Can I ask you 2 questions:
- how much do you want?
- and by when?
If you do not know then shame on you! Get to know it. You should be eat, breathe and sleeping the answer to these two questions.
Let us just say you are an ambitious kind of person and you earn £5,000 per month and you want to earn twice your salary in 5 years from property investment.
Then working backwards you would have to build:
£10,000 per month divided by 60 months = £166 per month income every month.
i.e. you would have to build a recurring income of £166 every month for the next 60 months.
Now lets say you could find a property that delivered £166 profit every month then you would need to buy one of these every month for the next 5 years and you could retire on target.
If you halved your retirement target from £10,000 to £5,000 and doubled your impatience you could retire 15 months. Now that is a thought.
So working out what you have to do to get to your target is very key. In the above example you can see how easy it is to set the target (one property every month) and monitor it.
So I ask you again: How much and by when?
I hope you know the answer now. If you ever meet me make sure you ask me and I will tell you as it is second nature to me.