Whaleoil Challenge: Who can create the highest passive income from One Million dollars?

lotto-max-winners-connie-and-kevin-mulatz

lotto-max-winners-connie-and-kevin-mulatz

When I read about lotto winners and what they spend their winnings on I despair. Yesterday I read A Newspaper’s article about how to blow one million dollars of lotto winnings and I wondered if there is anyone in the media with financial literacy.

Both Cam and I have a long history of property investment and our ultimate goal has always been passive income. If we won one million dollars we would not be running out to buy a house and a car or a boat. We would find an investment for a million or less that would put the highest possible passive income into our pockets each month. Blowing a million is like killing the goose that laid the golden egg. Investing wisely means an unlimited supply of eggs.

Most people cannot wait for gratification. They want the house and the boat now. Very few have the financial literacy or the patience to invest so that they end up with the house and the boat as well as a million dollar asset.

So here is my challenge folks. Imagine you have won a million dollars from Lotto. Which of you can turn it into the highest annual gross passive income? Your task is to find and link to an investment property or a commercial property that is for sale that states the annual gross income.The winner is the reader who finds the highest gross annual income. The rules are that you can spend less than one million but you cannot spend more.You are allowed to buy a number of properties that add up to Million if you choose and present their combined annual income as your total.

In real life, of course, it would be the net income that would determine the best deal but that takes more analysis than most of you would have time for and this is just a fun competition so just the gross income will do. This competition is about the numbers. It should go without saying that no matter how good an investment looks in an advertisement you must always do detailed due diligence before purchase to find out what the real value is before closing the deal. You do not want to purchase in haste and repent at leisure.

One of the many places you can look at when searching for a property investment is?propertyventures.co.nz?They make it easier for an investor to start doing the numbers because unlike standard house listings they provide extra information such as rental income.

Another place is cashflowproperty.co.nz

For commercial property, Olly Newland ollynewland.co.nz?is a good site to look at.

propertygenie.co.nz is another New Zealand property investment site well worth a look as is propertyinvestorcentre.co.nz?and ifindproperty.co.nz

If you are interested in adding a granny flat or a minor dwelling to an existing property why not have a peek at?fuzoproperty.co.nz ?

For tips from a keen Kiwi investor I like to read propertywithscooter.com

If you are interested in learning more about property investing I highly recommend New Zealand Property Investor magazine. I am a regular subscriber and it helps me to keep my finger on the pulse of property investment in New Zealand.

Happy hunting for a great return on your mythical million dollars. I look forward to seeing what you can find in the comments.

33%
×