Real Estate Investing Will Change Your Life
Have you ever wondered why the rich keep getting richer? What got them there in the first place? Well, the most common answer is "real estate." How? Real estate is at the base of every business and is the creator of massive wealth. Don't believe me? McDonald's primary income is from its real estate. Haven't you noticed they are located in PRIME locations? How much rental income do you think that location generates?
The thing is though, real isn't only for the "big dogs" it's for everyone. It doesn't have to be a prime location on the Las Vegas Strip or by Times Square, it can be the house down the street in your local neighborhood. Each property you own creates multiple opportunities.
1. You receive rental income from the tenants.
2. The tenants now have a home to live in and enjoy their lives
3. You receive multiple opportunities on your taxes to save thousands
4. Your community is better because there is one less vacant property and one more family
bringing business to your town.
It's important to mention that there is no right way to invest in real estate. As individuals, we all have our own personal goals and risk tolerances. While one person might be comfortable with multiple mortgages and wants to own 100 units, you might be more comfortable with no mortgages and 5 units. Each of us can find success in our own way with real estate.
Real estate is not a get-rich-quick scheme. While there are ways to make a faster buck (flipping or wholesaling) to create wealth that lasts a lifetime (or more) it requires intentional strategy. It also requires clarity on what your goals are. I mentioned there is no wrong way to invest in real estate - it is better to have a clear strategy so you are not throwing darts at a dart board hoping something hits.
Real estate can diversify your income creating more stability in your income but also allowing you to generate income from several different places. If you want to take advantage of the tax codes, real estate is one of the best ways to do that. Investors are privy to many more options to pay less in taxes than a W-2 employee. Who do you think created those rules?
If you want a way to create wealth to last your lifetime and pass it on to others, then real estate is the best option for you.
Amelia Misenheimer
Amelia has been investing in real estate since 2010. She previously owned and ran a Real Estate Brokerage and a Property Management Firm managing over 450 units. She now continues to grow her personal real estate investments while working with successful individuals offering consulting services building boutique investment strategies.
