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It has been a long time coming, but I can finally say that this is the best time during my 22 year career to create wealth in real estate.
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19 Comments on Case Study: One Way To Create Wealth Today In Real Estate
Joe: Great Info for all of us, keep up the good work and good luck with your business, E
Thank you Ed and Tracy. I think this is a great way to start a portfolio for young buyers.
Joe, An easy outline, to follow and I believe a way to get your feet wet assuming your risk factor can be tolerated. That is the biggest thing to get over, making money wit property has always been there.
I agree Winston. That's why a four unit building in a smart rental area makes a good starter.
Even if the bottom fell out of the rental market (seems unlikely), the buyer would essentially be living for free. Then when the note is paid off, BOOM there's your retirement nest egg!
I'll bet a lot of people don't think about this sort of potential, which is a shame. This is a better way to grow wealth than the stock market or any other conventional investment. Plus it pays off right away.
FEATURED IN BANANATUDE
That's the plan Doug. Most young people could jump back into the market in a year or so and have all four units rented.
Amen Bryan. So many people gamble with their money in the stock market when they could invest locally in something they know.
Great post.
Bottom line, prices are down, interest rates are low, now is the BEST time to buy!
Joe, your analysis makes perfect sense. Buyers who are willing to take the risk will definitely create wealth in real estate.
Definitely bookmarked this one! :) What a great post. Thanks for sharing this information that makes so much sense when explained like you did.
Joe,
Well done! Combine this with the fact that new quantitative easing will deflate our $$, hard assests like real estate could be another reason to go in this direction.
I believe and am ready to buy more!
All the best, Michelle
Joe, excellent explanation. This could be very rewarding for those that took care of their credit scores in these times. Living rent free while paying down the principal is definitely creating wealth.
When this buyer moves out he can increase the cash flow even more by renting out the unit he was living in. Great strategy presented!
One of my colleagues, in my previous job, did just this ….. about 15 years ago …… now she is set-up very well, financially!
Very well put together Joe. Thanks for the post. There's many ways to make money with real estate & many need to see the potential.
Great comparison. A young person willing to take this on could really build wealth.
I have few regrets, but one is that I did not receive this advice when I bought my first home. Kudos to you for writing this post. I hope many first-time buyers take your suggestion to heart.
Joe, ditto what Kathryn said. Would that our first home had been such a place. However, finding such a place 'in a nice area' - now that is a challenge in our city. In Tallahassee maybe not so much, since you have the university with student housing demands. There it would be brilliant because you will always have a clientele, year in and year out.
Sharon