Today, I answer the frequently asked question of how many properties do I need to retire. 
This just may be the wrong question because the number of properties you need before quitting your job depends on your assets value and how hard your money is working.
To become financially independent you need to build a cash machine by growing a substantial asset base of high growth properties.
These are the steps you take.
- Build your asset base
- Transition to lower loan to value ratios
- Start living off your property portfolio
In my mindset moment, I chat with best selling author Tom Corley about a study that concluded that we are hardwired to be miserable .
Today’s discussion includes:
- How many properties you need to retire
- Calculating how big an asset base you require to get the income you need to live off your property portfolio
- How to create a cash machine with your properties
- Having the right finance strategy
- Having an asset protection plan to see you through the ups and downs
- Following a known, proven and trusted property investment strategy
Mindset Message: We are always striving to improve and better ourselves.
- If human beings are going to be successful, we can’t be happy all the time or we won’t push ourselves to achieve more.
Links and resources:
- Michael Yardney
- Metropole
- Rich Habits Poor Habits
- Living Off Equity Calculator
- David Buss
- Thomas C. Corley
Quotes:
“Own a small group of investment grade properties rather than secondary properties” Michael Yardney 
“You build a portfolio not to own all of the properties, but to build the lifestyle you want” Michael Yardney
“Buy an asset base and lower your debt” Michael Yardney
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'Episode 3: How Many Properties Do You Need to Retire | Did you realize you are hardwired for unhappiness?' have 6 comments
August 15, 2017 @ 6:55 pm Steven attard
Is it still a good time to invest in Sydney units
August 15, 2017 @ 8:19 pm Michael Yardney
Steven
It would have been better to buy 5 years ago (in fact 10 or 15 years ago) but there are still good opportunities – however strict property selection is critical.
I know the Metropole Sydney team is having difficulty finding investment grade properties. – There is still a few years life left in this market
August 17, 2017 @ 1:51 pm Rod
Hi Michael,
I am looking for my third Investment property but this time with SMSF, I have buying power of $450k but must be 70% LVR suburb. I have been advised look in Melbourne, but I don’t like Melbourne as only suburbs in my range have high crime and unemployment. I like Gold Coast but the Comms Games have started inflating prices. I also like Brisbane but I already have 2 properties between Brisbane and Gold Coast. I’m torn, any comment would be appreciated. I totally agree with your assessment of property purchase, as If you look at the data only 1 percent of property investors are successfully wealthy, therefore why follow the crowd?
August 17, 2017 @ 3:29 pm Michael Yardney
Rod – Correct property selection in your SMSF is more important than ever as you will not be able to refinance this property.
And if you think about it, the vast majority of the value of the property when you retire and benefit from it will be capital growth – that’s why location is critical.
Interestingly only this week we purchased a property in that price bracket for a client with a 70% loan to value ratio in a good middle ring gentrifying Melbourne suburb. If you’re looking for long-term growth that is the place to be.
Steer clear of the Gold Coast. Why not have the team at Metropole help you find an investment grade property – call us on 1300 20 30 30
August 15, 2017 @ 4:54 pm Kevin Sheehan
Just confirms everything my wife and I have done and are currently doing.
August 15, 2017 @ 6:01 pm Michael Yardney
That’s great news Kevin -t hanks for leaving your comment