"The house has the edge" - Steve Wynn
When you goto invest your money ask yourself this,are you funding your retirement or someone else's? Isint it crazy that owning just one Index fund in the S&P 500 over time you are already beating 96% of mutual funds and "top" hedge fund managers?
Warren Buffet even made a bet against anyone in america that the index fund will out perform any selected the hedge fund managers over a 10 year period, so far hes up 43%, the fund up 10%. WOW!
Total Needed = Expenses x Years Retired x 1.25 percent (tax)
Shortfall = Total Needed - Current Retirement Savings
Yearly Savings Shortfall / years retired
Monthly Savings = Yearly Savings / 12 months
Avg 2 Family Home Cashflows $500/month net
Downpayment $25k to Hold or Rehab for $30,000 profit
Monthly Expenses = Yearly Expenses / 12
Units Needed = Monthly Expenses / Cashflow
Capital Needed = 25k x Units Needed
Rehabs to complete = Capital needed / $30,000
Total Rehabs / 5 years
Every 20 offers = 1 Deal Rehabs x offers = amount of offers
Example (always round up)
Yearly Expenses $60,000
Monthly Expenses $5,000
Units needed = Monthly Expenses / Cashflow
Units needed = 10 Properties
Capital needed $25k x 10 = $250k
$250k/30,000 = 9 Rehabs
9 Rehabs/5 years = 2 rehabs per year
If you can rehab 2 properties per year,
you can retire in 5 years with an income of $60,000/year
Difference = Shortfall / Capital Needed
~ Keeping Dreams Alive ~
P.S. This is how I did it.
Warning: don't watch it unless you're prepared to get in, now.
P.P.S. Checkout our income disclosure while you're at it - here.
Again, click here - watch the hangout and leave me your thoughts in the comments.
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