LINDA ' S LETTER
By Linda Pliagas Publisher / Editor
Photo by John De Cindis
Welcome to Our New REI Wealth Edition !
Dear Friends of REI Wealth ;
Thanks for joining us for another edition of our latest REI Wealth magazine . It ' s a pleasure to continue to publish a title that was started 13 years ago by an investor and engineer from San Diego , Calif . He asked us to help him in continuing to produce it during a time when he was experiencing some family health issues .
Since then , we ' ve helped produce the publication , which has a mission of spreading realestate knowledge and insight to as many people as possible . On the cover of this month ' s issue , we are spotlighting our new inperson event , Sail to Success , being hosted on Saturday , February 22nd , 2025 at the Shoreline Yacht Club in Long Beach , California .
The venue offers outstanding views of the surrounding dock and we are excited to host our readers for a wonderful day of education , networking plus delicious food and cocktails . For this special event we will feature insight from experienced investors from around the nation don ' t miss it .
As I ' m writing this article , we turn the page on another year , it ' s amazing how quickly time passes . Savvy investors know that time is our most valuable asset so therefore we must be careful with how we spend it .
How are you using your time ? We hope it ' s the most valuable way that you can to make your goals materialize . Speaking of goals , it is our intent that we help you make
your real estate dreams a reality , so I ' d like to share some ideas that have helped my family and I reach our goal of purchasing properties for profit and cash flow .
HONEST FINANCIAL REVIEW
With the start of a new year , now is the perfect time to review your finances and get ready for tax season . How did things go last year ? Is your business thriving ? Are you getting ahead in your vocation and able to save money to invest in your future ? What are some areas of your finances that need improvement ? Are you carrying highinterest debt ? Are you holding on to a property that is a money pit and doesn ' t seem to improve ?
The numbers are right there for you to analyze and make honest assessments . Before we can move forward to a new improved chapter of life , we need to review any financial mistakes that were made . If we don ' t reflect , the same mistakes will be made again and again costing us more money and holding us back even further .
Why did I add the word " honest " before financial review ? Because many of us don ' t want to face our financial reality . We tend to bury our head in the sand when it comes time to money ... until it ' s too late . Even investors can fall into the bad habit of not regularly reviewing finances to make sure personal and business goals are going in the right direction .
Remember , we are allowed one free credit report every year check it . I am able to access a free credit report with my Discover credit card annually , but you can also visit this website : https :// www . annualcreditreport . com
Be sure to review your mortgages every year to make sure the terms still fit your financial needs and are the lowest interest rate available . Sometimes we need to work on our credit score , improve it to a certain number , and then refinance .
WRITE DOWN GOALS
It ' s important to have goals for the year , both personal and professional . Please do yourself a favor and write them down to really reflect on each one . What are your oneyear goals , fiveyear goals , and tenyear goals ?
Do you want to rehab properties this year for quicker sums of shortterm profit instead of simply holding rentals for longterm gain ? Or maybe you ' ve flipped numerous properties already , but you don ' t own any longterm assets yet ? I have met two realestate investors recently who were in precisely both of these spots in their lives .
Maybe your goal is to jump into another realestate class altogether like multifamily . I ' ve met investors throughout the years , who have sold all of their singlefamily assets with a goal to invest solely in apartment buildings . Whatever your goals are , be sure to right them down and then figure out how to get there .
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