2 HOUSES + 2 GRANNY FLATS + PAY OFF DEBT = FINANCIAL FREEDOM
What if achieving financial freedom wasn’t hard to achieve?
With the 2 Properties to Financial Freedom strategy it isn’t!
Here’s the details:
ACCUMULATION: Lay the foundations for financial freedom
Step 1: Purchase your 2 foundational properties and build a granny flat on each of those properties.
The aim is that these properties will pay for themselves and go on to deliver you financial freedom once the debt is completely paid off.
EXAMPLE
Property #1
$600,000 House
$210,000 Granny Flat Build
Rents for $500/week
Rents for $350/week
Property #2
$600,000 House
$210,000 Granny Flat Build
Rents for $500/week
Rents for $350/week
Important Points
Each property has a principal and interest loan over 25 years
Each property should be approximately cash flow neutral up to a 5% interest rate
The numbers don’t have to be exactly this, you can change the numbers based on your circumstances and goals
The aim is for these properties to be paid off over the life of the loan (baring unfortunate circumstances). So now your focus shifts to paying off the debt quicker.
CONSOLIDATION: Speed up the process of achieving financial freedom
Step 2: You now focus on paying off the debt on your foundational properties faster, buying more foundational properties or making a positive change in your life.
Paying down debt​ can be done in several ways:
Invest in more properties and use capital growth or cash flow to pay off debt
Earn more through your employment and use the extra money to pay down debt
Spend less and use the extra savings to pay down debt
Start a business and use income from the business to pay off the debt
Growing​ your foundation is all about expanding your portfolio from 2 properties to 3 or more properties using the same or a similar strategy.
Now that you have your foundational properties you don’t need that job you hate anymore to save for retirement. Now could be the time to make a change for the better​ in your life. Change careers, move locations, work less and live more.
FREEDOM: Live your life your way
Step 3: After your foundational properties are paid off completely, you can take the income from those properties and pay yourself a wage.
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