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ASK261: Should we remortgage our home to raise investment funds?


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Hi All,

Just wanted to say a huge WELL DONE to Rob & Rob for their response to Jason in Ask 261. Having seen at first hand the number of 'Woo-woo, let's all get rich in under one year, guaranteed cash in property'-style property training courses there are out there, it's so refreshing to have heard Rob Dix say that 20 properties in 6 years is a hell of a stretch for a beginner and that maybe 20 properties in 20 years should be seen as a demanding goal. 

As most of us on this forum will know, starting out in property investing is hard graft, resource intensive and takes years. By far the majority of property educators would have you believe that you're a failure if you've not got a multi-property portfolio in the first 18 months. Such over-blown expectations are the main reason for so many would-be investors giving up after a short period of time. With sage advice and sound management of expectations, so many more potential investors can achieve success.

Thank you so much Rob & Rob for being a beacon of sanity in the ocean of snake-oil salesmen that is the property investing world. I have a colleague who's just starting out in investing and I shall be forwarding him the link to this episode to demonstrate to him that I'm not just being a harbinger of doom when I tell him that this is going to be a slow, yet rewarding, process that will take many years. I could go on in my praise for your dedication, honesty, generosity etc., but I don't wish to embarrass you. In short, please keep up the good work!

Regards,

Chris

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Here here!

 

I don't understand how half of these people saying they've got 10 in 1 year or whatever even do it. Mortgage lenders require lengths of period in order to become a 'portfolio landlord'.

 

Nice to see some realism for a change!

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