Getting my parents to financial freedom
I am on a path to get my mom and dad to financial freedom and more time away from there current business. They are entrepreneurs and work 11 hours a day for 6 days a week.(For the past 20 years) They have a rental property worth $300,000 paid off, a business, and there current home. My plan is to get a Home equity line of credit out of the 300k home and get roughly 200k to invest into a million dollar property. Please give me advice on how to get my parents to financial freedom faster so they can spend less time at there business. What I am finding is that the million dollar properties will not cashflow much after mortgage and expenses are paid. Is the objective to start with a property and leverage to buy more and more until they have enough cashflow to live off of it?