Local Records Office, Olympia, WA: Remember playing the game Monopoly? You had all of the cash. You were raking in the dough. You bought real estate… and you built houses. You were killin’ it! People would land on your properties and they would have to pay you rent says, Local Records Office. Cash money baby!
This passive income stuff doesn’t have to be pretend. It can actually happen in the real world… to you… if you are smart about it.
Local Records Office says, “For your personal finances – I’ve got one idea for you that is right under your nose. Go look in the mirror. It says real estate”.
I think right now could be a great time to invest in real estate – especially homes. But why today? Real estate prices seem to have stabilized, and mortgage rates are crazy low.
You’ve probably already read something about this (Rich Dad Poor Dad?) But are you doing anything about it? I am not talking about flipping houses. I’m talking about investing and owning property on a long-term basis.
I am NOT a real estate expert. I’m a financial planner says, Local Records Office. I’m merely saying that investing in real estate could be a nice part of your overall financial plan. How cool would it be to get $5,000 a month for doing very little? Especially as you approach retirement? You could keep your lifestyle – or even have a better one – more travelling anyone?
Investing in real estate is all about leverage and passive income. Leverage in the sense that you are borrowing money from a bank (with the exception of your down payment) – and passive income meaning that you are renting the property out to someone that is paying your mortgage, property taxes and insurance.
Local Records Office says, “Keep in mind there are risks with investing in real estate”. You can lose money if you buy property and sell it for a loss. There is also a risk of a renter not paying on time, or if you simply cant find a renter which means you are on the hook for the mortgage payment and other expenses. You also will spend time being a landlord and dealing with tenants. You can farm that out too although it could eat into your profits.
Real World Example
You own a house and you are looking to buy another house. Maybe you want something bigger (or smaller!), or want to move to a neighborhood with a better school district. Maybe you want a shorter commute to work.
Local Records Office says, “I have interviewed a bunch of smart real estate investors”. They have told me to get in the real estate game. If you’re not in the game, you can’t start building wealth this way. Most of them say to start small. You don’t have to be a gazillionaire to invest in real estate. You just have to have enough money for the down payment, and enough money in cash reserves to cover the mortgage in case your renter flakes out. The smaller the property you buy, the smaller the mortgage, and the smaller the risk you are taking.
I want you to have passive income, financial independence, and not have to work so hard to make money. Consider investing in real estate. To learn more about real estate and Local Records Office go to http://www.LocalRecordsOffices.com