In this video we explain how we paid off our rental properties and our 8 year journey to financial independence. A lot of people think we received an inheritance or cheated the system, but the truth is that we worked hard, lived below our means, and sacrificed for a long time in order to accomplish what we did.
Our investing strategies are a bit unconventional. A typical real estate investor would utilize debt and leverage to purchase as many rental properties as possible. This method will make you the highest ROI(return on investment) over time through cashflow and appreciation. We used mortgages and debt to grow our real estate portfolio, but after a while we got tired of the stress of owning so many properties and having to make the mortgage payments. We decided to sell a majority of the properties to use the equity we had gained from appreciation to pay down the debt on the remaining properties. The analogy I give in the video explains this in more detail.
We chose to do this because we wanted to pursue different things(like Youtube) and didn't want to have the stress of the debt. All our our income sources vary greatly from month to month, so it didn't make sense personally for us to take on the risk of a bunch of mortgages.
We hope this video inspires you and encourages you in your journey to financial independence! You can do it! You can accomplish a lot over a long period of time if you stay focused and work hard.
