Episode 3: How Many Properties Do You Need to Retire | Did you realize you are hardwired for unhappiness?

Episode 3: How Many Properties Do You Need to Retire | Did you realize you are hardwired for unhappiness?

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Today, I answer the frequently asked question of how many properties do I need to retire. Img 3a 1

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.

  1. Build your asset base
  2. Transition to lower loan to value ratios
  3. 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:

Quotes:

“Own a small group of investment grade properties rather than secondary properties” Michael Yardney  Different Size Houses

“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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About

Michael is a director of Metropole Property Strategists who help their clients grow, protect and pass on their wealth through independent, unbiased property advice and advocacy. He's once again been voted Australia's leading property investment adviser and one of Australia's 50 most influential Thought Leaders. His opinions are regularly featured in the media. Visit Metropole.com.au


6 comments

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 capit ...Read full version

0 replies

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 ...Read full version

1 reply

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 pr ...Read full version

1 reply
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