For many years, I had a goal to become financially independent. I certainly believed it was possible, as many people had achieved financial independence in this world. I felt that property investing was the vehicle to achieve this.

I had calculated that the rent I would receive from owning five properties outright, would replace my income and I would no longer need to work. I also realised holding a portfolio of five good properties would create substantial wealth over time.

The goal was written … just needed to work out a strategy on how to own five properties outright.

Here’s the condensed version of what we did to achieve our goal.

The family home was purchased in 1997. We purchased our first investment property in 1999. At that point, we realised education was needed. A lack of cash-flow prevented us from purchasing additional investment properties. This presented a challenge since our strategy was to build a portfolio of five properties.

So we took a break from investing and got educated. We didn’t buy our next property until 2004. In the time between 1999 and 2004 we focused on three main strategies:

– paying down the loan on the property we lived in,
– researching and getting educated on investment strategies to enable us to achieve our goal, and
– putting the right finance structure in place to enable the purchase of additional properties.

I completed a nine-month property investment course. We attended seminars, read lots of books, completed home-study investment courses, spent weekends and evenings researching and getting to know different markets and different styles of property. We subscribed to magazines, newspapers and travelled distances to research different areas and got a feel for different types of property markets.

Suddenly we felt equipped with knowledge.

Our time out of the market plus paying down our existing loans, created equity which branded cialis drugstore could be utilised to purchase additional properties. Since 2004 we have purchased five properties.

I don’t feel comfortable being in the position of a high debt-to-equity ratio and like to sleep at night. Along the journey we have sold some properties to pay off debt.

Some of the properties purchased in the earlier years are not the type of property we would buy today. Select properties have been sold to free up cash and pay down loans. Eventually our portfolio will settle into a quality Levitra Professional portfolio comprised of the right type of property in the right type of area with high potential of capital growth over the long-term.

As properties increase in value, we will then be in a position to buy more property, if we chose.

With a goal, strategy, education and action it is amazing what you can achieve.

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Category: Inspirational/Motivational
Keywords: Financial independent,create wealth,creating wealth,personal wealth,property portfolio,property investing,property portfolios