Ive just been looking at the number of Somersoft Members -
Members: 5,206, Active Members: 868
And I was wondering out all those members just exactly how many & "Who's Made it" to financial independence with the majortiy of their passive incomes generated from property?
Please Note and beware that the questions contained in this thread may be very confronting and specific to some people. Only reply if you are prepared to share your story by answering the following specific questions......otherwise dont.
For those who "Have Made it" -
1/ How much annual net passive income was your goal when you first attained financial independence?
2/ How much net passive income do you currently generate annually?
3/ How many years did it take you to generate enough passive income to provide you financial independence?
4/ What property investment strategy/s did you utilise to attain independence and did you add any additonal strategy/s after you attain it?
For those of you who have Not made it but are planning & working towards financial independence -
1/ How much annual net passive income do you need to attain it?
2/ What date or year have you set yourself for achieving it ?
3/ How much net passive income do you currently create annually?
4/ What property investment strategy/s do you currently utilise now and are you planning on adding any new ones after you attain independence?
Me, I'm not there as yet but I'm planning on it. My goal of financial independence will be achieved when I reach $175k net per annum which is equivilent to $300k gross without having to get out of bed each morning and head off to the rat race. I plan to attain this in 2010. Currently im passively generating the equivilent of around $110k net annually.
The strategy im currently utilising is what I call "Capital Growth Averaging (CGA)" which is a specifically structured buy & hold strategy with a few twists - after 2010 Im planning to add residential developments to my current Buy & Holds.
The aim of this thread is to illustrate real life examples of aspiration to provide us all inspiration. For those of you who have shown the courage to post I'd like to Thank you in advance for sharing your story.
Members: 5,206, Active Members: 868
And I was wondering out all those members just exactly how many & "Who's Made it" to financial independence with the majortiy of their passive incomes generated from property?
Please Note and beware that the questions contained in this thread may be very confronting and specific to some people. Only reply if you are prepared to share your story by answering the following specific questions......otherwise dont.
For those who "Have Made it" -
1/ How much annual net passive income was your goal when you first attained financial independence?
2/ How much net passive income do you currently generate annually?
3/ How many years did it take you to generate enough passive income to provide you financial independence?
4/ What property investment strategy/s did you utilise to attain independence and did you add any additonal strategy/s after you attain it?
For those of you who have Not made it but are planning & working towards financial independence -
1/ How much annual net passive income do you need to attain it?
2/ What date or year have you set yourself for achieving it ?
3/ How much net passive income do you currently create annually?
4/ What property investment strategy/s do you currently utilise now and are you planning on adding any new ones after you attain independence?
Me, I'm not there as yet but I'm planning on it. My goal of financial independence will be achieved when I reach $175k net per annum which is equivilent to $300k gross without having to get out of bed each morning and head off to the rat race. I plan to attain this in 2010. Currently im passively generating the equivilent of around $110k net annually.
The strategy im currently utilising is what I call "Capital Growth Averaging (CGA)" which is a specifically structured buy & hold strategy with a few twists - after 2010 Im planning to add residential developments to my current Buy & Holds.
The aim of this thread is to illustrate real life examples of aspiration to provide us all inspiration. For those of you who have shown the courage to post I'd like to Thank you in advance for sharing your story.
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