Brett's 7-10 x 7-10 strategy
Brett Alegre-WoodChairman, 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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