Do You Need To Buy 10 Properties In 10 Years?
b'ARVE Error: Mode: lazyload not available (ARVE Pro not active?), switching to normal mode\\n\\n\\n\\n\\n\\n\\n\\n\\n{"@context":"http:\\\\/\\\\/schema.org\\\\/","@id":"https:\\\\/\\\\/onproperty.com.au\\\\/do-you-need-to-buy-10-properties-in-10-years\\\\/#arve-youtube-dkqcthkyum4659a0b2e7caa8327560955","type":"VideoObject","embedURL":"https:\\\\/\\\\/www.youtube-nocookie.com\\\\/embed\\\\/DKQcTHKyum4?feature=oembed&iv_load_policy=3&modestbranding=1&rel=0&autohide=1&playsinline=0&autoplay=0"}\\n\\n\\n\\nA lot of people have the goal of 10 properties in 10 years. But will this goal actually help you achieve what you want?\\n\\nDo you need to buy 10 properties in 10 years? A lot of people out there have this goal of buying 10 properties in 10 years or they encourage people to have this goal of purchasing 10 properties in 10 years. Today, I want to ask the question, do you actually need to buy 10 properties and do you need to buy them in 10 years? So, let\'s have a look at that. Let\'s try and break it down and see do we actually need this to achieve what we want in our life?\\n\\nThis is kind of carrying over from the last rant I did which is onproperty.com.au/345 where I talked about some alternative ways to think about financial freedom. And a lot of people think about financial freedom in terms of how much money they want to make, the lavish lifestyle that they want to have. However, if we can fast forward it and imagine ourselves as 80, 90, 100 on our deathbed and try and think back to our lives and think about the things that were important and meaningful to us, often we find that the cars, the mansions, the lifestyle \\u2013 that\'s not what\'s important. It\'s the family, it\'s the community, it\'s the positive you had on people.\\n\\nWell, that\'s my story, anyway. Yours may be different. So, I wanted to analyze, do you need to buy 10 properties in 10 years? Because it\'s a goal that a lot of people have and, look, it\'s a great goal. But a lot of people just think, "Okay, I need to buy 10 properties in 10 years in order to achieve something." and often, they don\'t actually know what it is.\\n\\nWhat I would encourage you to do is actually go back, listen to onproperty.com.au/345 and listen to that episode there and try and work out, "Well, what do I actually need in order to be financially free and in order to at least get a base level of the life that I want?" Me and Ben Everingham, who\'s the buyer\'s agent from Pumped on Property, we talk about this often. We set goals for ourselves that are unachievable or we don\'t have goals. Often, the easiest thing to do is to just say, "What is the income that I\'m earning right now through my job and can I go about replacing that in terms of passive income?" and setting that as a goal. Because, at least then, when you reach that, you know you\'ve replaced your income.\\n\\nYou may not have the lavish lifestyle that you want, but at least you know that you\'re now financially free and if you lost your job today, you\'d be able to survive and you\'d be able to live a pretty decent lifestyle. That can be a good goal to start with if you don\'t have a goal or if your goal is too big. Maybe you want to start by looking at "Okay, well how can I replace my income through property investing first?" And then, once you\'ve replaced the income, you can then move forward from there and begin to grow your wealth.\\n\\nLet\'s look at how 10 properties in 10 years ties into this. Obviously, when we set a goal, ideally we want to have a timeframe on it and the earlier we achieve financial freedom, obviously, the better because it gives us more of our lives to enjoy. Buy why 10 properties? Why do we need 10 properties? Look, I don\'t know. 10 is a nice round number and so, I think 10 properties in 10 years sounds achievable and it helps sell product, so maybe that\'s why people have jumped on to this. But let\'s analyze it and look at how much income do we actually need to survive and how are we going to go about achieving that?\\n\\nThere was a story that I read in a real estate magazine y...'