If you dream of immediate retirement, this is your year. The good life stands ready and waiting for you to claim it. If you’re motivated, there’s no good reason why you can’t self-educate and retire within the next 12 months, no matter how much money you have right now.
You’re going to use real estate to do it. Why real estate?
Purchasing the right income property will provide more passive income than the total of your personal bills. You can then “retire” from your job or any other activity that requires trading time for money.
With this plan, you don’t have to save and invest for retirement.
You don’t have to worry about stock market crashes, broker theft, or outliving your money. You don’t have to worry about being downsized or fired because you own the asset that pays you.
Your income is replenished every month. If you want more income, you just reduce expenses, raise rents, or buy another property.
Insanity Wears Suits and Travels in Herds
If you follow conventional wisdom, you’ll never be able to retire.
The conventional plan of saving and investing for decades no longer works. Due to low returns, high inflation, and unfair taxes, your savings are melting in purchasing power faster than you can save them.
Most investors don’t even realize this. What good is a 3% gain on your investment if REAL inflation is nearly 10% (ShadowStats.com)?
Even when real inflation wasn’t running so high, saving and investing was the most difficult way possible to achieve retirement because it took your entire life to get there.
Waiting to retire until age 65 leaves very few good years before doctors, hospitals and nursing homes strip-mine your assets during your slide to the grave.
A Better, Simpler Solution
Just buy one large enough residential income property that generates enough income to pay all its expenses, a large mortgage, a manager to run it, and all your personal bills too.
Once you do that, you’re free of a schedule and can 95% retire immediately, just managing your manager. You can certainly do this within the next year.
For me, this formula has worked extremely well using mobile home parks.
Advantages are many. You can buy multiple lots at once. You’re only renting the lots, so there are no dwelling repairs. Cost per rent-stream is far cheaper than homes or apartment buildings.
But I’m not the only one having success. Two people I freely mentored recently bought their own parks this past summer.
Meet the New Leisure Class
Andrew wanted passive income, so he could retire without having to work another 35 years. So he bought a mobile home park in Nebraska that instantly earned him more than his full-time job. Better yet, the park came with good systems and a strong manager.
So Andrew continues to live in Wyoming, visiting his park every other month while keeping his full-time job, which he still enjoys. But now he can retire anytime he wants. Andrew is just 30 years old.
Pat and Steve reached retirement age with a medium-sized nest egg–but not enough to cover the full retirement they dreamed of living. So they used their savings as a down payment to purchase a mobile home park in Arizona that did provide the income level they needed to fund their dreams.
It, too, came with a strong manager, so Pat and Steve immediately retired. Now they enjoy their ranch in Wyoming during the summer and live in their Arizona park in the winter.
This isn’t rocket science. If you already dabble in real estate, it merely requires you to think bigger. If you’re new to real estate it just requires a few months of self-education.
The Steps Are Straight Forward
* Read books and materials from people who have already succeeded using this plan.
* Start shopping for properties.
* Pencil out the most compelling deals.
* Visit the best properties, speak to sellers, learn about the property, and discover what they need from the deal.
* Explore financing options. Can the seller finance part or all of the deal?
* Visit local banks. Learn their terms (interest rates, length of loan, percentage of park value they will loan, amortization length). Visit at least three banks, saving the most promising bank for last.
* Make an offer.
* Negotiate as needed.
* Sign a purchase agreement.
* Apply for the loan.
* Perform your due diligence.
* Close the deal and take over the property.
* Establish systems and standards or keep the existing ones.
* Put a manager in place or keep the existing one.
* Manage your manager, make deposits, and pay park bills.
Time Is Far More Valuable Than Money…
Anything you do to gain more time is the best investment you’ll ever make. Self-education and action are a small price to pay to regain freedom for the rest of your life.
Why not make that happen for your family this year?