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;
- The first 10 years you tend to lean what not to do as you try out a number of systems, strategies;
- The you have to build a substantial asset base and next;
- 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.
Subscribe & don’t miss a single episode of michael yardney’s podcast
Hear Michael & a select panel of guest experts discuss property investment, success & money related topics. Subscribe now, whether you're on an Apple or Android handset.
Need help listening to michael yardney’s podcast from your phone or tablet?
We have created easy to follow instructions for you whether you're on iPhone / iPad or an Android device.
Prefer to subscribe via email?
Join Michael Yardney's inner circle of daily subscribers and get into the head of Australia's best property investment advisor and a wide team of leading property researchers and commentators.
'How long will it take me to become financially independent through property? | Common Investor Mistakes [Video]' have 2 comments
August 22, 2018 Alex
Hi Michael, if an investor has built a portfolio of 7 properties in 7 years, does it not mean that he/she has found their own path to financial independence? And vice versa, if they get stuck with one property after the full property cycle (7-10 years), or even worse – had to sell, then they’re failing.
August 22, 2018 Michael Yardney
Alex
I’ve seen investors with 7, 10 and even 12 dud properties, and they are on the wrong path – so the number of properties owned doesn’t get automatically get you to financial freedom.
As for the investor who’s made a mistake – I’m a real success at failure. I’ve failed so often that I’ve eventually become successful