A large part of financial freedom is to make your heart and mind free of worries about how-life in life. -Suze Orman
For the majority of novice investors, the main objective of investing is to achieve financial freedom.
Financial freedomAis essentialAto enjoy a happier, richer lifeAin our adult lives. In addition, thisAshould be your goal as a beginner investor.
What is Financial Freedom?
The bestAdefinition ofAthe subject I ever heardAisAthe number of days you canAlive without working andAmaintain your present standard of living. Legendary inventor Buckminster R. Fuller coined this definition.
The Great Money Mountains
There are three mountains of big money that you can use to get rich: real estate, the stock market, and the marketing mountain. TheseAthree are the proven paths to wealth. Majority of individuals that make theAForbes rich list, have achieved their wealth through either one or aAcombination of these money mountains.
How to A Approach Investing in Real estate
The ownership of property has been a provenAwealth producing Money Mountains for centuries. You should make owning income producing properties as part of your long-term wealth creationA strategy. There are tons of books written on techniques and strategies for investing in real estate. The most important thing you need to know is how to leverage the real estate mountain to accomplish your goals.
Three factors are critical to success in real estate investing:
Finding. For you to become a successful investor you need to know how to find bargain properties…properties below market value that will pay for themselves and bring you profits. SuccessfulA investors know thatA profit comes from buying rightAnot when you sell.
Funding. You also need to know how to fund your property offer. There are many ways to fund deals, your ability to get financing is the key to buying bargain properties. The good news is you canA easily get financing if you know where to find the money. Money follow good make sure you become good at finding good property deals
Farming it. The other critical skill you need to succeed as a real estate investor is to know how to reap profits fromA deals. You may decide to hold on to properties you find because they have good cash flow that deliversAincome to your bank account. Moreover, you could also flipApropertiesAfor profit. The actions you take depend, on the investing cycle you find yourselfAand your core investment philosophy.
Real estate is a powerful wealth-building vehicle you must consider as a beginner investor.A TheAwealth created fromA investing in properties tends to be stable and less volatile compared to the stock market.A You can also predict the cyclesAwith ease compared to the other types of wealth building vehicles.
Leverage is also a big advantage of investing in real estate, because you can buy properties with little or no money down.
There are thousands of properties for sale in your city. When you have these three critical skills to success, you can weed out badAproperty deals, hone down to find bargain properties, fund the …Read more