I had to talk about this:
Sorry I don’t mean to burst mine and your bubble, It’s because some real estate podcasters or guru’s say that real estate investing is the best and fastest way to wealth.
Please I’m not saying don’t invest in real estate, just be careful who and what you are dealing with.
It’s the same with the stock market, do you have a 401k? and haven’t you seen it go up and down?
But have the guru’s told you of what can happen? let’s remember we do deal with people, and sometimes they can make our dream a nightmare, let me explain more, see the bullet points.
Just some of the headaches we must deal with:
- We rely on payments from them
- We hope they maintain the home
- We hope when they move out, the house is intact
- They don’t pay, now the fun part starts- evicting
But I’ll mention some of the pluses of investing:
- Positive cash flow
- Possible appreciation of your property
- Someone else is paying down your mortgage
- Tax incentives (Check W/Your advisor)
- Hiring a handyman to handle the repairs.
- Buy at a discount and sell it for a profit.
And like I said before, I don’t want to discourage you, it’s like anything we do in life, there are risks, as long as you are prepared, and that means having the right professional with you and most of all having the reserves for that rainy day.
Please see below for some recommendations, and be aware that I’m not affiliated with any of these companies.
Resources: Please do your due diligence, Work with a professional.
You can find me at:
- Youtube Channel
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