Real estate is one of my favorite ways to invest, grow wealth and build passive income. You build it once and then get paid monthly.
There are two main types of real estate: retail and commercial. Once created and maintained both can provide you with a passive income stream for investment. You will want to do your research and determine which is the best avenue for you to be successful.
You might think: Real estate is expense. I do not have an extra $20,000 or more to purchase or build a rental property. I don’t have the time or knowledge to build something. I do not want to be a landlord and have to collect rent or kick people out of their home. These are all valid arguments. But where there is a will there is a way.
There are so many new and different ways to invest. I am a millenial and love investing with my iPhone. Real estate to me is about more than just collecting rent and making passive income. Where you live and where you work is your environment. It should be great.
Real estate can also be a tax write off. The interest is tax deductible and if you are investing as a business maintenance can be a tax deduction.
I always tell investors to find your why? Most times people invest just to make money and I definitely have investments like that. But I always have a plan behind the investments that I make. Some companies I invest in for the dividend income. Some I invest in for growth. Some I invest in because I love the products and services and believe in the mission of the company. So whenever people invest I tell them to find they Why? Why are you making that investment and what is the purpose behind it?
Real estate is personal. People spend their lives at jobs and their home so you want them to be great. If you are an owner you are playing a part in their lives. That is the reason that I choose to invest in real estate.
You do not have to be a millionaire to invest in real estate. Today, there are companies that crowdfund in order to finance projects. Technology has changed the game. You can invest in apartments, rental homes or storage units straight from your phone. You can start with as little as $5. These investments are great because they pay you reliable monthly income and you can reinvest that money in other projects to compound over time.
Real estate investment companies:
- Small Change
- 1031 Crowdfunding
- Zeus Crowdfunding
- Wilson Investment Properties
- Rich Uncles
- Patch of Land
- Equity Multiple
Always do your homework. These companies charge fees as they should because they often manage the real estate projects. That is a lot of work. But in order to maximize your investment you want to keep fees and costs at a minimum which can really add up in real estate.
Real estate can be great because not only do you get rental income, but it is also one of the only assets that appreciates over time.
Benefits of Real Estate:
- Appreciates over time just from ownership
- Builds your credit score
- Provides rental income
- Tax deductions
Find one of the above companies that works for you. You can be a real estate tycoon.
If you learned anything from this article or know someone that would benefit from it share it. And leave a comment about your experience.