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Achieve financial freedom. your complete guideAchieve financial freedom their. date. Good deals can be anywhere, says Roggow, although she’s found that if you’re experienced enough to accurately estimate your costs and your rental income potential, auctions are a good option. “Last summer, I went to an auction to buy a Waterford vase. I ended up buying the home for $82,000, refinishing the floors, and painting it. Within a month, it was worth $95,000. One year later, it was worth $100,000,” she says. “And I got the Waterford vase for $12.” If you’re planning to buy at auction, check the wiring and the plumbing—the two most costly items to replace, she says. Freedom for family At 40, Don Magalhaes is also planning for retirement. But his current definition of financial freedom is having the time in his busy, $12-million-a-year sales career to watch his kids grow up. To do it, he says, he had to get out of his comfort zone. “Five years ago, I was grossing $250,000 in commissions and had even bought a couple of homes and fixed them up and sold them,” says Magalhaes, an associate with RE MAX Accord in San Ramon, Calif. “But every time Jan. 1 rolled around, I was disappointed.” Although Magalhaes was always in the top 5 percent of salespeople in his company, he wasn’t accumulating wealth. “That prevented me from taking the next step toward spending less time working and more time enjoying life.” Today, Magalhaes spends one-third of his work day buying and selling real estate for himself and the other two-thirds selling homes to clients. In the last year, he’s bought and resold more than $2.5 million in property for his own![]() |
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