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.
Her Situation Today
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 ValueUse 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.
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.
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 Properties – 52 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: