This is an astonishing stat and there’s probably a few reasons why so many Australians start out with all the right intentions to build a property portfolio but get stuck in retirement with only one additional property asset.
Here are my thoughts on why this happens:
- The first property purchase is challenging and perceived as ‘difficult’ or ‘too much effort’ so one property was considered ‘enough’
- The first property was too negatively geared and sucked too much income to hold it for the long term so buying a second property was then out of the question
- The property was in the wrong location and didn’t get capital growth
- Life got too complicated and there were too many other things to think about than growing wealth for retirement
There’s probably a million reasons why people only ever buy one investment property. If you’re meaning to get around to buying another property make sure you’re getting property market updates and our legendary digital magazine for mobile by subscribing at www.apisolutions.com.au
We look forward to you joining us in the 0.06% of the property investor population who own 6 or more investment properties and will be enjoying a great retirement lifestyle.
CEO and Founder