When he bought his first investment property, Joey D’Agata was too nervous to do his own bidding. But, flash forward four years, and he’s now self-built a high-income producing portfolio consisting of SIX properties. And, even more impressive… he’s only 26!!
So folks… how on earth did Joey make this happen for himself? Especially considering the fact that when he first started saving, he was earning less than $50,000 a year and was seriously concerned that someone in their twenties wouldn’t be able to afford to buy a SINGLE property, let alone go ahead and invest in six of them.
So, the multi-million dollar question is… how’d he do it?
Well, this is where the $4,000 comes in…..
… Keep in mind, there’s a bit more of a back story here, which we’re unpacking in this episode, but here’s the quick overview: Joey “embraced” Lenders Mortgage Insurance (LMI).
Now, when it comes to Lenders Mortgage Insurance, we always say… “Avoid it when you can, but embrace it when you have to.”
Why??? … well, that $4,000 cost went on to put Joey in a position where he could buy another FIVE properties.
Your Free Resources
- FREE BOOK (Physical copy) – The Armchair Guide to Property Investing
- FREE BOOK (PDF version) – Make Money Simple Again
- Episode 242 | Proof That You Can Get on the Property Ladder AND Invest in Property in Your 20s – Chat with Courtney Te’ray
- Episode 097 | Q&A – Mechanics of LMI, Purchasing Foreclosed Property, Stretching Your Investing Budget and more
- TPC Binge Guide – The Best Bits From The First Twenty Episodes
Today’s “Lecture Notes”
- Why Exactly Was This The Best $4,000 Joey Ever Spent?
- How Have His Peers Taught Him About His Tenants?
- What Was The Very First Thing He Went And Did After Listening To The Property Couch?
- Alright, So Let’s Hear About All The Properties…
- What Is The Global Loan-To-Value Ratio (LVR) For All Of His Properties — ie. What Kind of Debt are We Looking at Here?
- What are The Considerations of Investing in AirBnb?
- When Do You Balance Out A Loss in A Property Portfolio With Higher Yield Properties?
- Progress in Joey’s Mindset: What Does a Winning Mindset Look like as a Property Investor?