commercial loans.
I ove that he talls so honestly about income as a major factor in choosing his properties so he can buy and not be tapped out by the bank
Yeah he’s a fair open book in the chat, so much to learn from Michael
@pizzaandproperty1246 seriously, the interviews I have seen there is far more emphasis on, property went up, and little on, that's nice, but can I even afford to refinance and pull that equity out. I feel only half the equation is discussed in great depth .
love your interviews, they are refreshing to see..
How does he get to 62 properties in such a short time? Has he moved into property development and built townhouses or small complexes of units? Havent had the time yet to watch the entire video tonight but just pondering..
Best to watch the video will be able to explain way better than me trying to in a short comment 🙂
If everyone did this what would become of australia?
Everyone will not do what he does bro, you can rest easy 🙂
@@pizzaandproperty1246 man everyone in this world is listening to thisninspiration shit online none of this was around 10 years ago.
We are not in a better position now in society as to what we were back then is all.im getting to.
Wealthier perhaps but not the solution.
What’s the solution?
@@pizzaandproperty1246 buy 1 property live in it and enjoy your life. Be happy with what you have.
If that works for you that’s awesome bro 😊 I’d rather create more and have options in life
I wonder how much is the monthly loans payment to the bank?!
In property Investment, the one who pays the monthly loan is the tenants and the property itself. You pay none or little… how ? so avoid Sydney such as Eastern suburbs or you will be out of your pockets…
Inspirational.
He really has an amazing story 😊
this was amazing
Gold just gold both powerful people with such humility.
Thanks mate 😊🙌🏼😊
is that 42k a week after or before expenses???
That's $42 per week before expenses, cashflow is still pretty solid after but that's Michaels details to share if he wants to 🙂 Hope you enjoyed the ep mate!
@@pizzaandproperty1246 How can I ask if Michael would care to share that info? Just interested to know what's left after expenses roughly as it seems like a huge risk to take and lots of properties to manage of the chuck left behind isn't more significant than the work required. Just curious to know realistically how much passive income a year a most accomplished property investor could make?
Great question, love that you’re thinking deeper about this mate! Michaels website should be in the show notes to contact him but I’ll leave a link in this comment if you want to reach out to him
www.mortgagechannel.com.au/about
I'm 28, and on about ≈80k salary. This is inspiring!
That's awesome mate! you've got a lot of time to build an amazing portfolio 🙂
Slight edge was my first book
Great story and interview. Real down to earth and not sugar coated. I’m wondering who do you need in your team for your first purchase? Is it worthwhile to just use a buyers agent and a broker while you learn the ropes?
I was thinking to myself I’ve seen this guy somewhere. Michael from Reeftopia??
$42k weekly rent sounds insane great, just curious how much on mortgage repayment and other expenses per week ?
Great question, not sure on the exact amounts but I believe Michael’s positively geared by a pretty comfortable amount
He owns Jack bank owns all the properties leveraged . 😂😂😂😂
Great guest and listen 👍
Thanks mate 🙌🏼
@@pizzaandproperty1246 wished I found this channel earlier, subbed thanks and keep up the great interviews 👍
We wished we’d been making move videos like this earlier haha happy investing mate 😊
While he was doing these, I was working really hard at the university, did my bachelor, msc, and phd all with top results.. and here I am with a salary of 120k and a family.. could not afford to rent a decent place..😢 i will make sure my kids do not follow me..
Honestly makes me sad to hear someone obviously as hard working and smart as you must be not enjoy the fruits of their labour. Never to late to change course investing wise did you want to start building a property portfolio?
Different type of education
Hi, just wanted to say having a family is a massive achievement! It’s a huge responsibility and they are the next generation. Enjoy the moment mate. Life is tough, I am in similar boat and at times May seems like there’s no light 💡 at the end of the tunnel But keep going 👍 keep learning to improve financial future!!!
😅😅 you're not that bright if you did all that for a 120k salary.
@@dnajournal4321 civil engineers doesn’t get much actually..not enough money in research career and industry doesn't really need phd..as I said not a good choice I have made.
If one wants to get started and enter the market but income is a bit low, what would you suggest?
I'm half way through the video, I hope there will be discussions about how is he going to service the costs of 62 properties with endless bills of council rates, strata fees, maintenance cost (you only need one broken AC or oven or hot water system, it'll cost you thousands)
Hey mate, have you finished watching and found your answer? or you still wondering how his contingency funds works?
@@pizzaandproperty1246 I don't think he mentioned any of that, except he said he owns a business now, guess that's how he services the expenses of 62 properties.
@@JayZ-cx6pxin addition to their mortgage brokerage business they also have a property management company. That looks after their entire investment portfolio. I doubt they would have trouble covering these little expenses, at their level of wealth.
@@bobiscute5693 true, still that would be useful and helpful for anyone who has started the journey to have some insight of how to cover those relatively large expenses, especially during cost of living crisis atm.
Hey Jay, I understand your question better now mate, a lot of investors will put away a maintenance fund of around $40 per week for things like this.
Personally this is what I do for each property in addition we have a small slush fund of about $5k for each rental we own, some years this $40 x 52 = $2,080 is spent on maintenance sometimes it's not and goes into the slush fund to keep building.
it doesn't change much at this level as long as each property has buffers in place the buffers simply grow as the portfolio does.
Hope that helps mate 🙂
46yo and getting into this property investment idea just now. When talking growth potential, what do you reference when deciding/guessing the potential? For example, I look at industry/employment in the area and surrounds as well as ease of transportation. Is this an accurate way of researching? 46yo and getting into this property investment idea just now.
62 properties to 1 person! Its makes me think about future generations chance of owning at least 1 property
That's really not how this works but sure
@@pizzaandproperty1246 i get it..a success story...etc...but it made me think how many others are like him?? Multiple properties 1-10.. sure...but anything over say 50 to 1 person, its crazy but good on him...
Yeah I hear what you're saying mate but who draws that line though?
Some might say 3 is to many.
Really if one person owns 50 or 10 people own 5 each it doesn't change prices.
If you really want to look at a sector that will have the size to move the price of the markets and keep people renting look into how the BTR space it's going to begin taking hold in Aus over the next 10 years when gant super funds start buying up big chunks of the Resi space.
@@pizzaandproperty1246bloody oath!
Let's be honest investors drive prices up does not matter if it is in property or stock markets with out investors prices would not move this much that's the reality of it. There is a smart reason why he buys in one location always he gets in cheap buys up alot of the area and I'm guessing the investors he brokers for he also tells them to buy in these areas which naturally pushes prices up there is nothing wrong with what he has done and his created a wealth for him self and his family which is what most of us are trying to do
Woo, fellow coffs resident. I can absolutely agree that the housing prices here are crazy!
The biggest hole in all of Australia.
I love how you said I feel like we should put an affiliate link. By the time you said that, I have already bought it. LMAO😂
Haha yeah was a bit late for that 😂
Good for you as long as your happy 😃 life’s to short I own 1 property now and millions in dividends stocks and will never spend all my cash before I die 🤔🤔😃😃😉😉😉😉💰💰
sounds like you're in a great position to make some change to a cause close to your heart bro :) awesome work
didn't watch the whole thing so just curious if he's debt free atm or if not then how much debt he's in.
I understand equity and rental yield, i just don’t understand how to service loans on like 4 houses, are all his tent more than the loans?
Its much rarer nowadays to get positive cash flow investments.
Would appreciate peoples advice/experience
Lol finally realised this is the Scoly Guy! Reefing represent!
relateable, from another selective school kid struggling with uni :')
Awesome! Hope you’re gearing up for a solid property investment journey 😊
Hopefully he’s putting the income to good use and helping others!
No I think he spends it all on single use hats
@@pizzaandproperty1246😂
Private schools and universities people got scammed so bad,
Thank god I never went and just saved money and invested in property
Your mentality is an indictment upon society.
Problem is now if you buy investment and loan it all out pretty much with interest rates you wont be net positive at all. Mortgages in aus repayments are almost 2 times what you can get in rent lol
That’s sorta right, your thinking about yield at purchase, building a larger portfolio takes into account more future planning and looking into future cashflow.
Not a single mention of capital gains tax and other costs such as rates and land tax.
Fair point mate, the episode was already almost 2 hours if every single detail was outlined we’d still be watching it haha
But if you’re wanting a better outline of CGT check out this ep should help a lot bro 😊
th-cam.com/video/byIEcQtwyIw/w-d-xo.htmlsi=tXm4XZS_Y7ZP6-Xg
He's too vague. Should have gone into details about how he leveraged equity in the first few properties to purchase the next ones.
Hey Scott, I thought he did answer that talking about the growth they had and the value ads he did to be able to pull equity out, or are you referring to the detail of a step by step how to pull equity?
James Ruse is NOT a private school 7:00
It's actually a public school, but only for the best of the best
I would like to know that Builder name and contact please. what a gem. Did u reward him further ?
Can I contact Michael and help me grow and structure my portfolio? I have 2 properties at the moment but want to add more
Yeah 100% mate his details should all be in the show notes 🙌🏼
Happy investing mate!
I didn’t think James Ruse is a private school. This guy is super intelligent just to have gotten in to this selective school.
I’m not sure why anyone is focused on the school he went to, 62 rentals $42k per week rent is the episode focus haha I can make an episode opening up more details of his school if everyone would like but I feel it really misses the point of what Michael’s achieved
incredible
Yeah it's a be amazing what Michaels achieved!
All the advise he is giving you , you can ask your grandpa basically work hard - spend less than you earn - invest the difference into property
True, but are you doing it?
This won’t go down well when interest rates hit the historic above 10%
Are you paying your land tax? How come you don't talk about land tax of 1.6% of land value above threshold in NSW.
They don’t like to disappoint their audience with some truth
Great question, his land tax is minimised but there would be a portion paid depending on the state and how its assessed. The real reason we didn't talk about it is simply because we had to draw the line somewhere otherwise this could turn into a 10 hour chat with Micheal 🙂
Were you after some content explaining more of the details on how land tax works?
thanks for contributing to the housing shortage
Any time!
If anything, these investors are increasing rental supply which is very much needed in the current low vacancy environment
Incredible!!! He borrowed money to buy 60 houses at 1%, I wonder what will happen when the rates go up?
Hey Detective David, you’ve got your facts mixed up there mate, if you watch the video it’s actually really helpful for anyone wanting to learn how to scale a portfolio to large level in Australia. Happy investing mate 👍🏼
62 properties how on earth is that even possible
Yeah seems insane haha did you still have more questions after watching it all?
@@pizzaandproperty1246 would you consider my 1st property a success
I bought a 1 bed unit in Homebush west for 420 in 2020, it’s now worth 480 with 570 rental
Doesn’t mater what I think, if it’s done what you want it to do as an investment it’s a win! Don’t let a choice that might not have been the best ever stop you from moving forward making better decisions 😊
Mindset quote - Easy to do easy not to do is a Jim Rohn quote - Tony Robbin’s worked for him in the early days.
@@pizzaandproperty1246 it allowed me to purchase another property, so I think it’s a win, although I’m learning that property also comes with costs, maintence, tenant complaints etc
How much debt is this guy in?
A lot more than most Aussies but he’s also got a ton more equity too!
Something doesn’t add up..what builder works for a year with no income!how’s the builder & other workers surviving?
Do you think a bank will let you pay your debt a year later or a year of shopping for a year? Cmon man..way more to the story than mentioned!
There possibly is mate, but I’m pretty sure Micheal said the guy was older didn’t really need the money and took a shine to a young man giving it a go
100% it’s not a normal thing, I’ve never had a builder offer that to me but I’ve now interviews 100’s of people that each have at least one part of their story that’s an extremely lucky 1%
Aim of the story
Rent where you want to live
Get investments, pay interest only. Rely on capital gain.
Withdraw equity to go again
Get 62 property and still not have a home to live in
People complain this guy is a problem, no he’s not.
Buy an investment property and you can borrow more, due to the addition income mostly.
First home buyers, buy an investment. Borrow more, get in the market. Sell for capital gain and buy your PPOR.
If that’s what you take from it and it helps you get to 62 rentals than sure 🙌🏼
10% cash rate would fix this mess in 6 months. #raisetheinterestrates #rba
So would a 20% cash rate, while we're at it why not 30% lets really make the change you're going for happen mate #I'mgladyou'renotincharge
Never say never. Only say how can I do it.
Made me doubt his credentials when he said one of his “best performing properties “ is a Macquarie park unit , 3 blooming flight walk up. Cost $400k.
Lets say it’s worth 800k today (which is what best ones go for near Waterloo rd). If that’s one of your best in a 62 property portfolio then you are naive or don’t know property.
Cap growth Adelaide, brisbane tas in that same period (assuming he bought mac park 20 years ago) is around 500 to 600 per cent!!!
This is marketing, personal branding. Don’t take it too serious. Learn whatever you can here or treat it as just a bed time story.
Hey mate, it has more to do with the land content share of the complex and the deal that's being negotiated with a developer to buy it and another plot, adding substantially more value to his unit. Otherwise good spot in the details bro sounds like you've got a good handle on a few markets :)
He said he is joining the other owners of the complex to sell to a developer for about $1.5-1.6M - that’s 400% growth in 14 years - that’s a great return on capital alone without factoring yield. I’d be extremely happy if my portfolio was perdoar that level
You missed the part where he said the unit is now worth $1.5m to $1.6m as all lot/unit owners have combined to propose to sell all at once to a developer. If it’s a unit block, will the developer then demolish the entire block or renovate?
Surviveship bias…BHP gave 900% increase in 20 years
I get people buying a handful of properties to set themselves up for retirement and the argument of adding to rental supply but this is an example of pure excess and greed. He has bought up massively in areas with affordable housing which really does take away from people on middle to lower incomes from owning their own home.
Cue some condescending comment from the host to justify his strategy 😂
"62 Rental Portfolio" LMAS ????!!!! NO REPLIES READ.
cool story bro
Wasn’t a private school, was a selective school for smart kids. Gosh.
So fkn what ??
Pay 40% tax on rental income.
Not sure it's that straightforward, best speak to your accountant but here's a pretty helpful link below mate 👍🏼
www.infochoice.com.au/home-loans/rental-income-tax
@@pizzaandproperty1246I really wonder, once you own this many properties, which structure is best to own it under? Surely all 62 properties have not been purchased personally?
Not if he has purchased using other tax structures. In super for eg, income is only taxed at 15%. Company tax, 30%.
i can't afford to buy property cause of people like Xia who hoard property and over inflate rental prices. Was born in 2004 only just graduated 2 years ago and the market is now to expensive to enter cause of property investors and government
The systems definitely not 100% fair, if you want to learn more about property investing, how it really works and can make you’re life more financial secure there’s a ton of free content here that can help
The blame game won’t make you happy bro but taking action for yourself will 😊
Check out Harley’s story
th-cam.com/video/SKvRDXZay0M/w-d-xo.htmlsi=kKXMmOx_RMnZCGYI
In australia property investment cases like these have only grown the problem of wealth inequality. Michael Xia is part of the problem.
incorrect, but I hope you find what you're looking for mate :)
@user-zq2yu4iw2h Mate you realise he's actually "helping" the Government to provide Rental Accommodation to the general public? In fact he's doing an even bigger favour to the public than most investors as he's taking on alot more risk to provide the general public with rental accommodation. Without property investors where do you think Rental properties come from??
This kind of mentality is part of the "problem"
So who pay for thr developments
@@13579john First time buyers...
Rich kids success story😂
Sounds like you listened well
What is the debt 😂😂😂
Lots, but tons of equity too
Step 1: Be born into a family with parents that have money to invest.
Step 2 disregard step 1 and actually watch the video haha he certainly wasn't a silver spoon baby
Owning 62 rental properties is complete greed. You are part of the problem. This just makes the market even more scarce and makes it harder for everyone else to afford a property. People like this should not be praised or worshiped in any way
Sorry but this is part of the problem not the solution
No need to apologise, if you’re keen on learning more about adding more rental stock to the market and how normal Aussie are creating stable financial futures for themselves we’ve got a lot of content that can help you out 😊
It’s not the problem. Lack of new stock is the problem. We’ve been slack in getting properties built for years and it’s caught up to us.
@@JustinCryemate, the TAFE is there for you to learn a trade, or even be an apprentice and earn an income while learning so you can be part of that building as you say. Be proactive, start doing something, learn how to manage your finances, spend less than you make, leave within your means.
Tell me what you want to sacrifice in
order to achieve your financial goals and freedom. Because it’s not easy mate, but it’s doable and it takes time.
Good luck
@@PeonyandRoses yup, all true. But for myself I’m not worried as I’m already well established in the market. I’m worried about the next gen coming through. And while having a bigger talent pool of builders to hopefully lower the price of a build, it still doesn’t fix the problem of having prices set too high because of lack of stock. So to be clear, I agree that getting young people into tafe and active in this sector is essential. Unfortunately it’s only one cog in the machine and until immigration is handled, prices will remain high and out of reach of many Australians.
@@JustinCrye what I don’t understand is, why so many Australians are against immigrants?
We are such a huge country and not even 30 million population, when the ageing people number is increasing exponentially. Aussie women more and more adopt “child free” approach, or best case scenario give birth to first child in late 30th. Demographic statistics are catastrophic. Whose going to look after all this ageing people in terms of medical care support etcetera?
Where are we going to get the work force from?
We need to build more houses but we simply don’t have the skilled workforce to do so.
So , yes we need more immigrants in Australia. We can’t survive without them.
He owns nothing everything is owned buy the bank 😂😂😂😂
yeah not quite bro
@ how much is owned buy the bank ?
Micheal doesn’t talk publicly about his LVR, I respect him even sharing his story at all. While there’s obviously a lot of debt it’s not as much as you’d think.
Instead of making assumptions on parts of this episode that don’t help you, take time to learn how his failures and his wins can be learnt from to help you on your own investing path 😊
Happy investing mate 🙌🏼
@@pizzaandproperty1246 🤣🤣🤣🤣
@@pizzaandproperty1246 bs it’s all debt if he has nothing to hide why not be transparent. Because he is all owned buy the bank .maybe he owns 60 to70 percent the rest owns buy the bank 🤭
Greedy people like him is why some of us can’t buy first home 😢
Incorrect
Mindset is your problem- blame excuses denial. Just start.
Don't hate the player, hate the game. But why not play the game? Not everyone can do it and execute. Heaps of effort, negotiating, work, research, knowledge, finance, educated choices. Most watch on the sideline and criticise without knowing the effort involved to succeed. Mindset, knowledge and execution is key in my mind.
@@sjpithers183 how about i hate the player and the game.
I frankly find this disgusting that one person deems it moral or necessary to accumulate this many properties. And for a generation that frowns upon 'Boomers' labelling the greedy amongst a whole host of other derogatory labels, how bloody hypocritical.
I doubt he has time to label Boomers greedy or spare a thought for them, with how busy he would be running multiple businesses and a massive investment portfolio.
Some Boomers rightfully deserve this label though lol
@@bobiscute5693 Never said they didn't however the M's and Y's are constantly labelling Boomers lately and they are no better than those they criticise.
In fact, M's have been the greatest consumers in history and think nothing of polluting the planet.
I watch every NY Day, Anzac Day, Australia Day, and Xmas Day as they leave beaches in Sydney covered in trash.
My generation never did that, of that I can guarantee.
And as for targeting Boomers for property prices, for just happening to be born a few decades earlier, M's have shown, given the opportunity, that they are more than happy to hop on the property gravy train and milk it for all its worth.
And don't start me on their lusty greed for crypto
Hey mate, genuinely curious why you'd spend time watching a video like this if you don't agree with it?
I don't like big game hunting so I don't watch videos on it, let alone waste my time telling them what I think about it.
If you want to learn about property investing and detaching yourself from the need to work or rely on government financial help stick around we can totally help, if not we're probs not going to be a fun channel for you mate 🙂
@@pizzaandproperty1246 Well to begin chastising somebody for watching and commenting on your YT channel is rather odd, because the more comments and vies you receive the better.
I suggest that you prepare your clientele for what is coming.
The US 10 year yield is headed for 13% as early as 2027 as US government debt is set to hit $40 trillion by mid 27.
The bond vigilantes are going to the US government and Federal Reserve out for a flogging for years of fiscal mismanagement and our mortgage rates are headed well into the teens.
I'll leave it at that. Just remember this conversation when it all comes to pass.
Cheers
The person commenting on it would have to watch it to work out they don’t agree with it 🎉 regarding earning enough money to not need to work, anyone that does this actually works out a whole host of other challenges called life 👊🏻 enjoy your time on this 🌎 regardless of your bank balance and you’ll be just fine!