Staying With Your Parents Pays Great (Condotel Investment)
Clint from Brisbane, Australia was 18 when he started working part time job in his dad’s business while studying mechanical engineer. He is earning $15,000 a year. Let’s see the intelligent moves he made.
He lived with his parents until he’s 35, the very age when he reached an early retirement. Living with your parents wouldn’t be easy when most youths wanted to get out of their parent’s home as soon as possible. Most of his friends moved to their rented apartments and lived by their own before their age of 20. His friends wanted FREEDOM.
Their solution – get out from their parents’ home.
Not with Clint. He saw a bigger picture!
A smart move he made at the age of 20. He purchased two Condo Hotel (condotel) units. He arranged to pay the mortgage $800 monthly. But from this investment, he is receiving $400 net from the dividends. He adds this amount to his monthly mortgage payment.
By the time he graduated at 24, he was able to pay out his mortgage. With the $1200 money to spare, he purchased another two condotel units. This move made him another $400 monthly from the dividends. He accelerated the payment using the $1200 plus the $400 earnings. He was able to pay out his mortgage in three years. Doing the same process over and over, by the time he reached 35, decided to retire.
While he is enjoying his retirement at the age of 35, his friends are still struggling to find their jobs. He can enjoy the rest of his life from the efforts he made during his early age while his friends are still trying to figure out how to find the FREEDOM they seek when they left the home of their parents.
How was he able to retire that early? Staying with his parents as long as he can allows him to save all of his paycheck from his job. This savings he made it to work for him by investing into condotels. Now, the dividends from his investments are paying comfortably the lifestyle he chose to live.