The Property Couch 264 | How $4,000 Turned into Six Properties - Chat with Joey
When he bought his first investment property, Joey D’Agata was too nervous to do his own bidding. But, flash forward four years, and he’s now self-built a high-income producing portfolio consisting of SIX properties. And, even more impressive… he’s only 26!!
So folks… how on earth did Joey make this happen for himself? Especially considering the fact that when he first started saving, he was earning less than $50,000 a year and was seriously concerned that someone in their twenties wouldn’t be able to afford to buy a SINGLE property, let alone go ahead and invest in six of them.
So, the multi-million dollar question is… how’d he do it?
Well, this is where the $4,000 comes in…..
… Keep in mind, there’s a bit more of a back story here, which we’re unpacking in this episode, but here’s the quick overview: Joey “embraced” Lenders Mortgage Insurance (LMI).
Now, when it comes to Lenders Mortgage Insurance, we always say… “Avoid it when you can, but embrace it when you have to.”
Why??? … well, that $4,000 cost went on to put Joey in a position where he could buy another FIVE properties.
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