You Don’t Need Financial Freedom To Live The Life You Want
You actually don’t need financial freedom to be able to quit your job and live the life that you want. By simply acquiring your Foundational Properties you can have the confidence to live your life knowing you will be financially free in the future.
Free Strategy Session – https://onproperty.com.au/session/
0:00 – Introduction
1:25 – Hayden’s story how he’s living the life he wants even though he doesn’t have financial freedom yet
3:11 – How Burwin is able to go from working crazy hours to live a lifestyle he wants in Byron Bay
4:54 – How to leverage your crappy job to set yourself up in just a couple of years
6:38 – You can have huge flexibility by using this strategy
7:52 – How Josh is able to quit his job and live overseas for 6-12 months
11:22 – How these foundational properties pay for themselves and create financial freedom for you
13:14 – You don’t have to be stuck in your job until you’re financially free
14:19 – Free Strategy Sesson: https://onproperty.com.au/buyers-agent/
Something that’s really interesting is that you don’t actually need financial freedom in order to live your life. I’m sitting here and like
a with Simon Everingham from pumped on property and we’re on our way down to Brisbane to look at a bunch of properties for clients and we’ve just been talking about a few clients stories of people who have purchased their foundational properties and and now going on to quit jobs that they hate and to live their life, which is super exciting. Yeah. I think it’s something that’s really important that people don’t really understand and when I talk to a punch of investors, it’s like everyone wants to achieve these sorts of stuff in such a short period of time. Everyone wants to try and become financially free and in five years in I’m like, yeah, I understand why you want to do that. You don’t enjoy your job or you want to spend more time with your kids. You want to go travelling more. And this is what I found really interesting about a couple of clients and you know, you want to do something similar to this as well. It doesn’t take the actual financial freedom to have the competence and have the ability to step back and you might not do it for the rest of your life, but stepping back for six months, 12 months, 18 months, two years, and you know, refocusing on your life and the things that mattered to you and, and just, um, yeah. Getting that energy back into your lower half. I saw
this in an interview that Ben did with one of your clients, heightened on his channel. I’ll link up to that video down below, but this guy is talking about purchasing, doing exactly what we’ve talked about for ages, which is the two properties to financial freedom strategy. So he’s purchased two properties. He’s building to granny flats on those properties and his plan is once that’s done and those properties are paying for themselves, he’s then going to quit his job and him and his partner looking at moving onto the sunshine coast. Likely taking a pay cut, but going to live up here with a more Cruisey, more casual live knowing that the financial freedom has set up for them in the future. They don’t have it now. That’s the key thing. So many people come into investing in property in. They’re like, I don’t want to achieve financial freedom in three years, or I want to achieve it in five years, and that’s really difficult to do given how much properties cost, how much you need to borrow, getting enough cash flow from properties.
You just need to have an extremely good income to be able to borrow enough to actually fully achieve financial freedom in just a couple of years. Exactly, but purchasing those foundational properties that pay for themselves and will eventually overtime pay themselves off and when they’re paid off, you’ll have financial freedom maybe 15, maybe 20 years down the track. That is achievable within a couple of years and so even though you may not have financial freedom and a couple of years you’ve got yourself set up. You’ve got your retirement set up so you don’t need to end up on the pension and then you can do things like Hayden’s doing, which quit your job, move into state to the sunshine coast or wherever it is you want to live and then pursue a job that you do like working at cruisy job so you can go surfing outside of it. You’ve got some other clients doing similar things, right?
Yeah, definitely. One of our other clients, Bill and from Byron Bay and Ben went down and caught up with him last week and did a video which should be up in the next couple of weeks and what he has done, he’s been working away for the last 11 years inside, like not full time, but he’d go away and do six weeks on and then come back and have a couple of weeks. You’re working in the mines? Nah, he wasn’t. Well, I think he has worked in the mines, but his most recent project has been building a hotel out of Lord Howe Island, which would have been pretty cool, like a nice place to be out there. He said it was cool but pretty full on and definitely ready to come home, but one of the things he took that because he knew he was going to get paid a decent income side. He worked his ass off for that 11 year period and he saved up a good buffer and he’s enjoyed a good laugh, but now he’s kind of realized that I’ve lost the relationships that I’ll want to have with my friends and my family, so he’s now purchases to foundational properties.
He’s coming back after these contract ends in at the end of 2018 to live in bar and by him he just needs some workout. He’s expenses and Jose is going to do his life for his friends and get bought and just enjoy his life. Reconnect with these friends for ones which is just so nice to know that like he can take that lifestyle, enjoy that lifestyle. That he really wants to be happy and have the relationships that he wants with his friends, but then also know that he’s done the hard yards. He’s done the hard work and in 15 years time he’s going to be completely financially free through property.
Yeah. And so that’s an example of taking a high paying job that may not be ideal. So his high paying job is obviously like kind of in the middle of nowhere, so he’s connected with family or friends, but he’s getting really, um, so he’s taking that high paying job, using it as a way to be able to borrow money and invest in property as well as using that extra cash to be able to save a deposit is getting into the property market, buying a property that he’s going to, I’m guessing it’s going to be positive cash flow after you build a granny flat granny flats out by. It’s been well and truly positive flow. It’s like getting in that position where the properties are paying for themselves and then he’s taking his foot off the gas and just going to live the good life. And now all he has to focus on is how much does it cost to live in Byron Bay.
Yeah. And he knows that he can hustle as well, like he’s hustled for 11 years, so his plan is to do this for 12 months, come back and reenergize those batteries and then after that year he, he’s going to be feeling a lot more energetic and ready to go. And then what is plan would be after that is to get back into the workforce and figuring out a way that he can in those properties outright in, in less than that 15 or 20 year periods that he might try and go and get another high paying job and ucf excess income to pay off the debt on the properties and granny flats, you know, he may invest in other properties, he may do some development projects because he’s a builder. Um, there’s lots of opportunities, but he just wants to come back and recenter himself and re energize himself it so that when he’s ready to go again, he’s ready to go again.
I love the flexibility that comes with it. Yeah. It’s of flexible. And so he can stop, come back, have a whole load it for you. Basically not a complete holiday. So we’re gonna be working to pay for his life. Yeah. Um, those properties are ticking away paying for themselves and then once his batteries are recharged and he decides he wants to pursue his career again, Erbitux high paying work, then he can go and do that. And then as he does that and then it’s extra money, he can use that to either reinvest again, buy another property or he can use that to pay down the debt on his property is quicker to achieve that financial freedom faster. So there’s so much flexibility in that. I feel like it really takes the pressure off people where your career is this constant. It’s like it’s pushing you up the career ladder and you can’t stop. Whereas if you can purchase those foundational properties and do that in a period of maybe two or three years, then you just don’t have that pressure anymore that you have to pursue a career. You can stop for a bit. Then you can get back into the workforce later on and pursue a career lighter. Something that you love or work that you don’t enjoy, but you want to pay off those properties faster just really gives you that flexibility. Exactly on the client’s doing it as well.
Yeah. Well that last example then figuring out what Korean path you. One of my best friends, Josh, he’s just about to build his second property with us. Well, his first property was just a single income property within about 16 kilometers of the Brisbane. Same a day that’s just been ticking away. I think he’s had it now for two and a half, three years and that property is actually a got revalued recently for his new line going up over $100,000 in equity. No less. Yes, I. He’s absolutely fronting on that and then he just purchased a nice piece of land in Brisbane where he’s going to build a brand new jewel occupancy home on that which should be completed by probably April next year.
And we actually did a video on that side looking at that opportunity, which was a subdivision into six big blocks. So again, I’ll leave the links to that in the description down below too.
Yeah, check that one out. And so once he’s got those organized, he told me I actually caught up with on the weekend down in Sydney and um, he told me that he’s just going to principal and interest on that first investment property, his re finance to get his parents off guarantor and he’s also refinanced or at release a tiny bit of equity for this new bill purchase and now on principle and interest. That one is $25 negatively geared awake. So very basic. But then after he’s completed the build on this brand new property after, because it’s going to give him such good cath flow in the short term plus depreciation benefits. His portfolio should be positively geared after tax time but anywhere between 11 and $15,000 every single year, which both on principle and interest lines and he’s just going to put everything that comes in from that property back into the property back into the offset account to try and minimize some of those interests or payments.
And then he then has afraid of. He knows those properties are just going to take away, do what they need to do for him, and he’s been working in a job that he highlights now for the last eight years I think is a linesman down in Sydney and he just is so over the hustle and bustle of Sydney. Just can’t handle it anymore. So He’s thinking of taken a redundancy next year and him and his Mrs. gonna pack up and head over to Indonesia and live in Indonesia for a few months and then they’re going to head over to Sri Lanka and live in Sri Lanka for a few months and just take six to 12 months to just focus on themselves and enjoy their life before they come back and get back into it and start a family and things like that. So you know, he’s also created that freedom for himself to make that decision and try and figure out exactly what he wants to do.
Like the main reason he’s going overseas is to spend some time reading books, understanding what he wants to do with the rest of his life because he knows he doesn’t want to get back into being aligning. He would love to move down the coast so he wants to figure out an occupation where he can probably work a little bit more remote so it’s going to increase his skill base so they can go and do that and start to do something that he really loves and same thing he will be even if he doesn’t figure it out what he wants to do, he’ll be completely financially free in the next 15 years just because of the decisions that you made early on and yes, he did do a bit of hard work, but he’s going to reap the benefits of it.
Honestly, nothing comes for free. You got to do that hard work to secure those foundational properties, but then once you have secure with them, then you get that flexibility over the next 15, 20 years. While those properties are paying themselves off and he mentioned that he’s getting extra cashflow is pouring that back into the properties, that’s the whole idea is that you purchased the properties than paying for themselves and the extra cashflow that they’re spinning off you putting back into the property to pay off the debt and so basically over time you paying less and less interest and hopefully rents will be going up so you’re getting more cash flow and then the properties are just paying themselves off. So rather than taking the cashflow out in the early days, the property is become like a self contained entity where all the cash is and paying off the property.
You can use the extra cash flow to build out those emergency funds that you might need when there’s maintenance and stuff like that. But basically those property investments become their own little island that just take care of themselves for the next 15 years and pay for themselves. And then eventually you pay that last mortgage payment. You have no mortgage at all anymore. And then that’s when you start to flip things and say, okay, that rental income. That was paying off the mortgage. Let’s now put that into my pocket and you can have that financial freedom, but in the meantime, in that 15 year period or however long it is, you have the flexibility to go out and live your life. So I hope these stories really inspired you, that you don’t need complete financial freedom in order to go and live your life in order to quit a job that you hired or took a shoe and you a new career path. That by acquiring these foundational properties that will go on to achieve financial freedom. You have that security of knowledge that you might be on the pension, that these will pay for you in the future and then you can go and you can take time to mature what you love and you’ve got that flexibility.
Yeah. One thing I did want to mention as well as all of these people didn’t even realize that they were going to be able to have the freedom to do that until they kind of went out there and executing on that strategy. So you know, they always thought that they were going to be stuck in that job for the rest of their life until they pay off the debt on the properties. But then once I realized, Hey, these properties are going to be well and truly paying for themselves, you know, I’m, I’m cool, I can.
No one really talks about that. Everyone just talks about financial freedom and working until you get the idea that you can start working. Yeah, because the properties will do it for you. It’s just not really spoken about. So they’re really excited to share this and really excited that it’s resonating with a lot of you out there and that same people start to implement this and seeing the life change that’s happening is absolutely amazing. And so we’re heading down to Brisbane at the moment to look at. I think we’ve got eight or 10 properties to look at it today. I’m age, which have granny flat potential to get that positive cash flow for clients. So that’s something that you guys are interested in. If you want help finding these properties that can go on to deliver financial freedom for you, that’s what the team over here at pumped on property to and they’re offering free strategy sessions to you guys.
So if you want to get on the phone with Simon or one of the team and talk about where you’re at, where you want to be, and how you can start acquiring these financial properties that head over on property.com dot EU, and you can book a free strategy session over there. You can choose a time in the calendar that suits you, go through that. You can get the next steps that you need to work towards your goals or financial freedom. And then if you decide to work with pumped on property, that’s great, or you can go out and do it yourself as well. So again, head over on property.com that, uh, you, you can book a free strategy session over there. Thanks so much for sharing these stories inspire you. And while you’re here, guys, go ahead and check out this video that man Simon did on that development opportunity where we talked about those properties that are being built and there’s another one there on a granny flat opportunity walk through that I did with crystal, so I’ll link up to those as well as in the description down below. Thanks so much for watching guys. And until next time, stay positive.
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