Wealth Wheel
So what exactly is a wealth wheel - and how will it help me in my property investment journey?
A wealth wheel is made up on multiple properties, a mix of either high growth or high cashflow. This is usually all in its own entity, maybe a company or trust, and overall you are aiming for the group of properties to be cashflow neutral or positive.
Generally high growth properties will be negative cashflow (negatively geared) so there is a limit of how many of these you can buy. BUT high growth property is a key driver to growing your overall wealth - so you want as many of these as possible.
High Yield properties will have positive cashflow (positively geared) meaning they will put money in your bank every month after all costs and expenses are paid. While this cashflow is great, these high yield properties generally don't increase in value as well as normal properties.
So if we combine both these types of properties - some high growth to build you wealth, and some high yield to provide cashfow - we can make up our WEALTH WHEEL. The number of each type will depend entirely on your own situation, but I would be aiming for at least 4 properties in total per wealth wheel entity.
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