60 Something? Here is How you Retire Now

Here is how you can take your existing net worth and convert it into assets that earn enough passive income to never have to work again.

retire now

Case Study

This year my mother will be turning 60 Years old! You see, being a single mom and trying to raise two boys wasn’t always easy both financially or emotionally. My brother and I got into our fair share of trouble and we had to live a very frugal life. She sacrificed everything for us, including any chance of saving for retirement or advancing her own career. My mother didn’t know anything about stocks but entrusted a family member who promised the world. Between the 1987 crash and the 2001 .com boom she lost just about everything. The single smartest financial decision my mother made in her entire life was to put whatever was left as down payment for a condo in Bethesda, MD with a 15-year loan. However, even with that nest egg she’s not in a position to retire now.
retire now

Her Situation Today

retire now

Her condo is free and clear and worth around $450k. She rents it out for about $1900 a month, which nets about $1100 after all expenses (HOA has a pool). That’s about a 5% net ROI. Better than what the banks will pay but not enough to help my mother retire anytime soon. If my mom was 50 and had more time, this strategy would work perfect for her. The reality is she wants to retire now and work part time for the next 2-3 years so here is how she can retire now:

Plan to Retire Now

  • Sell her condo for $450k. After agent fees we’re looking at: $423k.
    You can also use cash or funds from 401k/IRA
  • Purchase 5 investment properties @ $84k per property = $420k of Asset Value
    Use the remaining $3k to buy herself something nice or take a short vacation
  • On a $84k property and a 10% Net ROI (after all expenses and putting money towards maintenance and vacancy reserve – see details below) we can expect an income of $704 monthly or $8,452 annually.
  • With 5 properties she will generate about $3,520 per month or $42,260 a year. Not bad for not having to really work.

Property Details:

retire now

The Results:

In short, my mother would go from 5% to 10% net ROI or 3.2x more money each month. As you can see from the property details above, we have been conservative and put away $100 a month towards a vacancy reserve and $50 a month towards a maintenance reserve.

I told my mom we’re going to buy all these properties in Cleveland and as close to each other as possible so we only deal with one management company and one contractor.

retire now
Why Cleveland? Cleveland has been very good to us in the past and it will help their economy because Lebron James just resigned. In addition to her social security, 401k, and current income, my mother now has has a real possibility of retiring in the next couple of years.

Why 52 Properties?

One of the reason I started 52 Properties was to not only help my mother out, but thousands of other Americans who are in the same boat and are looking for a way to retire. I believe that the sooner the baby boom generation retires, the more jobs become available to tomorrow’s generation and we need to make this transition to keep this economy strong. I also believe that when good people like you and my mother retire, they can use their time to do good things in their community, making this world a better place to live for everyone.

We hope you have found this blog post on real estate investing to be useful. Feel free to comment below or email us with any questions.

About 52 Properties52 Properties is the place investors find weekly deals on turnkey off market investment properties yielding 7-12% net ROI or between $500-$2000 of net passive income per property per month. We will never email you more than once a week or share your information. You can sign up here:

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