News Flash: You don’t need 1,000 doors to achieve financial freedom!
The “freedom number” of doors needed for financial freedom is likely lower than you think, depending on your definition.
While single-family rentals are excellent for building wealth, they typically aren’t the cash flow machines they’re often made out to be.
You can become a real estate millionaire with as few as 5 doors!
The strategy is to play the long game and let your tenants pay off your mortgage.
Depending on market location, loan-to-value, and interest rate single-family rentals typically net between $100-300 per month (after PITI, management, vacancy, repairs, and capital expenditure costs).
However, once the mortgages are paid off, the cash flow from your 5 free and clear rentals could increase by 200% or more. Plus…
Thanks to appreciation, you could be sitting on over $1 million in equity!
That’s a nice boost for your retirement plan, but what about financial freedom?
It takes 20 to 30 doors to match the median US household annual income of $75k.
At that point, depending on your lifestyle, you’ve achieved financial independence.
You may not be truly financially free yet, but you’re certainly on the right track.
Depending on your timeline and goals there are simple strategies that you can use to achieve financial freedom faster.
I’ll be sharing a couple of those strategies this week as I wrap up the Real Estate Investing Fundamentals Masterclass.
| Be sure to tune in! |
