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Brett's 7-10 x 7-10 strategy

Filed by Brett Alegre-Wood on Monday 14th March, 2005 in Buying Property, Buying Off the Plan Property, Emotions and Investing, Politics and Economics, Conveyancing and Solicitors, Corporate News
Brett Alegre-Wood
Chairman, YPC Group

This perhaps the simplest of all strategies. Quite simply it is buy 7-10 properties and keep them for 7-10 years and you will have secured your retirement.

It doesn't mean you'll have a greatly enhanced lifestyle but you will have provided for basic needs during retirement.

Let's take a look at why:

Year 0 - You start owning 10 properties each worth £100,000. So you have £1,000,000 in property. Each of the properties has an 85% mortgage and a cashflow of £400 per month.
Year 10 - Now consider this portfolio had doubled to £2,000,000, you have continued to pay interest only on the mortgages so you still owe £850,000.
By this time the rent should have doubled. In truth we don't know what rents will do, but the odds are good that they will increase well during over 7-10 years.

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The important thing is can it provide for your retirement. To create a £50,000 income you would need to ensure at least a 7% return each year. Assuming 2% inflation rate. For property to double every 10 years it requires a 9% increase at least.

So in short, yes - you can retire on that. But the reality is that you wouldn't just buy 7-10 properties and stop. You would re-mortgage constantly and buy more.

The sky is the limit!

Live with passion,

Brett Wood

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