Do property investors need to know their number?

“My goal is always to get $500,000 a year passive income, which I’m nowhere near. So yeah, I’ve still got a long way to go. That’s my number,” Ms Tower said.

Host Phil Tarrant offered a slightly different sentiment, noting that as a property investor his number is constantly changing.

“I don’t actually have a number. Investors seem to associate a level of happiness with a level of income to promote happiness. But what makes people happy changes over time,” Mr Tarrant said.

“I don’t think, I don’t associate [money] so much with happiness. I was happy with a lot less than what I have now. It’s just the things that allow you to do day to day, which is fun,” Ms Tower said.

Ms Tower also shared with listeners her simple strategy to get a foothold on the property ladder while she was starting out her journey.

“I had a simple property investment strategy of if the rent covered the insurance, the rights and the mortgage, I was in. That was fine. That’s all I needed because I didn’t earn enough money to kind of support negative gearing,” Ms Tower said.

Share