A Small Part of The Article for The Introduction of "The Book on Real Estate Investing: 21 Proven Strategies for Wealth and Success in Real Estate" (ebook)
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How can you become rich with real estate?
Index
10 Legit Ways to Become Wealthy through Real Estate...4
How can you become rich with real estate?....6
Method Number One Cash Flow...6
Method Number Two Build Wealth Through Rental Properties...8
Method Number Three Appreciation...10
Method Number Four Tax Benefits....11
Method Number Five Real Estate Investment Trusts ...11
Method Number Six Get Rich by Flipping Real Estate....13
Method Number Seven Make Money Through Private Lending....14
Method Number Eight Loan Pay Down Option...16
Method Number Nine Refinancing Your Mortgage With Better Cash Flow...17
Method Number Ten Stop Recycling Debts...18
2. 10+1 Golden Rules To Becoming A Successful Real Estate Investor And Rules of ‘Thumb’...20
Rule 1. Buy it Right...21
Rule 2. Buy the Right Type of Property...23
Rule 3. Buy in The Right Location...24
Rule 4. Don't Buy on Emotion...26
Rule 5. Don't Be Scared to Buy...26
Rule 6. You Need Reserve....28
Rule 7. Do Not Over Leverage Property...29
Rule 8. Do Not Buy Small Houses for Rental....31
Rule 9. Do Not Flip Everything...33
Rule 10. Wealth Comes From Owning Real Estate Not Flipping...35
The Following Real Estate Investing Rules of 'Thumb'...37
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10 Legit Ways to Become Wealthy through Real Estate
there is a common saying that the rich make money work for them they have expert knowledge of the dynamics of money and how to deploy this knowledge to earn them maximum gains that's why all rich people invest their money and one area all rich people love investing their money in is real estate
most millionaires made more money through investments made in the real estate sector than any other with real estate constantly increasing and outperforming the rest
- it's become a default favorite, especially since
- it isn't as vulnerable to short-term fluctuations as the stock market its flexibility is one of the main reasons why all millionaires consider investing in
- it can develop
- it leases
- it subdivide
- it or add parcels to
- it renting
- it is when the market goes down and selling when the market goes up as the rental value appreciates
it's no hidden secret that globally acclaimed billionaires like Warren Buffett Donald Trump and the like made a large chunk of their money through profitable investments in real estate
in the annual letter to shareholders of one of the biggest real estate firms in the world berkshire hathaway two years ago Warren Buffett shared the story of two successful real estate investments he made some years ago investments that have continued to yield a maximum profit to date
the principles Warren advised are exactly what other real estate investors do right from investing in a broad sense when it comes to real estate to make the right moves which is sure to earn you so much money in
we've researched and prepared a few guidelines that you can follow to achieve great returns
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Method Number One Cash Flow
when you hear something along the lines of investing in real estate can make you a millionaire what immediately comes to mind is the periodic promos of companies or the late night television host trying to make you sign up for some seminar or programs of the sort many have ventured into the world of real estate and only came out with empty bank accounts debts and endless bank loans they keep struggling for years while never getting to achieve that lofty dream that made them start in the first place your cash flow is a part of the key income generators when you choose to invest in real estate it's known as the extra income which you get to keep for yourself each passing year you own a real estate property although this can sometimes fluctuate based on the repairs you have to carry out every now and then when cash flow is involved it is essential to consider other non-monthly costs like the vacancy and even expensive items that have to be replaced the roof windows plumbing and other appliances
Related: The Business of Real Estate: A Guide for Savvy Investors
Method Number Two Build Wealth Through Rental Properties
this is said to be the classic way of making money through real estate in the old times it was known that lords and nobles fought over many titles that allowed them to collect rent from those farming living and in anyone using the land in any way the daring types have also made moves to drain swamps most sea is useless develop it and make it into a million dollar business they had the foresight to earn more from the land than if it was leased to ranchers or farmers you can buy a property build a home and rent it out to make some money one can also decide to look for distressed properties rehabilitate them and then rent it out one can also choose to own commercial industrial and residential real estate properties due to the steady cash flow it generates it's one of the best ways to earn passive income through real estate although a significant downside is the fact that once your rental complex has a problem all expenses will be borne by you and it can dig a deep hole in your finances investing in stable markets is a wise choice to counter this by cashing out your money from your retirement account or home equity you can own multiple real estate holdings and earn from the different outlets which will enable you to have enough money for a stable life
Method Number Three Appreciation
is one of the principal ways to make money through real estate in the real estate sector when the value of a property increases it is termed appreciation it is no news that real estate holdings keep growing over time for example in America it's grown by an average of 3 percent per year over the last century taking advantage of the appreciation of real estate properties will help you to make informed decisions at the opportune time which will earn you profits there's another form of appreciation which is known as forced appreciation which is the concept whereby you push the appreciation of your property by physically improving it over time this means that this type of appreciation will not be influenced by the uncontrollable market forces, therefore, the owner can earn more by increasing the rental income or decrease the expenses of the real estate investment property
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Method Number Four Tax Benefits
ask any real estate investor out there and they would tell you of the many advantages tax benefits provide this is feasible in a country like the USA the government supports real estate investors and they make use of the tax system to encourage the purchase and the lease of properties directly from the extra tax write-offs to the lack of self-employment tax business owners in real estate pay way fewer taxes than other business owners this is so they can use the extra money to buy more properties or pay the loans taken faster
Method Number Five Real Estate Investment Trusts
if you want to make enough money from real estate investments you may want to consider real estate investment trust rates which allow you to invest without having to buy and manage a property singly this may be invested in property mortgages or even a mix of both you can be sure to diversify your investments by buying rates in specific market niches one of the many benefits of buying rates is the non-correlation with the other types of equities and this points to the fact that the value of rates would depend on the real estate and not the stock market this trust is available in both publicly traded and non-traded forms the public-bought real estate investment trusts are as liquid as they can get in both stocks and bonds they also stand out for the regular payments of dividends this is an excellent way of making money if you ask me
Method Number Six Get Rich by Flipping Real Estate
fixing and flipping in real estate is also a perfect way of making money this method involves buying a home and making the necessary repairs then selling for improved money this method has been the subject of reality shows in actual words one has to know that this method of seeking to make money from real estate is high in risk if for some reason you did not evaluate the cost of rehabilitation properly you could lose money you have to make sure you understand your target market and buyer expectations failing to do this will most likely wipe off the profit margins you can opt to do these repairs yourself as you're more likely to cut down on renovation costs you might initially have planned out if you're one with no experience there is a risk that these forms of do-it-yourself repairs would not meet the buyer's expectations in any way the main idea is to fix and flip properties that are only in need of cosmetics repairs which are rare in the real sense of the word
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Method Number Seven Make Money Through Private Lending
when it comes to making money through real estate there are hard money lenders who seek to lend money to real estate investors who want to make use of the fix-and-flip strategy this category of people gives money to those willing to renovate real estate holdings and rent it out later on in this arrangement the property investor would secure a traditional mortgage after they have guaranteed a valuable property which will be considered as collateral it's the idea that lending money to real estate holders to develop their property is considered more profitable than just leaving money sitting in the bank you only need to do your due diligence before making your move crowdfunding is also another avenue that can be exploited in case you're not ready to invest large sums of money into a single project know that you can choose to loan money out to someone who wants to buy a rental property keeping in mind that these loans are high risk and are also not liquid
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Method Number Eight Loan Pay Down Option
when you choose to invest in real estate your tenant automatically helps you to pay any of your loans down in the process helping you to build wealth automatically take for example you get to purchase a house about five years ago for a hundred thousand dollars and you obtained an eighty thousand dollar mortgage let us say it was for thirty years with a five percent fixed rate as it stands today you would only owe about seventy four thousand dollars moving on to ten years from now you would owe only sixty five thousand dollars this only means that for every year your equity increased your property increased in value if it happens to make even zero dollars in the cash flow and it went broke and did not climb in value in any way even after the mortgage is paid off take or leave it you would only have a property worth a hundred thousand dollars on your hands or even more which you did not plan for initially any tenant you get paid it off due to a loan pay down but this cannot happen if you decide to pay all your cash or savings for the property instead of choosing to go for the option of the mortgage this is one of the smartest moves made by real estate investors in a bid to get rich
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