The Real Estate Investor's Guide to The 4-Hour Work Week by Tim Ferriss
New York Times Bestseller, The 4-Hour Workweek by Tim Ferriss is chock-full of useful information about living a deliberate lifestyle, and allocating time intentionally. This aligns perfectly with real estate investing. As you know, real estate investing is the best way to earn passive income and attain financial freedom.
In the book, there are three key principles that apply specifically to real estate investors:
Don’t exclusively save for retirement, make your money work for you today. Ferriss posits that we should disregard old-fashioned ideals about saving for retirement, and I tend to agree. What good is it to have $40,000 sitting in an account just waiting? A fantastic alternative is to take that money, purchase a cash flowing real estate investment, and create passive income that allows you to live the life you want now.
Have a clear list of priorities. If you haven’t written your goals down, you won’t have any direction. If you listen to my podcast, you’ll know that I’m a huge advocate for writing your goals down, and revisiting them frequently. If you set out to purchase rental real estate, it’s important to know how many properties you’ll need, and why. That’s where the Freedom Cheat Sheet comes in. Its purpose is to help you calculate exactly how many real estate investments are appropriate for your unique situation.
Stop being “busy,” and carve out the life you want today. Align your actions with your goals. Set aside time every day to reaching your Freedom Number. Do meaningful work, not busywork.
For more book reviews, check out our list of the 5 Must-Read Books for Real Estate Investors!