How many properties do you need to live off UK?

How on earth can you do that? Well, in the UK, the average person earns less than 30,000 pounds a year. You might earn more, but that's the average person. For the average person, three properties could be more than enough to completely replace their income.

propertyinvestorsnetwork.co.uk - How to Replace Your Income With 3 Rental Properties

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How HMO Property Investing Can Replace Your Income

I know that when people think about investing in property, there's a lot to think about. What happens if this goes wrong? I completely understand that. But very often, you'll find that, when you actually take action and get a property, all those things you were worried about were just fears in your head. Some of them are genuine concerns, but most things that people worry about never actually happen and never go wrong. I learned the hard way through trial and terror, making mistakes myself. But the good news is you don't have to do that. There's so much information available for you online for free that actually, you can learn how to do this and avoid the expensive mistakes that I made and that most people make. If really want to speed up your learning, people like myself, we have training to help you. We give you all the information in one concise go, which is better than spending hours and hours trying to work it out for yourself. But, if you want to work it out for yourself, I've got loads of videos you can watch that will help you do that. If you get a few of these cash machines which generates money for you every month, then you can replace your income. At the beginning of the blog, I said it's possible with just three properties. How on earth can you do that? Well, in the UK, the average person earns less than 30,000 pounds a year. You might earn more, but that's the average person. For the average person, three properties could be more than enough to completely replace their income. So how does that work? If you buy a property, it might be a house or an apartment and you rent it out to someone, normally you rent it out on a single AST contract, an Assured Short-Term Tenancy. It's a six to 12 month contract. The tenants pay the bills and cover the Council Tax. You pay the mortgage, the insurance, and you might have someone managing it for you. I started managing properties myself because it doesn't take a lot of time when you know what you're doing. However, I realised as I got more and more properties, I was spending more time managing and less time buying. You make the money when you buy the property instead of managing the property. So I took the step to get someone else to manage my properties for me. Although I took a slight dip in income at that point, because some of the rental profit I was giving to someone to manage for me, I suddenly had all the time available to do exactly what I wanted. That is then the really powerful, true financial freedom. If you don't have to work anymore, then you spend your time doing what you want to do. The problem is if you rent out houses or apartments on a single contract, you might make 100 pounds, maybe 200 pounds, or really good Buy-to-Let property, you might make 300 pounds profit, but that's unusual. Most properties are 100 or 200 pounds profit. Therefore, you're going to need 15 to 20 properties to pretty much replace your income for the average person. That's a lot of properties to buy. That's a lot to think about. That's a lot to fund. You might think that's never going to be possible. Yet if instead of doing single-let properties, you happen do these HMOs, instead of making 100 or 200 pounds profit a month -you should be making at least 1,000 pound profit per property per month. Therefore, if you had three properties, three HMOs, that will be 3,000 pound profit per month. Getting three properties is far more achievable and far more believable than maybe thinking you have to get 15 properties. Many of my students have replaced their income in as little as a year using this strategy.

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So this can be a life-changer for you. Imagine, what would it be like for you if a year from now, actually, you didn't have to work? How would you feel? How would your family feel? What would life be like for you if you could choose how you spend your time? You might love what you do and you just want to get property as a safety net in case, for some reason, you can't work. Maybe you hate what you do and you're desperate to do something else. Maybe you've always wanted to set up a business, but you've never been able to do that because you've got to cover the basic bills. Or maybe you want to set up a charity or work in the community and you want to give your time to help society, but you can't do that because you've got to look after your bills. There's a great saying by one of my mentors, a guy called Bob Proctor. He said, "If you want to help the poor, make sure you're not one of them." So if you put income in place to make sure all of your bases are covered, you've then got resources, time, money, you can help other people.

propertyinvestorsnetwork.co.uk - How to Replace Your Income With 3 Rental Properties