I'm a 35 yr old guy living at home, single, who is working towards the dream of financial freedom/passive income. I work in corporate and really over it.
Looking for some experience you guys may have who have achieved what I've set out to do…
Own 2 properties, 1 bedroom unit in Sydney (around $550k) and a 3 bedroom town house in Gold Coast (around $570k)
I owe the banks $600k
Therefore my net worth around $500k
Currently unemployed and thinking about my next move
Go into business
- buy a childcare business mainly because I've found it to be quite profitable and I have a good support network around me (close mates) who are in the industry
- buy a cafe. Some cafe's ROI are over 50%, I find this really attractive, however, no experience in this industry nor do I have a close friend who I can draw experience from.
Buy business property, been influenced recently by this Helen Tarrant character who swears by it, it makes sense, obviously there are pitfalls but there is some money to be made here as well. What's attractive to me here is the net yield. Something I've always thought of even before watching Helen.
I understand going into business is not easy and I will need to work hard, and that's fine more than happy to do that when there is light at the end of the tunnel whereas working for someone you can work hard but you'll still be there forever.
I also understand what I've set out to do is not 'easy'. I'm asking what's the easiest ie least risk + highest return