{"id":25383,"date":"2019-04-11T01:00:45","date_gmt":"2019-04-10T15:00:45","guid":{"rendered":"https:\/\/realestatetalk.com.au\/?p=25162"},"modified":"2019-04-11T01:00:45","modified_gmt":"2019-04-10T15:00:45","slug":"your-roadmap-to-financial-freedom","status":"publish","type":"post","link":"https:\/\/channels.realty.com.au\/realtytalk\/your-roadmap-to-financial-freedom\/","title":{"rendered":"Your Roadmap To Financial Freedom"},"content":{"rendered":"

When building a property portfolio, your average investor tends to drift slowly in the right direction according to what they feel is realistic at any given time.\u00a0 However, a more focussed approach is necessary in order to achieve the best results.<\/p>\n

When I meet with a new investor, one of the first questions I invariably ask is\u00a0 \u2018What kind of financial result are you hoping to gain from investing in property?\u2019 Understanding the precise expectations of the investor is critical for planning the property journey.\u00a0 Once we know the timeframe, and how much passive income is required, we can financially model the required result to see what needs to be done in order to reach the desired goal.\u00a0 We can then be very strategic and directed in our actions.\u00a0 The problem with having no specific goal is that you start a journey not knowing where you are going to end up. It can even be hard to ascertain, at any particular point, whether you are doing well or not.<\/p>\n

I have always found it helpful to break down the property journey into four distinct phases -education, acquisition, consolidation and enjoyment!<\/p>\n

Education<\/strong>
\nA lot of investors get stuck in this phase.\u00a0 Last month I wrote about how focussing on strategy first, rather than property, can be a great way to get investors moving forward more quickly, and with greater confidence and purpose.\u00a0 It is important to acknowledge that you are never going to 100% sure, however much you have researched the topic.\u00a0 Being prepared to take a leap of faith is important.\u00a0 Remember, the real education will occur when you go through the process, not by reading about it as a theoretical subject.\u00a0 Aim to spend a maximum of 3 months getting yourself up to speed.<\/p>\n

Acquisition<\/strong>
\nThis is an important and exciting stage, but can also be quite daunting, so it is good to have a more experienced investor helping you to stay on track and make good investment decisions.\u00a0 Depending on your financial goals, the plan could be as simple as acquiring one new property per year for the next seven years.<\/p>\n

Consolidation<\/strong>
\nBecause we rely heavily on borrowing to fund our wealth creation, we typically end up with a reasonable level of debt.\u00a0 Therefore a consolidation phase is necessary. If we have allocated a few weeks for education, 7 years for acquisition, and 8 years for consolidation, we should be ready to reach the enjoyment phase and reap the rewards in just over 15 years.<\/p>\n

Summary<\/strong>
\nGiven the above scenario, building an asset base that would give you a passive tax free income of $100,000 per annum in around 15 years is entirely achievable for your average investor.\u00a0 My aim is always to target well researched, well located properties that are self-funding from day one, even with high levels of borrowing.\u00a0 Compare that with your average superannuation fund, and there really is no comparison.\u00a0 And if you start early enough, you may not even have to wait until you are pensionable age.<\/p>\n

If you would like\u00a0help with modelling your ideal investment scenario<\/strong>, please contact me at\u00a0ian@rocketpropertygroup.com.au<\/a>.<\/p>\n

………………………………………………….<\/p>\n

\"\"<\/em>Ian Hosking Richards<\/strong>\u00a0is a successful property investor with a portfolio of over 30 properties. He is the CEO and founder of Rocket Property Group, a leading independent real estate agency that helps hundreds of people each year enter the property market or grow their existing portfolios.\u00a0<\/em>
\nFor further information or assistance, please visit\u00a0www.rocketpropertygroup.com.au<\/a>\u00a0or call\u00a01300 850 038.<\/em><\/p>\n

 <\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

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