By the way, how old are you?
The current property price situation would be difficult for the younger to achieve financial freedom as you.
I would reckon to work and save hard, buy what you could afford now.
Grab opportunity during the downturn in stock or property.
Patience will pay but need courage and standby ready cash.
Quote:
Originally Posted by Unregistered
This was what I did last year:
1. Sold my fully paid condo (for stay) at $2m. Bought in 2006 for $1m.
2. Bought a smaller condo (for stay) costing $1m, paid in full.
3. Use the balance from sale of condo to pay off outstanding loan of two investment condos.
4. Now own 3 fully paid condos. Investment condos give passive income of $80k pa in total.
5. No worries now as I don't have any mortgage loan.
6. Net worth in total about $3.8m, including cash $600k.
7. Achieved financial freedom.
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