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  • How many properties does it take to retire comfortably?

    first_imgProperty investment expert and author, Margaret Lomas. Picture: Sam MooyWHEN it comes to real estate investors, those with multi-property portfolios aren’t that common, but it’s just as important to know when to stop as when to start. According to CoreLogic analysis of ATO and ABS data, just over two million Australians held an interest in an investment property in 2015.Of that two million, 71.6 per cent had just one property, while just 18 per cent held two.From there the numbers continued to drop dramatically to the point where investors with six or more totalled a minuscule 0.9 per cent of the investor population — or just over 19,000 people. Investing is a long-term strategy according to Ms LomasBut those 19,000 Australian are onto something according to Destiny founder, Margaret Lomas — as long as they know when to stop.According to Ms Lomas, a portfolio of seven properties is enough to provide a comfortable retirement.“It’s really a value more than a number, but because people like numbers, I always think seven is about it — but we’ve got to understand how that seven then rolls out over a lifetime,” Ms Lomas said.Ms Lomas said if you have the means to buy seven properties in one go, then good on you, but the vast majority of investors need long-term plans. Seven is the magic number.“If you’re like the normal, everyday person, you’re going to start with one and it’s going to take you a couple of years before you’re ready to buy a second,” Ms Lomas said.“They might reach the fourth year with three (properties) and then by the time they get to year five and six, they’re at that point where they probably can buy two at once, and they’ve got more of an appetite for risk,” she said.“To have a $100,000-a-year lifestyle, your need to have a clear (debt free) $2 million worth of property. If you’ve bought seven and you’ve given those 15 years (growth), there’s a chance you’re going to get there, but I don’t want people thinking they’re going to make millions and millions out of property very quickly, because it doesn’t happen that way,” she said.More from newsMould, age, not enough to stop 17 bidders fighting for this homeless than 1 hour agoBuyers ‘crazy’ not to take govt freebies, says 28-yr-old investorless than 1 hour agoRisk management is important.Ms Lomas said investors are sold the mindset to own more than this by ‘advisers’ with vested interests.“I blame the spruikers for that because obviously it’s in a spruiker’s best interest to have a client come on board and buy as many properties as they possibly can, and we all know a spruiker will make their money out of a property sale,” Ms Lomas said.“For every sale that goes through, they’re probably in for (commissions of) anything between $20,000 to $40,000, and the more they can get a particular client to buy, the more that client is worth to them over their lifetime,” she said. GROWTH OR CASH FLOW? Find growth-driver locations and then look for the right propertyMs Lomas said forget about the capital growth vs. cash flow debate when selecting an investment, because you can have both.She said look for areas with price-growth drivers like infrastructure development, increasing numbers of families, diversity of industry for jobs and limited development to keep supply down.“Your aim as an investor is to spot growth drivers. Once you’ve done that, you’ve got to find the kind of property in that area that’s going to appeal to both buyers and renters,” she said.Ms Lomas said over the long-term, the right properties will see good growth and achieve a comfortable five per cent yield to help service the debt. GOT THEM! NOW WHAT? What next? is often the question. Picture: AAP/Ashley FederMs Lomas said once you’ve acquired the investments, hold off on action for as long as possible.She said smart investors will even use their superannuation first in retirement so the portfolio has more time to rise in both rent and value.“When you get to the point where your superannuation is starting to wear a little thin, then your property should be good to go,” she said.Ms Lomas said, depending on circumstances, you can either live off your portfolio’s positive rental income, or choose to sell down some holdings to reduce the debt on others which boosts your total returns.“The longer you can keep them past that retirement phase and use other sources of income, the better because if you can even add five years to the 15 years you’ve already waited, that five years will make a big difference,” she said.Follow Kieran Clair on Twitter at @kieranclair or Facebook at Kieran Clair — journolast_img read more

  • Poe’s Perspective: Athletes deserve better support

    first_imgJulia Poe | Daily TrojanTragedy strikes in a unique way when it hits an athlete.I never saw Tyler Hilinski play a single game for Washington State. He was a bench player when USC traveled to Pullman for its stunning Week 5 loss, and I didn’t watch his valiant effort in the Cougars’ Holiday Bowl defeat to Michigan State.But when I heard the news of his death last week, I was almost moved to tears. The story was shocking — Hilinski, the starting quarterback for an up-and-coming D-I team, was found dead with a self-inflicted gunshot wound and a suicide note at his side.The news spread quickly with outpourings of support and grief coming from athletes, coaches and fans across the country. Hilinski was a year older than me, described as a supportive and affectionate leader on his team. Maybe it was the shock that struck me and many other football fans so deeply, the concept that an otherwise golden star could be so deeply and secretly troubled.But for me, the loss came with a sense of fear. Hilinski’s suicide was one in a line of similar cases in previous years. It came as a chilling reminder to those who love sports that despite our passion for the players who take the field for our teams, there is little-to-no support for these athletes when they step out of the weight room and lockers and into the rest of their lives.In their years as college athletes, these young men and women give everything to their schools. But often, their colleges are giving little in return in the way of mental health support.In the wake of another death, we must take time to grieve the loss of this young man. But the NCAA must also take this tragedy as a sign that things need to change — fast.The reason that fans fall in love with sports is often that it serves as a release, an escape from real life. For a couple hours, their attention and passion are diverted into something that really, truly doesn’t affect their lives. Win or lose, life will go on, but the game can often feel bigger than a mere game.Their team is the family they never had, a mascot and a uniform that never changes or leaves from year to year. (Unless, I guess, you’re a fan of the Rams, Chargers or Raiders. Sorry, guys.)And even when it might be nonexistent in other aspects of a sports fan’s life, when it comes to the game, there is regularity, rule and order. There is passion, loyalty and respect. Sports make sense when many other things don’t, and even when a referee makes a bad call or a team catches a bad break, there is comfort in the self-righteous grumbling of any fan who has been wronged.Fans and players alike experience this redemptive power of sport. Basketball probably saved my life when I was younger, one of the many reasons that it remains the most sacred sport, even as I attend a football school two time zones away from my beloved hometown team.When I was 16, there were a lot of things falling apart in my life — I was hiding my sexuality, I fought with my parents almost every day and I could barely keep up with school. The year I turned 16 was a year that I almost didn’t survive, and when I look back, I see now that somehow, a sport kept me going.There was a time when I dreamed of playing college ball, but by junior year of high school I was just playing to play. As a post who barely hit 5-foot-10 in my shoes, I wasn’t exactly a star, but I could rebound and defend well enough to play a decent role on my school team.To my team, I probably didn’t seem all that invested — I didn’t hang out with my teammates off the court, and I typically prioritized grades and the school newspaper ahead of practice. But at a time when it was an effort to wake up and go to school every morning, that game gave me something I desperately needed.Every day, basketball practice provided two hours during which I escaped everything else. For those hours, I didn’t have time to think about anything except how to front a girl four inches taller than me, or how to break a full-court press, or how to stop my lungs from aching at the end of sprint drills.Basketball was simple and beautiful to me. And it gave my family — which was struggling with the cliched turmoil of an only child coming of age and coming out — a shared love that overcame any of our other arguments. We talked about my team and our team, the University of Kansas Jayhawks, as much as we talked about anything that winter. It was an easy topic of conversation, something we often lacked at that time. In the process, basketball saved me and my family a little bit.I say this because I want to be clear — I don’t believe that sports, on their own, are to blame for tragedies such as the loss of Hilinski. But somehow, as we’ve built college and professional sports into goliath industries, we’ve come to ask more and more of these young athletes without asking what they need in return.Their workouts are harder, their regiments stricter, and the stakes seem almost unbelievably high for athletes who are bigger, stronger and faster than their predecessors. Yet despite these monumental expectations, very little attention is paid to the mental health of collegiate athletes.It almost seems illogical, especially to those of us who love these games so deeply. How can something that brings so much joy into so many lives also be the thing that ends many others? How can sport, which is supposed to be fun, which is supposed to raise young men and women to be better, stronger people, also be a force that breaks them down?ESPN writer Kate Fagan once wrote that becoming a college athlete is “like walking through an obstacle course wearing a blindfold.” Fagan became famous in the sportswriting world several years ago, when she told the story of Madison Holleran, a star runner and Ivy League student at the University of Pennsylvania who killed herself after years of hiding her battle with mental illness.At the time, Holleran’s death was a shock that sent waves of questions, doubt and concern throughout the country. How could this happen? But that shock soon faded as other issues took hold, and even the 2017 publication of Fagan’s book about Holleran’s life and death failed to revive the same level of discussion surrounding mental illness.But the discussion was revived after the loss of Hilinski, in part because the quarterback’s struggles remain such a mystery to his teammates and coaches. The morning of his death, Hilinski texted his teammates to set up a throwing session later that night. He seemed enthusiastic, said head coach Mike Leach. He was someone who “would lift up others that were down.” From the outside, Leach said, there was no sign that Hilinski was struggling at all.This would come as less of a shock if the NCAA had made a larger effort in supporting the emotional and mental health of athletes. But that’s not the case.In January 2014, less than 25 Division I schools staffed a full-time mental health practitioner in their athletic departments. That number has grown after the NCAA GOALS (Growth, Opportunities, Aspirations and Learning of Students in College) study and program in 2016, as well as a survey in the same year, found that 39 percent of Division I athletic departments now staff mental health clinicians.But that’s still fewer than 50 percent. This means that over 50 percent of student athletes do not have access to even one mental health resource for four of the most tumultuous and challenging years of their lives. And even at those schools where a clinician is staffed, how is one professional meant to provide support to hundreds of young athletes? At Washington State, only one counselor works with the athletes of 15 teams. There are more trainers on the sidelines of a football game than there are mental health professionals for the entire department.There is, of course, no way to completely protect young athletes from mental illness. But there is also no reason that the starting quarterback of a Division I football team should not have the resources or the support to tackle any issue regarding mental health. While the national family of football fans should look at this as a tragic loss, the NCAA should also see it as a catalyst for change.The NCAA must put its students first. This doesn’t mean just tossing money into a few studies, or creating a “task force” to meet at a conference once a year. If the NCAA is serious about supporting its athletes, it must implement policies that require resources to be available and encourages students to utilize them despite any previous stigma.For those of us who support young athletes on weekends, on the field and the track and the court, we must also call for change. These young athletes are students just like any of us. They’re young, overwhelmed and afraid of the future. Over the course of college, they’ll be put through a pressure cooker of emotions with little to no experience in how to handle themselves. It’s up to all of us to give these athletes our full support, on off days and in the offseason, not just from the stands.Julia Poe is a junior majoring in print and digital journalism. Her column, “Poe’s Perspective,” runs Tuesdays.last_img read more

  • Lakers trade D’Angelo Russell, Timofey Mozgov to Nets for Brook Lopez, 27th pick

    first_imgThe Lakers made two moves on Tuesday that strongly established the direction of their rebuilding project. They untethered themselves from of one of the team’s most expensive contracts, while dealing a young player who received mixed reviews about his development and maturity.Shortly after Lakers president of basketball operations Magic Johnson and General Manager Rob Pelinka began negotiating with the Indiana Pacers for forward Paul George, the Lakers traded third-year guard D’Angelo Russell and veteran center Timofey Mozgov to the Brooklyn Nets for center Brook Lopez and the 27th pick in Thursday’s NBA draft.The move gave the Lakers significant salary cap relief and enough room to sign two max-contract players in the 2018 offseason when George, LeBron James and Russell Westbrook might become available in free agency. While Mozgov had three years remaining on his $48 million contract, Russell had one more season on his rookie contract worth $5.5 million with a team option for $7 million the following season.Russell’s departure highlights the Lakers’ complicated feelings about his development after selecting him with the No. 2 pick in the 2015 draft. Newsroom GuidelinesNews TipsContact UsReport an Error AD Quality Auto 360p 720p 1080p Top articles1/5READ MOREUCLA alum Kenny Clark signs four-year contract extension with PackersOn one hand, Russell averaged 15.6 points, 4.8 assists, 3.5 rebounds and 1.4 steals per game, numbers that only Johnson matched as a Laker in his sophomore season. On the other hand, several people in the Lakers organization had become increasingly frustrated with the lack of substantial improvement in his attitude and work habits. On a more practical level, the Lakers dealt Russell, 21, partly to accommodate the strong likelihood they will draft UCLA point guard Lonzo Ball with the No. 2 pick in Thursday’s draft.Despite the Lakers’ mixed feelings about Russell, one of his former teammates offered public support. Lakers forward Larry Nance Jr. tweeted out a photo of him from last year’s Las Vegas Summer League when he mimicked Russell’s “ice-in-my-veins” gesture, pointing at the veins of his left forearm the way Russell would do after making a key shot.Mozgov, 30, provided modest production (7.4 points, 4.9 rebounds) before eventually losing his starting spot to rookie center Ivica Zubac last season. Lopez provided more significant contributions (20.5 points, 5.4 rebounds) for Brooklyn last season and enters this season with a less expensive price tag (his $22 million contract expires next summer). The Lakers view Lopez, 29, as a so-called “stretch-five” after he shot 34.6 percent from 3-point range (seventh best among NBA starting centers) on a league-leading 387 attempts among starting centers. The move also allows Zubac, 20, to grow without the pressure of being the team’s definitive starter.This might just mark the beginning of the Lakers’ offseason moves.The Pacers are “highly likely” to trade George before Thursday’s draft after his representatives informed them this week that he planned to become a free agent next season. The Lakers offered a combination that includes fourth-year forward Julius Randle, 22, or fourth-year guard Jordan Clarkson, 25, as well as the No. 27 and No. 28 picks, according to sources. On Tuesday evening, talks were at a standstill over the Pacers’ hope to extract more from the deal, sources said.center_img Though the Pacers might want more in a deal, the Lakers have gone into these conversations holding firm on two things. They want to keep their No. 2 pick and 19-year-old second-year forward Brandon Ingram, something they have reiterated while making and listening to trade proposals this spring. Although Ingram averaged 9.4 points on only 40.2 percent shooting and has a wiry frame, he has impressed the Lakers with his steady improvement, positional versatility, defense, ball handling, aggressiveness and post play. The Lakers have also heard from draft prospects that they would like to play with him.Though the Lakers have remained reluctant to trade their No. 2 pick to Indiana, TNT reporter David Aldridge reported the Lakers offered it to Sacramento for its fifth and 10th picks. Though the Kings declined the offer, Aldridge reported the Lakers planned to offer one of Sacramento’s picks along with their 27th and 28th picks to Indiana for George.All of this leaves the Lakers in a precarious situation. They could wait for George, who has told the Pacers he plans to join the Lakers when he becomes an unrestricted free agent next summer, in hopes of complementing him with a talented and, at that point, further developed roster. But banking on George not changing his mind over the next 12 months could leave the Lakers vulnerable. The Pacers almost surely would trade him to another team, which would then have a season to convince George to sign a long-term deal with them. While the Clippers had preliminary discussions about George, the Rockets, Cavaliers, Celtics and Wizards are among other teams that have reportedly talked to the Pacers.The Lakers and Pacers are expected to resume talks on Wednesday, when the Lakers will also learn if forward Nick Young plans to exercise his $5.7 million player option for next season.Staff writer Bill Oram contributed to this report.last_img read more