How to Become a Millionaire in 5 Years (Realistic Formula)
ฝัง
- เผยแพร่เมื่อ 21 ก.ย. 2023
- Step-by-step guide to owning $1 Million in property in only 5 years. Have you ever wanted to have the ability to call yourself a millionaire? This guide is a realistic and achievable formula to earn this title through property investment in the current property market.
Videos mentioned:
3:07 - • How to Buy 10 Properti...
6:15 - • LVR IN DEPTH - Eddie D...
15:42 - • Dilleen Property Revie...
18:23 - • Brisbane Property Mark...
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Disclaimer: This is not intended as legal, financial, or investment advice and should not be construed or relied on as such. Before making any commitment of a legal or financial nature, you should seek advice from a qualified and registered legal practitioner or financial or investment adviser.
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Thanks Eddie for your present station, it answered all my questions, I got 3 Properties at WA, and I think I’ll buy more, thanks for your vedeo.
Great video Eddie , I love these types of vids
Amazing strategy and very useful. Very informative. I guess ,I will start following for direction .
Looks like everyone is trying to get into Perth currently. A look on real estate is 9/10 properties are under offer.
I understand the growth in the last 3 years has also been because of COVID-19 and many incentives banks and governments created, which I guess explains also why so much growth in the previous 3 years, but the next 5 may be different if you look at the global economy. Even that, better be in than out. 😅 Great video Eddie.
I agree with that strategy but when you add buyers agents fee it slows the timeline down a bit. But similar goals are definitely still achievable
easy, buy before crisis, sell after crisis and keep the cash positive ones permanently, made a networth of 2million after covid and only got 530k debt now
Thanks Eddie
Vinish baby .. how are u
Great video, thanks for sharing.
Great video, but I’m confused on the last bit, how do you take your 1mil of equity and use it to buy like a nice car or something, do you have to sell all the houses?
Love your work Eddie. Will chat in fue months 😊
Ready when you are!
what about the interest rates right now, and the capital growth on an inflated market? i want to buy now but they say next year or 2025 could be better as it's the worst bubble in history.
Can you do all of this on 75k a year
Do you buy them in trusts?
Why would you want to do that?
Eddie portfolio consists of buying in personal name, joint names, companies, trusts, SMSF, etc. However he stuck to personal/joint names for a while before diving into the other structures
@@eddiedilleen_ Why not keep them all in his own name?
because if you ever get sued the courts will make you sell them all to pay of the court case, its why many people do things in trusts or business names@@gothops2632
Unit and apartment are not making money, the price will drop in the future, as same as Sydney, people lost money un Sydney, as well as me
At the start where he said if you earn $90,000 you could have a $700,000 borrowing capacity?
My understanding, when building a portfolio is that you should start with a tier one lender before you use tier two or tier three lenders ?
Tier one Lenders have a debt to income ratio of 1:4.
How could you execute the above strategy if you were on a $90,000 income but can only borrow $360,000 ?
Thanks 🙏
You forgot to factor in the investment property’s income on top
I need you
When and how do you go about paying off the loans ?
The tenants and ATO pay off your loans for you….
Dont pay them off
The key is you don’t pay them off, save deposit for the next property
@@Paul_Middleton yeah but eventually you want to pay them off, you can’t just have a lot of debt forever
@@jesseturner1533 at some point you can consolidate your portfolio getting out of debt and keeping the best cashflowing properties to fund your lifestyle
What if your on 1.3M aged 58.Too old too late
Yep, you should've known better growing up in the prime time and you missed your opportunity. The next generation is completely screwed and have virtually no hope unless their inheritance comes in.
Epic buddy , I'll email you you've been emailing me , maybe it's time?
100% send us an email, would love to help!