3 HOUSES + PAY OFF DEBT = FINANCIAL FREEDOM
What if achieving financial freedom wasn’t hard to achieve?
With the 3 Properties to Financial Freedom strategy it isn’t!
Here’s the details:
ACCUMULATION:
Buy the properties that will make you financially free long term.
Step 1: Purchase 3 properties.
The aim is that these properties will go on to deliver you financial freedom once the debt is completely paid off.
EXAMPLE
Property #1
$600,000 House
Rents for $500 / week
Property #2
$600,000 House
Rents for $500 / week
Property #3
$600,000 House
Rents for $500 / week
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:
This is where you pay off the debt on the properties that will make you financially free long term.
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:
Pay principle and interest repayments off the home loan
Use any tax benefits you receive at tax time to pay down debt
Use any surplus income to pay down debt
Invest in more properties, hold them for until they have doubled in value, then sell them to pay down debt
Earn more through your employment and use the extra money to pay down debt, or spend less and use the extra savings to pay down debt
Start a business and use income from the business to pay down debt
Growing​ your foundation is all about expanding your portfolio from 3 properties to 4 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.
Without debt, you will be financially free! This is just the beginning of the journey. Now you can work out what to do for the rest of your life.
WHAT ABOUT YOUR OWN HOME?
Owning your own home is an important goal for many people but it is not required for financial freedom, which is why the 3 properties to financial freedom strategy doesn’t focus on it. You can purchase your own home before purchasing your foundational properties. Often the capital growth in your home can be used to finance your foundational properties. Or you can purchase your home after the foundational properties. It’s up to you.
WHAT IF I ALREADY OWN MORE THAN 3 PROPERTIES?
Not a problem. We can discuss how these properties align with your longer-term goal of financial freedom.
Like what you've watched so far?
Why not book a one-on-one Strategy Session with us here:
pumpedonproperty.com/strategy...
WHAT CAN YOU EXPECT FROM YOUR STRATEGY SESSION?
By the end of your session you’ll have identified:
1. Where you are right now in terms of your property investing goals.
2. Where you want to be by the time you retire.
3. The roadblocks currently holding you back from achieving your goals and how to address them.
4. Your next action steps.
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