I love this quote by Robert Kiyosaki….because it’s so true.
Now, as property investors ‘expenses are the enemy’.
So, we want to negotiate hard on our loan interest rates, and get the best tax advice we can, and live simply etc.
Don’t buy doo-dads on credit!
However, it’s far for more fruitful to focus on elevating your income.
Why? Because let’s say you earn $80,000 a year.
If you’ve got a family and you live in a capital city….even if you live like Church mice, the most you might be able to save is $20,000 a year.
However, how much income can you potentially add if you have the right specialised, income-producing skills and take action.
The skies the limit!
Matt and Andrew from inner city Sydney are a great example.
Matt’s a graduate architect – he got a healthy raise at work following Todd’s advice.
Meanwhile his partner Andrew was a store manager. He now manages his own store…so he got a raise too.
The net result =- they went from ABOUT $80,000 family income to about $120,000 a year combined income.
And, this allowed them to go ahead and secure their first investment property.