Linda Pliagas info @ Realty411 . com
Some individuals who do not understand the economics of real estate investing , may falsely assume that landlords only take ( income ) and never give back , which is not true . Responsible housing providers constantly reinvest in their properties to make sure they are maintained properly , kept clean , and they are quick to resolve any issues that may arise .
Many real estate investors wait years to begin to finally recoup the labor and sacrifice that went into buying their own home , investing in a rental property , and even building a portfolio of rental properties . It ' s
certainly not easy to do and yes , it can take years of dedication to see progress , but please know that this does work .
And the sooner you get started , the better you ' ll be . Imagine buying your first home at 24 , soon after college . Then , you save your money and buy a rental by 30 , then another by 35 , maybe a third by 40 . Then , let ' s say you start seeing the power of real estate and you buy five more properties by your mid 40s .
If you do this , which is truly
possible , you ' ll see an amazing early retirement , plus build a legacy portfolio for your loved ones . The wonderful thing about being a real estate investor is you can go as slow or as fast as you wish . It depends on your risk tolerance and goals .
I always advise everyone to please be careful when investing . Start small and build slowly to avoid making big mistakes . One of the best investments you can make is buying your own home and then saving for a rental property . Some wealth builders preach to rent a home and invest all funds in rental properties
from the start . Everyone has to choose their own path ; however , I really like the idea of being mortgagefree as early as possible . Imagine never having to pay a monthly mortgage , it ' s really wonderful not to be tied to that big payment every month year after year .
Having a mortgagefree property is really empowering and I hope that everyone reading this can feel that phenomenal excitement of writing that final check to the bank for your home , your rental property , or vacation home it ' s amazing !
Getting to that stage may seem like such a long way from now , but it ' s not . Trust me , it gets here before you know it .
Imagine having all your properties on 15year mortgages , like so many of my investor friends do . Fifteen years go by in a blink of an eye ... literally ! Those of you who are parents can especially relate to how quickly time can fly by . If you can ' t stomach a 15year mortgage , perhaps make it a habit to make an extra payment every year on your mortgage ( s ) for a faster pay off . Extra payments can make a big difference in the long run .
I hope these suggestions and our REI Wealth Issue # 61 can help you create more abundance for your family by increasing your knowledge of real estate investing .
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Linda Pliagas info @ Realty411 . com
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