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Retire on Real Estate by Amanda Han, K. Kai Anderson

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5

THE PRIMARY AND ULTIMATE GOALS

Setting the Goal That Is Right for You

THE ULTIMATE GOAL

The Ultimate Goal is to pay off your mortgage(s) so that the income from your property or properties can become your monthly living income. Property that is not tethered to a mortgage—that you own free and clear—is all yours. The bank can’t take it back, because the bank no longer co-owns it with you. Monthly cash flow is maximized, because you will no longer have to pay the principal and interest, the largest of your property expenses (although, of course, you will need to continue paying taxes and insurance and budgeting for capital expenses). As you will see in Figure 5.1 later in this chapter, once you are liberated from your mortgage payment, the income ...

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