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 How to build a 10 Million Dollar Real Estate Retirement Portfolio
By: Trang DunlapFounder of the Legacy Group – San FranciscoBay Area Real Estate Serviceshttp://smartlegacy.com 
 
Introduction
Good news, it is easier then you think to create a huge amount of wealth over the next several years.Oh, did you not want to hear that? You want a quick 10 million inyour pocket now… Sorry, this guide is for “Realistic” people thatdon’t fall for get rich quick schemes. You might as well just go back to the internet and continue looking for that golden egg. Now back to the real readers… Growing a steady real estate portfoliois just about the easiest thing you can do. It simply involves buyingreal estate and letting other people make your payments until all your  properties are paid for. I always crack a smile when I say “lettingother people make your payments”, and if you already own propertyyou know why I’m smiling…if you’re currently a renter then that lastcomment probably put a frown on your face, because I’m talkingabout YOU!!!!Did you know that 98% of all millionaires have investment in realestate? Those investments can be anything, including second homesand vacation properties. Imagine yourself investing in a property inHawaii that you can use anytime you want and other people aremaking your mortgage payments. This little guide will tell you whyyou need to buy that vacation property… Right now!
 
Understanding What Real Estate Investing Is
With the popularity of HGTV and house flipping shows, I just want tosay that flipping properties is NOT investing…It is a job, just like the job you are doing now. If you don’t like going to work at your officewhere you sit at a computer and enter data, then I got news for you…Flipping homes is the same. You have to spend long hoursdoing back breaking work, with strict deadlines, and budgetconstraints to flip properties. You basically are a construction worker.True real estate investing is buying properties and having enoughequity in them right from the start so that you can sit back and useyour head, not your muscles. All great deals are made when you buy,and most savvy real estate investors know that holding a property for the long term,
while renting it out and letting someone else pay themortgage,
is the smartest thing they can do. What is so good about being a true investor is that you have the options to sell, or rent, or fixup, because you made you money on the purchase.Leave the flipping to the people that want a quick buck… I guaranteeyou most of them are really hurting right now because of the economydownturn, but real investors are still getting the same rents, monthafter month. The property value might have gone down but rents havenot, and in some cases gone up. Simple economics… If people can’t buy they HAVE TO rent, and supply and demand always drive themarket.
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