Subscribe On Itunes
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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?
