How much space do you need to live comfortably? If you ask the average Australian this question, they’ll likely give you the wrong answer.
Why? Because we’ve gotten used to living in huge homes. We have some of the biggest houses in the world, many of which remain largely unoccupied. Millions of rooms just sit there empty, even as millions of people don’t have a place to live.
It’s not until you start downsizing that you realise just how little space you actually need and use. It’s not about having a big home but rather one that ensures you get the most out of every square meter.
This is the idea behind my 60/30 model. In essence, it’s about designing a home that has 90sqm and only using a third of it for yourself. The remaining 60sqm can be all you need to start your property investment journey.
Let’s face it – if you live alone, there’s really no need for you to have more than 30sqm. This might not sound like a lot, but try it and you’ll realise it’s all you need. That’s if you put the space to good use and focus your energy on the more important things in life.
What you should do is take the other 60sqm of area and rent it out. This way, you can get most if not all your money back. As time passes by, you pay off more and more of your loan. You find a partner and need more space. When this happens, you move to the 60sqm area and rent out the 30sqm one to a single person.
You now have more comfort, and you’ll still be making money that you can use to repay the loan. What about if you bring a kid into the world?
It’s simple – the tenant goes out and the baby goes in. By then, hopefully you’ve paid a significant chunk off your mortgage and perhaps even got into your next property deal. You now have all the space you need, and you can keep growing your income by using other High Income Real Estate Systems, similar to the 60/30 model, to start growing your investment portfolio.
As you can see, everybody wins here. And it’s only one of the many strategies that I can show you. Sign up for my free masterclass to learn more.