My real estate mentor dropped some wisdom that changed my game:

'Lisa, buy at least one property a year.' Sounds simple, right? But here's the catch:

First, it meant cutting back on those tempting clothes and shoes shopping sprees. Tough, I know! But the real eye-opener was his advice on financing. 🛍️🚫

You don't need to cough up the entire list price of a property - just 20% as a down payment. The key? Ensure your tenant's rent covers all the expenses, making the investment essentially cost-neutral for you.

This strategy won't guarantee immediate income; it's about long-term wealth building.

With a regular job to cover living expenses, every property becomes a stepping stone to greater financial security!

At Wealthcon 2023 with @ryanpineda

#viralvideos #realestatetips #realestate

[johnnavarro]

For those people who assume that rent is always going to be on time, well, you need to think again. Evicting people is not as simple as they say. Beware of the risk.

[powerballgamingchannel]

Of course! Why didn't I think of that! Just buy one property a year with a 20% down payment! The average sales price of a home in the US is over $400, 000. All you need to do is save $80, 000 a year plus reserves, closing costs and CapEx. So easy people!

[rosie]

And this is why the housing market is the way it is. I never see for sale signs anymore, only for rent.

[iKevski]

And this is how you are getting a housing market where more and more properties are in the hands of individuals who only see the property as an investment, as opposed as a place to live and build a life

[powergrower]

If there is one thing I have learned after buying 11 rentals it's that tenants do not pay your mortgage. You need major reserves for issues. I have a 75k legal bill right now from one of my properties. Another property needed a roof far sooner than expected because it was installed wrong, oops there goes years of rent. Lots of flooding issues where you fight with insurance for months and they stop paying the loss of rent. Now you are coming out of pocket. All these headaches and I made similar returns as the S&P.

[Rob-tomu]

"Your tenant is going to cover the expenses on that property" That's a big assumption which usually turns out to be false. The only way I've ever made money off real estate is by developing vacant land, and selling as soon as construction is complete, and rolling the profit into the next project. Helps that my day job is in construction.

[jon]

Dave Ramsey had the same idea and then went broke. Reminds me of the Big Short when the lady says she has 5 houses and a condo. At least she is advocating for 20% and not 5% you got from credit card fraud like some others in this app. Let’s not act though like you aren’t increasing your bankruptcy risk by accumulating millions of debt under the presumption of infinite appreciation, employment, and the rental market not declining.

[FinalWaveFeminism]

As a landlord for many years. They make it sound so simple lol.

[TBISYTC]

Gee, I wonder why rent and the prices for homes are so damn ridiculous...

[RMN]

It is fun and games until the housing market drops!

[maxxcells]

Even if you get a good tenant you will have other expenses, AC will go out, boiler will blow up, stove and refrigerator will break, lightning will fry you electrical panel. Don’t save 20%, save more bcs eventually something will break. Sometimes rent won’t cover everything, so make your research.

[jeakeen]

I believe I once heard dave ramsay once said, being a landlord is not a passive income.

[MinhBui-wp]

20% put yourself at risk. 1 property might be fine but still risky. Most people go bankrupt because they fell into so much debt. Reality = buy 1 rental, pay off and move to the next. Less risk and in control. Do some simple math my friends. It’s nothing complicated. It’s no gain unless 5 or 10 mores years in the game. Make money by using money.

[ryebread]

yea that was 2013, one of the best years to start investing in RE, 2024 is a different story

[SARAkHAN]

Sister you build that wealth! Thank you for sharing!

[vicahmed]

Purchasing my first 2 houses in Dubai is a testament to what smart financial decisions and perseverance can achieve. I wasnt financial free until my 40’s and I’m still in my 40’s, bought my second house already, earn on a monthly through passive income and got 4 out of 5 goals, just hope it encourages someone that it doesn’t matter if you don’t have any of them right now, you can start TODAY regardless your age INVEST and change your future! Investing is a grand choice I made..❤

[SiLeNtHaKr]

Always have a year of rental income saved up. Anything can happen

[DavidGonzalez-xcbj]

Nice trick, you put 20% and someone else pays the rest. What a fair trade. Honest way of making money

[tansta]

And that’s why everywhere in the world investors own everything and mums and dads become serial renters

[carlkelley]

That strategy works as long as interest rates are low and the economy is growing steadily.