Building Long term wealth is not as hard as you think. All it requires is consistency and a plan. Watch now and learn how to turn all your hard work into the greatest retirement plan out there.
When fully implemented, this plan should be worth over $2,500,000 and your investments should be throwing off $15,000 -$20,000 monthly in passive income.
THE PLAN…
Buy one rental property per year for the next 15 years.
The key is to buy property in a decent area, in decent condition and at no more than fair market value… it is nice to buy something under market but it is not critical to the plan.
Buy property you can drive to within 1 hour.
Put 25% down on each property. (Money you earned from working our selling system)
Rent out the property. The rent must cover the mortgages, taxes, insurance, maintenance and management fees, if any.
Never spend any monthly profits, work to pay off the mortgage in 15 years. (You can take a 30 year amortized mortgage and pay the loan off early.)
THE RESULTS…
Let’s assume you are turning 40 years old this year and that you paid $250,000 for your first property and get $1,800 per month in rent.
Fast forward 15 years… when you turn 55, the first property you purchased will be paid off.
Assuming that the property did not appreciate at all, (in all likelihood it will appreciate but, for the sake of this discussion we will not make any such assumption,) you have a property with a true equity of $250,000 and all of the rent is going to you as you no longer have a mortgage .
When you turn 56, your second property will be paid off and you will have 2 houses free and clear (assuming no appreciation) you have $500,000 in true net equity and at least $3,600 a month coming in passive income.
Now let’s move on to your 57th birthday you have $750,000 in true net equity and $5,400 coming in each month as passive income
Fast forward to your 65th birthday when your 10th property gets paid off, without taking appreciation into account, you will have $2,500,000 in true equity and figuring rent still at $1,800 a month, $18,000 in passive income per month. And the best news is you still have 5 more properties that will be paid off soon.