How I Turned $1,000 into a Million Dollars in Real Estate ...

Tom:

My post was written as a response - an answer - to a question which was asked. Everything in it must be read with that context in mind. Okay?

Now let me address some of your points...

70% real estate ownership in Australia...

First, this number is actually a number which combines those who OWN with those who are PAYING OFF. It has been this way for something like 50 years.

Please don't confuse this - owning or paying off a house - with investing in real estate to make money. 70% of the people in Australia do not own investment property. If 30% of the people rent, and something like 90% of people with investment proprety only own one investment property, you cannot come up with 70% of the people owning investment property.

If we accept your number that 40% own shares... and shares are viewed as investment (after all, you cannot live in shares), then percentage wise, more people own shares as investments than own property as investments.

As for the other items... again. My post is to be read in the context of it answering a question.

Landlord vs Stock Investor could be a reason. Is it? Who knows? I'm sure there is someone somewhere who feels that way.

Fixing toilets. I was refering to the statement made by the likes of Robert Kiyosaki who say people tell him they don't want to invest in real estate because they don't like fixing toilets, and Robert tells them he doesn't either so hires a property manager. Again. You need to read my post within the context it was written.

My mention of the Creative RE techniques finished with instant gratification. Not instant wealth. There is a difference. Bank red tape and all those other things delay gratification.

Some banks may lend 100% of the value of the property when you play funny games with the sales prices and the like... but only the stock market allows you to invest ten times the amount of money you have. - Which means a loss will see you totally in the hole.

"Real Estate has always been the easiest way for the average person to create substantial wealth"

Agreed!

Michael Ross

P.S. Where abouts in Sydney are you based?