Real Estate has many different pros and cons. First, we will tackle the pros!
The advantages of reality is awesome because you can use other peoples money to
leverage yourself into creating true cash flow.
Think about it.
I dare you to go to the bank and ask them to borrow money to buy
their stock. They will laugh you out of the room!
Now, if you would go to the bank with the right mindset and opportunity to buy a 4-plex
they would listen to you with an open mind.
That my friend is called leverage!
Real Estate is tangible, you can touch it. Therefore, if you mess up the bank can
still sell the property. Ok, another great aspect of owning real estate is being able to pull your money out and buy more real estate.
Example:
I bought my duplex and two trailers for $37,000.00. (the man was in the hospital and ready to get out because he no longer needs the money)
I hired people to work on the property for two years. I painted the property. And in two years it went from $40,000.00 appraisal to $70,000.00 in value.
That my friend is LEVERAGE!
Real Estate Investment Courses are key!
The Cons of Real Estate
After 3 years of being a landlord, I have developed a skin and good intuition for spotting good and bad renters. The key to Real Estate or any business for that matter is to use other people as leverage for your properties.
What I mean by this is leverage of time. I have a handy man, property manager, and a plumber that I can call on at all times. These people are my team. When you
start any business it is not like school and you take the test by yourself.
Business is the oposite, one must build the team to make the best
business possible.
What I am trying to spit out is that YOU do not have to fix the toilets, clean the crap when it clogs, collect the rent, and evict people. You have to build the team of individuals that create more time for you.
Wealth is not just about having a lot of money.
It is about having the most precious gift of life.
More Time!!!!
Time to spend with your kids!
Time to coach your kids!
Time to go to the beach!
Time to go Sking in the Mountains!
Time to go to Paris!
Time to go to Italy!
Time to sit down and do nothing!
TIME! TIME! TIME!
Ok, I might of gotten a little carried away. But, you get my point.
I believe in and I am very passionate about Real Estate.
It has worked for me and it can work for you too!