Money Making Experiment - Property

Posted by Norm on September 10, 2008 5:22 PM

I thought it was about time I added to my list of Money Making Experiments my Property portfolio.

I started investing into property when I was just 21, however only recently have I actively seek to increase the number of properties in my portfolio. In the beginning I thought it was a burden and constantly worried about it. Also it didnt help when all my friends were telling me that I was crazy, you have a ball and chain and you won't get to travel. Well how wrong were they, I have traveled the world, I have traveled on 4 continents America, Europe, Asia and Australsia, because I learnt how to save money.

I currently own two properties in my home town of Brisbane (Living in Sydney, Australia). Owning property has given me more than profits, it has taught me how to save money, budget, management, negotiation skills and financial IQ.

Goal
Build a property portfolio to produce passive income of over 100K a year through rentals.

Short Term Goal

  • To acquire a 3rd Property in 2009.

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