I was with some people whom I hadn't seen in almost 6 years last night whom stopped by our house with my Aunt and Uncle whom they were visiting.
The topic as always quickly switched to investing in real estate as they knew I owned a bunch of properties.
They told me how there son wants to take the next
step with investing in real estate, as currently he owns a small property that he had purchased couple years ago, and could just afford, and to put some extra money in his pockets, as most of his paycheck went towards his property, he AirBnb'd his 2nd bedroom out, that he never used.
His parents then told me that the income from renting the room out alone is covering his mortgage, and he can easily afford the home now.
As well, he's paying down his debt quicker, building up equity.
They asked what should be his next steps if he wanted to start investing in real estate.
My response first was "great job", as most people would take the extra income and spend it!
My next response was there are so many different ways to invest in real estate.
Buying a property and renting it out, holding it for the long term, while the tenant pays down the mortgage and the property slowly appreciates.
Buying a student rental property for your child who’s about to go to college so you don’t throw away 4 years of rent.
Buying a property that needs work, whether its residential, multi-unit or commercial, and renovating it, renting it out, and then refinancing it and holding it for the long term; BRRR.
Buying a commercial property with stable long-term tenants and holding it long term.
Buying an industrial property with a stable long-term tenant and holding it long term.
Buying a property then applying the Rent to Own method, whereby a tenant rents and you have a contract in place for them to buy the property from you after so many years.
Buying a piece of land to hold until it appreciates and build on it or develop it or sell it.
Buying land and severing it into parts and sell each individual part for a profit
Buying a multi-unit property with more then one unit under one roof and holding it long term.
Buying a property and assigning the property to someone for a profit; wholesaling.
Buying a property and converting the basement into an in-law suite you can rent out.
Each way to invest in real estate is great to start building a secure financial future, where you can retire, and afford retirement, hopefully early too!
Venturing into real estate isn't easy, and to run a successful real estate investing business, you need to have a plan, an infrastructure.
If you watch my upcoming webinar, you learn these things, and more, to help get you started in investing in real estate, the right way, from the beginning, so you don't make all the mistakes I did when I started.
This is the kick in the butt you have been looking for, don't wait!