Video: How long will it take to become financially independent through property

By

23/08/2018

The more you understand the most common mistakes that investors make, the better your likelihood of building lasting wealth.

In this series of short videos, I discuss the common mistakes I’ve seen investors make.

Today we discuss how long (and why) it takes a property investor to become financially independent.

You may not like the answer.

Watch as we explain:

•    It often takes 30 years to develop financial independence through property.
     o    The first 10 years you tend to lean what not to do as you try out a number of systems, strategies
     o    The you have to build a substantial asset base and next
     o    Lower your loan to value ratio
•    50% of those who buy an investment property sell up in the first five years
•    Sure you’ll get emails in your inbox telling you to go along to a seminar or watch a webinar where you can buy 7 properties in 7 minutes, or that you can buy property with no money down or buy a property with your lunch money
•    Property is not a get rich quick scheme, but people are in a hurry so many look for the next hot spot
•    Can shorten that 30 year time frame by getting a mentor

With thanks to Michael Yardney's PropertyUpdate.com.au

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