If you have read “The 7 Easy Steps to Mortgage Freedom” and my discussion of property investment, the question you probably have at this point is: “Will this work in the future or did he just get lucky with rising property prices?”

My answer is yes! I’m confident it will work into the future, here’s why.

At that time I was paying interest rates as high as 8.25%. So on an interest only loan that is as much as double the cost to hold those properties as it would be at the time I’m writing this. So it cost me twice as much to own the same investment property.

I ended up with a home that was double the median house price of that time. This was relative to my income as my business started to grow, just as the home you end up owning will be relative to your income.

Slow property growth usually results from slower national economic activity, which in turn means lower interest rates. Similarly when property growth is rapid, interest rates are likely to be higher.

Something people are often concerned about is the likelihood of another credit crisis such as occurred in 2008. Personally I owned a lot of property throughout this period and the rapidly falling interest rates, and the fact I owned sensible, entry level homes as investment properties allowed me go through this period unscathed.

I know my properties have all increased more in value since then and I have no intention of selling any, because I consider them valuable investments that guarantee my financial future.

But whether it is been fast or slow, in the long run it has always risen, so I’d prefer to have the wind at my back even if it is only blowing softly for a while.

I’m not saying everyone can or should try and be mortgage free in seven years – or I would have titled our book “Everyone can be Mortgage Free in 7 Years Just Like Me!”

What I will say is that you can definitely implement some or all of the seven steps at your own pace and you will definitely be mortgage free faster than if you don’t do any of them.