How To Live Off Rental Income
b"https://www.youtube.com/watch?v=Xkeu-wJhxiI\\n\\n\\n\\n\\n\\n\\n\\n\\nThere are two main ways you can build a property portfolio so you can live off rental income.\\n\\n\\n\\nBook in a Free Property Strategy Session\\n\\n\\n\\n0:00 - Introduction0:21 - The two main ways to live off rental income0:41 - Strategy #1: Owning properties outright2:12 - How many properties do you need to own to live off rental income?4:49 - Strategy #2: Positive Cash Flow Property5:40 - How many positive cash flow properties do you need to live off rental income?9:37 - The cool thing about investing in positive cash flow properties14:13 - How to get $15,000 in passive income from 1 property\\n\\n\\n\\nRecommended Videos:\\n\\n\\n\\nHow to get $15,000 in passive income from 1 property\\n\\n\\n\\nThe 3 Stages of Property Investing\\n\\n\\n\\nTranscription:\\n\\n\\n\\nRyan 0:00in this video i want to look at the different ways that you can live off rental income and how to live off rental income so how exactly does this work and how can you become financially free not need a job in order to survive anymore and just survive off the rental income that you get from your properties now there's two major ways to do this when we're talking about living off rental income the first way is if the mortgage is completely paid off and the second way is what you would call positive cash flow so we're gonna have two scenarios here we've got positive cash flow and we've got owned outright we're gonna start by looking at the only outright one because that is the most simple one to look at so only outright works really simply is that you take some money let's say you've saved up a deposit of about 20% and use that money combined with the remaining 80% that you borrow from the bank in order to go ahead and purchase a property okay so this is a little property there that we've purchased what you then do is focus on okay using rental income from the property as well as rental income from your job and your life in order to pay off the debt on this property here until you get to the point where that is now zero and you now own 100% of the property and so when your mortgage is zero you obviously don't need to pay your mortgage anymore and so now what happens with this is the money now goes to you that is such a terrible person but the money goes to you and you can go ahead and live off that rental income you got to have expenses of somewhere around 20 to 30% of the rental income but so you get the total rental income minus your expenses of 20 to 30% and that's what you can live off so i think i've got like a mortgage calculator from years ago okay i couldn't find the calculator so i just quickly made a spreadsheet here where we've got our income goal the rent coming in from our properties per week this is then annualized times by 50 so allowing two weeks of vacancy per year regarding our expenses are roughly 20% and how many properties you would need to achieve your income goal so obviously if your income goal was smaller let's say you only need to live off $50,000 and let's say you did the two property strategy where you purchase a property and built a granny flat so your income is 400 from the house equals 400 from the house plus 300 from the granny flat then you're looking at $700 per week how many properties would you need to reach 50,001.79 if we put that up to 100,000 then you need three and a half of those properties with granny flats in order to reach your income goal of $100,000 so that's one way to live off rental income is to own your property outright so basically if we go and we'll fix up this image we purchase the property we pay down the debt we own it outright and then we have a bunch of different properties that all generate income okay that we own outright completely outright now you can pay these off using your own money him pay them off using the positive cash flow from these properties if we look at the two property strategy you got $520,000 so 400,000 for the house 120,000 for the granny flat $700 in total rent plus a low i..."