What financial benefits will I have when my property is paid off?

We answer these and many other questions in our video blog editions.

Here is the transcript of episode 22 to read:

If the property is paid off, then you have monthly rental income, just as if the property is not paid off, only that then nothing more flows to the bank, but completely to your account. Example: If a cold rent is 750 € and you have three or four properties, then three or four tenants pay off the property for you. As soon as the tenants who have then paid, for example at 55 or in your 60th year, then you have seven years before the normal start of retirement already every month from three or four apartments 750 € rental income, so 3,000 € additional income.

And that could give you the freedom to simply stop working a few years earlier and only do what you enjoy. This is also a dream of many people. And if you think about it, who manages to do only what he or she enjoys well before the normal retirement date? So to sleep as long as you want and not as soon as the alarm clock rings and to spend the whole day only with hobbies.

Then you'll always find, it's the people who are very, very wealthy and almost always those are people who also have investment property, passive income and real estate income. Because that's one of the best benefits: That you can just do what you want so you can stop working sooner. So clearly, when the property is paid for, you have monthly income and the income should usually increase.

Keywords:
Investment real estate, Retire early, Paid off property, Rent increase, Passive income, Rental income, Wealthy people.