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How long will it take to become financially independent through property

Video Transcription

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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