Topic: Becoming Financially Free With Bitcoin - page 6. (Read 952 times)

Very good question.

With $1,200,000 invested in property (in the UK) with a 25% loan to value mortgage, that gives me the ability to purchase properties with a total value of $4,600,000 (slightly less of course due to fees).

Generally when I invest in property, if I invest for example £30,000 in a property (including fees), then I would expect as a minimum of 10% ROI, i.e. £3,000 per year in NET Profit (this is of course after all expenses including maintenance and property management).

Of course, you can only get these ROIs when you are using a mortgage to purchase property with low interest rates, e.g. 3%. So we will see what the interest rates are within the next several years.

But good investments typically net between 20% and 30%, but higher ROIs are possible using the BRRR strategy.

I'm a property investor, so trust me on this

what if your local gangsterment forces you to sell the property to them, below market value via compulsory purchase?



this is increasingly less likely

Bitcoin is financial freedom, because no-one can subvert your possession of it. This means demand will always be high, ensuring a high value. Satoshi was no slouch, y'know

I think it's great to have a long term plan set out prior to any major investment, and to have a goal you are aiming for. You should have a set price at which you want to cash out your bitcoin; too many people during the last bull run got greedy and just kept waiting and waiting for a higher price, and then ended up panic selling on the way down, often at a loss.

Having said that, I'm not sure I follow your numbers there. Even taking your higher growth target of x10, that gives you $1,200,000 to buy property with. A passive income of $120,000 is 10% of your property's (or properties') total value. On top of that you have to factor in taxes, legal fees, administration fees, insurance, maintenance costs, repairs, and so forth. Add all that together, and the monthly rent you are going to have to charge will be way above the going rates.

Everyone has a slightly different method for becoming financially free, based on their personality, skill-sets and appetite for risk.

I haven't come across many other BTC enthusiasts though that are using Bitcoin to become financially free, so I thought it might be interesting to share what I'm doing.

My plan, simply put is:

• Invest a % of my Income into BTC (£100,000 / $120,000) - I have almost completed this step
• Wait for that investment to grow by 5-10x
• Pull out my profit and invest into residential property
• Live off the rental income (passive income will be £100,000 / $120,000 p/a)

That’s if it goes according to the plan I’ve detailed here: https://youtu.be/SiYc6ipKefQ  

Some may perceive my plan as extremely reckless.

I know I could potentially lose everything that I invest, but I’m prepared to take that risk, because in my mind the potential reward outweighs the potential risk.

If Bitcoin goes to 0, then it will be a major setback. It won’t ruin me, but it will take me two years to save up that money again (saving £50k from my £75k post tax income).

If it pays off, my route to financial freedom will be LIGHT YEARS faster than I could ever expect from property, gold, bonds, or investing in the stock market as a whole.

Although I fully understand the risk involved, I don’t see this as a gamble. I truly believe in Bitcoin as a technology. I’m willing to bet on something that I believe will have a positive impact on the world going into the future.

If I’m wrong, I’m wrong. That’s it. Start again.

But if I’m right, my life will change.

That’s really just a brief summary of my investment strategy (there is actually a bit more to it) - I’ve created a video, also linked to above, with a clearer explanation here: https://youtu.be/SiYc6ipKefQ

It would be interesting to hear if anyone is doing anything similar to this, and what peoples' thoughts are.