"What if one simple number could tell you exactly how many rentals you need to walk away from for your nine to five, and when that day could be circled on your calendar? Tony: We're about to play the Rookie Freedom Number game and by the end of this episode you'll know your personal freedom number and the property roadmap to hit it step by step."
"So one of the things that you'll start to notice as your portfolio grows is that your equity starts to grow as well. And different investors have different plans, ideas, beliefs when it comes to equity, some want to leverage it, some want to protect it, and it's a very personal choice that every investor will have to make for themselves. But equity is capital that can be used to help you keep growing your portfolio if you choose to do it that way."
A seven-step journey defines a freedom number representing the rental income and property roadmap required to replace a nine-to-five income. Portfolio growth increases equity, and investors can choose to leverage or protect that equity according to personal goals. Equity functions as capital that can accelerate portfolio scaling toward the freedom number. The first actionable step is defining a baseline: the monthly amount required to sustain housing, food, transportation, insurance, and other essential living costs. Accurate baseline calculation requires reviewing bank and credit card statements rather than relying on rough estimates, as actual spending often surprises newcomers.
Read at www.biggerpockets.com
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