When people are asked whether they want to be rich, almost all of them answer in “YES”. But then the reality sets in. The road that takes one to the riches is full of mountains and hurdles. It is easy to work for money and become content with achieving the basic amenities of life.
But if you have that fire burning in your belly which cries “I want to be free, I don’t want to drag myself to work my whole life, I want to travel all over the world when I am still young”, and if your heart says “I don’t want to work for money but want to make money work for me”, then Jeff Adams renowned real estate investor and mentor brings you the perfect solution.
According to Jeff, real estate investing is the best option to become Richie Rich. Are you asking why? Read on to find out.
Real Estate Investment – Always a profit:
Market is a place where give and take or rather buying and selling of goods takes place, with associated profit or loss. When a commodity is sold at a price higher than the cost price, the seller is in profit. But whether the commodity dealt with will yield sustainable profit or not that depends on the type of product and the condition of market at that point of time.
Unlike your other belongings like car, furniture, gadgets which are liabilities because they depreciate over time, your land/property is your asset. It will almost never incur a loss, because property always appreciates.
If you buy a car, although it will make your travel comfortable, you have to shell out money for fuel, right? Moreover, suppose after some time you want to replace it then you will never get the original price for resale. If you invest in land or property like home, office or shop then it will be beneficial to you as prices of real estate have always kept on increasing. So you can whip a fair amount of gain for a resale.
Thus real estate investment is always profitable.
Wondering How to Get Started in Real Estate Investing?
Is your home a real estate investment? No. Because you live there and pay various bills like electricity bill, phone bill, maintenance bill, etc. You can only start investing when you are already settled in one house (either your own or on rent) and have enough money in your pocket to pay the down payment for another one that you are planning to buy.
Once you have invested in real estate, the returns come in when you are able to sell the house at a higher price than its purchase price. If you don’t want to sell right away, you have the option of giving your house on rent. That gives your fixed monthly income that will earn interest for you and over a period of time, cover up the cost of purchasing the home. Thus it becomes a profitable investment.
4 Simple ways to become $$ Richie Rich $$ with Real Estate Investing
- Motivate yourself enough to cross all the hurdles. As is said, there is no shortcut to become rich. Sometimes, the market may not yield the desired results. In that case patience is also required. Suppose you have bought a shop for some good amount of money, and you want to sell it. But the location of the shop is not prime. The area is still a developing one then at that particular time you may not get an extremely good profit on selling it. But if you have patience to let the area develop and get going into the business then it may yield great results.
- Once you have the mindset, get familiar with the numbers and facts. You need to have a creative financial mind. People who recognize different financial options and have a firm understanding of the financial dynamics of the real estate market will do extremely well.
- Realize the power of investing. With correct figures and ability to predict the condition of daily and future market, you can choose wise options of investing.
Imagine a market condition where you are ready to sell one of your property. But the market is terrible and the cost of shop that you had bought has gone down to lower than the cost price. Well, instead of panicking, invest in the property whose price was more before and is now available at a reasonably cheaper rate. Then you can resell the recently bought property at an attractive but slightly higher rate. People who are in a buying frenzy courtesy to the falling market will happily grab the bargain offer. The clear cut profit can help you compensate with the sale of your original property.
4. Luck is not something that accidentally falls in your lap. Don’t wait for luck to play its card. You are the creator of your own destiny.
Take the word of Jeff Adams and crack the money nut with real estate investing to pamper yourself.
