Hi, this might be interesting for some people so i thought i share.
I bought my first house when i was 26yo and it had three layers of which i rented out 2 and had 1 for myself. I had a 90% loan but the rental income covered the mortgage and i started paying of as much as possible every month.
Few years later i moved to a cheaper area and rented a nice little bungalow for a third of the rent i had coming in because now i could rent out my own house completely. My income increased over the years and i kept paying off as much as i could on my mortgage.
Two weeks ago i paid of my mortgage and now my netto income has gone up with 1200 euro a month because i can keep the rent on top of my salary.
I am 37yo now and this passive income is creating a great financial situation and i have always a paid of house to go back to if needed or i can start backpacking in asia while living of the rent.
For now my plan is to save and to buy another house to do the same again, only now i can pay it of much quicker because i have two rental incomes.
Edit: my friends laugh at my little car and my little rental bungalow while they are deeply covered in debt. I just let them laugh because i am happy with my choices
Submitted July 07, 2018 at 05:27AM by billenbijter https://ift.tt/2lZp7EH
