How to Achieve Financial Independence and Retire Early Starting with Nothing But Grit and Tenacity – 2020 Edition

In this special, 2 hour and 3 minute class recording James walks us through part 4 of the quadrilogy on financial independence.

In this episode, James covers how to achieve financial independence and retire early (FIRE) on minimum wage in Colorado, $12 per hour.

  • Jassen's article on Yes, You CAN Get Ahead in America On $10 Per Hour
  • The $3K, $5K, FILYP and $12 quadrilogy
  • How it is easier to reach financial independence with a lower standard of living (minimum wage)
  • Phases on Financial Independence™
  • Assumptions for the model – use the button below to copy the Scenario to your own planner to drill down into the assumptions or make changes to the assumptions to better suit your personal situation.
  • Some charts on sold price per bedroom in Northern Colorado
  • Some charts of sold price broken out by bedroom in Northern Colorado (slightly different view)
  • Charts showing that you can buy properties with more bedrooms well below the average price (which is great for house hacking with roommates)
  • Getting a consigner could significantly improve your ability to implement this model, but we did not do that for the class
  • A discussion on debt-to-income ratios
  • The need to document your hard work to ensure you're able to qualify for your loans
  • Two charts showing the max mortgage you can qualify for at minimum wage
Max Mortgage Based on Number of Hours Worked at Minimum Wage
Max Mortgage Based on Number of Hours Worked at Minimum Wage
  • A discussion on how many houses at this price are available each year in Northern Colorado
  • A whole bunch of charts from the Real Estate Financial Planner™ software where I explain exactly what is happening in the entire plan
  • And finally, a summary of how to improve on the model
True Cash Flow™
True Cash Flow™

If you want to copy this Scenario to your planner to change the assumptions or drill down into more details and charts use the button below:

Login to copy this Scenario. New? Register For Free

Copy  Scenario into my Real Estate Financial Planner™ Software

Baseline with 2  Accounts, 1 Property, 3 Rules,
Or, read the detailed, computer-generated, narrated  Blueprint.

This is the very first time he has taught this class and it was taught on February 19, 2020.

For other Financial Independence with Real Estate Classes, check out these:

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