What would you consider a great hourly rate of pay? $50 per hour? $100 per hour? How about $1,000 per hour? Would that get you excited enough to actually start your property portfolio? Then read on.
In the scenario in chapter 3, a property was purchased for $250000 and sold 15 years later for $750,000 less expenses leaving $400,000 net profit. The actual time working to achieve this would be as follows:-
20 hours Researching and negotiating purchase.
90 hours 30 minutes per month bookwork for 15 years.
5 hours Negotiating sale.
115 hours Total time spent actually working
$400,000 divided by 115 hours equals $3,478.26 per hour.
That’s right $3,478.26 per hour net after tax and excluding the buying and selling time, you only have to work 30 minutes a month.
