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Old 03-13-2017, 08:04 PM
Beastagoog Beastagoog is offline
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Join Date: Sep 2014
Posts: 946
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For the common man it's all about intelligent decisions and making the most of what you have. Doing endleas drugs coz your on 70o a week and dont think you can improve your situation is just a cop out. (Imho)

I.e:

If you own 1 property and have a decent income (80-100k+) it's very easy to make money and grow from that point.

For example:

70% of my mortgage is subsidized by renting out the detached first level garage (35sqm living area) that is converted to a studio. Which means I pay 30% of the mortgage on a current valued half million property. By the time the mortage is paid off and the value increases over time after an expected 10-12 years from now that property will be worth 600k+. I have a high amount of equity in my property so thr mortgage is low.

I plan to use that equity to buy my next property once I get back to fulltime work in the 400k range and rent out the remaining part of my unit which will cover all of the remaining units mortages+taxs and the surplus will go on to the new properties mortage.

Plan is to have over a million$ in assets by the time I hit 40 and the passive income from the unit rental will reduce my hours needed to work.

I did all this working a 6-3pm job like any ordinary person.

The problem I found with my generation of pals is most of them fucked their youths income blowing it on shit. I started on 650 bux a week after tax and ended up on almost 2000$. Instead of blowing it all on useless shit I saved it and invested it.

Differnece is, I'll be 40 and semi retired, others in my generation will be 40 and slaving hard even tho we had the same chances in life.

If you havent done anything financially with your years between 20-30 you havent done yourself any favor.
 


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