REAL ESTATE INVESTMENTS
There are many investment vehicles to choose from to get you from your current position to your desired outcome. In fact, there are so many that it can be overwhelming and confusing. The right answer depends on you. It depends on what you are familiar with, comfortable with, or what you are willing to learn. Everyone of them has their advantages and disadvantages. Choose one and get educated. Study it, learn it, and benefit from it. Be the master of one before you consider moving on to the next.
As you may have guessed, I choose real estate. I enjoy it, understand it, and study it daily in one way, shape, or form. I would argue that it is the best financial vehicle. It is tangible, has real value, and a necessity of all our housing needs. With real estate, you can build, buy, sell, trade, leverage, loan, or rent it. It is what you make of it. You are only limited by your imagination & what you don't know. Remember that what you know is important, who you know is more important, but what you do is the most important. Take action today.
Part of your objective is to learn and know what you don't know. When you understand this, you can surround yourself with those that do. No one can learn or know it all and no one should. You would benefit to know someone who understands your needs and be able to leverage their expertise. As a physician, I do this all the time. If my patients need a heart specialist, I leverage the expertise of the cardiologist.
It's difficult if not impossible to win if you are the only player on the court, true success requires teamwork. Those that understand this will stand out, go farther, and be much more successful. Start networking, select your team, and grow your success.
My Real Estate Acquisitions
I'm simple and I like to invest in tangible things, something you can see, share, and touch. It is a part of our basic need such as food, clothing, and shelter. As simple as it may sound, investing in real estate can be complicated and the loses can be significant especially when the investor is not properly educated. There is a saying in this industry, you make your money when you buy. Get educated, build your team, and buy right.
I have shared three of my past real estate purchases with you below and over time I will blog about my upcoming real estate acquisitions, my thoughts & opinions, what I have learned & currently learning, and any financial news I feel will affect us as students of financial education. I hope that by sharing, you can follow along, learn, avoid any of the mistakes I have made, and be able to fast track your success.
As mentioned above, real estate encompasses a wide variety of investment opportunites. Some plan, develop, and build master planned communities, commercial buildings, and smaller spec homes. Others will acquire an existing home, rehabilitate the home, and resale or rent it. Some will be landlords and others will leverage the time and expertise of a property manager. Then there are investors who will lend the capital for a great return with the property itself being the real collateral. You can invest in one or a variety of these strategies. What you do will be determined by your current position, time, comfort level, team, and expertise.
Lending is part of our culture. It is likely that everyone reading this has some sort of loan. For many of us, it may be a student loan or a home loan. Use appropriately, lending gave us opportunities we may not have had. Truthfully, many would not be able to afford school or professional training if not for the loan they had received. In fact, lending is big business and over the next few years it will be bigger. The good news is that you do not necessarily need to be a big bank or company to profit from it. If used wisely, it is another tool that you can capitalize on.
In the past, when we think of lending, we think of banks. Today, those who are financially educated will see this as an untapped opportunity. It allows you to break free from the chains of the institutionalize mindset and open the door to creativity and profitability. Part of the bank's role is to lend capital and make a profit. Now, I want you to pay close attention as I am going to share something very important with you by asking one question. Whose money is the bank lending out, profiting from, and what rates are they giving you?
Learn and you will quickly realize that you were not saving your hard earn money in the bank but losing it.
1880 square feet single family home rehabbed in the Atlanta, GA area. This house was a true rehab as it had no kitchen or bathrooms. My team put this home together in about 4 weeks. It is presently under contract for a rent to own tenant buyer. The pictures above are post rehab with granite countertops in the kitchen, marble tiled backsplash, and marble tiled showers.
Over 3,200 square feet fourplex (approximately 800 sqft / unit) in Fresno, CA. All units are currently rented. The above pictures show that the carpet has been removed, wonderboards nailed down, and tiles are being prepped to install. It is alway a pleasant feeling when you put a "For Rent" sign up after all the labor you have put into it.
Over 2,100 square feet nice all brick duplex in St. Louis, MO. Both units currently rented. The above pictures are post rehab as well.
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