Fast Track to Financial Freedom

posted in: Call to Action, Defining Ideas | 4

As you may know, I started 2017 with a campaign to find a way in which a regular person could replace their middle-income job ($3,000 per month) with only one rental.

Then. during a mid-year conference call, the Leading Landlord Community clarified that “one rental” meant a fourplex or less.

None of us had a clear idea if any of this was possible, but we loved the idea of empowering a regular Jane/Joe with the ability to walk away from their 9-to-5.

Well, We Did It… Kinda!

I’m happy to announce we, as a community, developed something better than expected… but not 100% within the guidelines.

The solution to fast tracking to financial freedom with only one residential rental is… drum roll please… a business that uses the profits from one short-term rental to fund a second short-term rentals.

Then the profits of two short-terms rentals are saved until they can fund the startup cost of a third short-term rental.

Now I’m not talking about expanding by buying rentals. I’m talking about arbitrage. That’s where you rent a unit, furnishing it, and rent it to someone else as a furnished unit.

By arbitrage, I mean you can rent another landlord’s place, furnish it, and turn it into a short-term rental!

Anyway, if this snowball process continues, the owner of this business will be able to make a $3,000 monthly income within 24 months.

Theoretically, assuming each short-term rental produces a $500 profit and there aren’t any vacancies, it will take less than 24 month to reach the goal!!!

What’s the Opportunity?

So what does this mean? It means you can:

  • Start with one rental and gain your freedom
  • Be successful with this plan in a short amount of time
  • Develop your escape tunnel while holding on to your regular job
  • Have the freedom to retire before you’re 65 years old

Even more, it means that even if you are flat broke, you can follow this new pathway to financial freedom

WARNING: there’s a window of opportunity before this cash flow creation method becomes common place.

Now’s a good time to a foothold while others aren’t aware of the opportunity.

I’m Actually Doing This 

This is such a great opportunity that I’m actually living out a case study.

I’m on my fifth arbitrage in five months and a I’m little ahead of my 24-month schedule. I’ll tell you more about it later.

But for now let me say that I am amazed at the simplicity of the business model and humbled by the courage required to pull it off.

I don’t know if I’d take the risk if I didn’t have the Leading Landlord Community as an accountability partner.

What Should You Do 

I love Zig Ziglar’s saying “If you want to earn more, learn more”.

It accurately depicts that you can’t elevate and sustain your financial status without improving yourself. It’s really a self mastery thing.

And I’m coming to the conclusion that we all need a coach to level up.

So, I’d like you to think deeply about the following three questions:

  • Once you reach your financial freedom, what will your life look like? How will you spend your time?
  • Is your financial freedom worth all the effort and the discomfort that you must exchange to acquire it?
  • If you had enough determination to succeed and had a coach with a winning track record, what are your chances of reaching your financial freedom?

Photo by Ahsan Avi on Unsplash

4 Responses

  1. Jerome Charles

    Al,

    Read this early this morning and have been thinking about it and rereading it all day. One question: does the landlord know that this is what you’re doing w the property or is the owner keep in the dark?

    Thanks.

  2. Yes, everything is done with the owner’s blessing. It’s in there benefit to have someone closely watching and maintaining their property.

  3. How successful are short term rentals? I would have to fully furnish the apartment either using a furniture rental company or buying furniture out right?

  4. Yes, your location is an issue. But, in general, if you have an Extended Stay America in your area then that strongly suggests that you can be successful as a short term rental provider. Now regarding furnishings, my spreadsheet modeling suggests you need to invest $5,000 into furnishings and start up costs so you can get going and prove your business’s viability. Afterwards, if successful, you’ll be able to easily expand.

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