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Financially free is what I want to be!


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Hi, i just sold my first property I bought to renovate and live in 5 years ago, looking to do the same again and invest some money in btl. Started reading a few books on the subject and found this site from reading one of robs books and it looks like i found a good place full of resources and helpfull people :) looking to learn and grow financially and as a person, hopefully in the future I will be able to help people who are in the same position as I currently am.

 

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Hi Don,

 For starters, I love your subject header..."Financially free is what I want to be"! A huge congrats on recently selling your first property. Property investing in BTL is indeed an excellent way to accomplish your goal of being financially free. Are you planning on being your own landlord, or preferring a property that's fully managed by an agent/PM? 

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Fantastic goal. Thats how we started wanting the same. It was on top of the whiteboard "Financial Freedom", so we looked at it daily. I suggest you do the same. 

Be a great landlord and work to keep good tenants. Stay on top of issues and repairs and have a side hustle to allow saving and but more with.

Good luck.

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  • 3 weeks later...

Thanks for the replies everyone!! I'm still working full time so I will be using an agent to manage my first btl property. I want to buy 2 properties with the money I will receive from my sale, one a btl mortgage and a refurbishment project to live in whilst I do the work, then eventually let out so I can crack on with another project :)

I started reading property investment for beginners and have just finished how to survive and thrive in the new world of buy to let. Over the last few months also I read rich dad poor dad and the 7 habits of highly effective people. Does anyone have any recommendations for my next book? 

I'm 30 years old and give myself 10 years to hit my ultimate goal of being financially free, but I'm going to make sure I enjoy myself through the journey of the ups and downs I will face. 

See you guys at the top ☝

 

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Well done for getting started, thats what its all about, taking some action.

There is loads of great learning material out there, who knows where to start first but for what it is worth I am currently reading "RESET: HOW TO RESTART YOUR LIFE AND GET F.U. MONEY: THE UNCONVENTIONAL EARLY RETIREMENT PLAN FOR MIDLIFE CAREERISTS WHO WANT TO BE HAPPY". I am only 20% through it but like a lot of these books it does provoke some thought about what you want out of life and sets some reminders about why many of us (me) are in the rut of employed work to get by. The best line in it so far is the idea of finding your meaning in life by asking yourself what problems you couldn't live without (i.e. devote yourself to these). Not heard that insight before.

I would also recommend The Entrepreneur Revolution.

I think there is a bit of an industry around these types of books and some regurgitation of material but despite this I do tend to get one or two nuggets out of them so what harm can they do? 

Kindle Unlimited gives access to a wide library for £7.99 a month - thats pretty good if you use it. 

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