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Canna Campbell

πŸ‘€ Speaker
1844 total appearances
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How Do They Afford That?
Property investing for passive income

It very quickly adds up.

How Do They Afford That?
Property investing for passive income

If you aren't getting the price that you want, perhaps you thought it was worth more than what you originally estimated, that can be a bit of a root shock.

How Do They Afford That?
Property investing for passive income

You've got to hold out for that price or

How Do They Afford That?
Property investing for passive income

may not even get it at all.

How Do They Afford That?
Property investing for passive income

And there's the holding costs, which we touched on already.

How Do They Afford That?
Property investing for passive income

There are a lot of risks.

How Do They Afford That?
Property investing for passive income

I could probably sit here all day talking about the risks and being in between tenants, the wear and tear alone, even the special strata levies.

How Do They Afford That?
Property investing for passive income

I think I've shared with you about what happened to Tom and I. I'm talking a significant six-figure

How Do They Afford That?
Property investing for passive income

And not a low six-figure.

How Do They Afford That?
Property investing for passive income

You'd kind of want to vomit.

How Do They Afford That?
Property investing for passive income

And it was exceptionally stressful.

How Do They Afford That?
Property investing for passive income

And it still is actually exceptionally stressful because the problems are still going.

How Do They Afford That?
Property investing for passive income

And the apartment was unlivable.

How Do They Afford That?
Property investing for passive income

It literally had to be deconstructed.

How Do They Afford That?
Property investing for passive income

As I've said, whenever I go for a walk around that area, there are so many apartment blocks going through now what we went through.

How Do They Afford That?
Property investing for passive income

Scaffolding all the way through, tenants, everyone's had to move out of the building.

How Do They Afford That?
Property investing for passive income

We saw what happened with that horrendous apartment block in Homebush.

How Do They Afford That?
Property investing for passive income

People can say, sell all the clothes.

How Do They Afford That?
Property investing for passive income

In fact, I remember someone saying to me, you should sell all the clothes off your back just to get into property.

How Do They Afford That?
Property investing for passive income

It's the only way you can make money.