To retire you need to earn more income than your expenses every month. Wanna get there in 5 years or fewer? You can! Invest in rental real estate and then build your portfolio. Do the math. Say you have 8 single-family homes… rental properties… and you earn $8000 a month in passive income. That’s pretty good.
Now use some of that money to refinance and pay off some of the properties. Then buy more rental properties or maybe a small apartment building or two. Become a killer asset collector! You can always scale up.
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Hi, Jay Massey here, with the CashFlowDiary.com and in this video I'm going to explain how to retire in five years.
As you know retirement is simply being able to have more money come in on a monthly basis then goes out on a monthly basis, without working.
But here's how you can do that same process. How to retire in five years is simply for most, for many people is to be able to buy, let's just say eight single-family houses over that five-year period.
That's barely a little, bit more than one to one-and-a-half houses per year. You take these eight houses you make sure that each house in your neighborhood went for approximately a thousand dollars per month. So all together you have eight thousand dollars.
Then over the next five years, you let the equity grow in these four and then you pay these four off and then you're left with approximately four thousand dollars a month of gross income coming in on an annual or sorry on a monthly basis which has the ability to help a lot of individuals get really close to retirement. you say well “Jay that's not going to be enough for me.”
No problem. Then over the next five years instead of buying 8, you huy 16 until you get to the number. at the end of the day it doesn't matter it's always about assets and collecting them. you're going to become what i like to call an asset collector, over the next five years and then you're going to use those very same assets to pay off the ones that you bought at the beginning, so that you have the ability to eventually call yourself retired.
Thanks for watching.
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