Hey everyone, I’m new here. I’m in high school and have been trying to scheme up ways to retire early. I will share my plan with you, I would be happy to hear your feedback. Ok here it goes
The plan starts like this, live a frugal lifestyle and constantly be saving money. Once enough money is saved, buy a cheap, yet decent enough house. Rent that out for a second source of income. Once enough money is saved, purchase another low priced home and rent that out. Repeat this process till you have enough properties that you wouldn’t need a job anymore.
I was estimating the annual return of renting out a ~$100k home and it comes out to about $8k per year. If you could do five of these that is roughly $40k a year. That’s enough money to live on.
So guys, many of you know more than I do. Is this possible for someone to do?
Edit: $100k isnt a low price everywhere but it is in the state where I live
Submitted March 02, 2022 at 11:26PM by Diarhea_Pony https://ift.tt/G2Ddi08
