Buying a home to live is not a real estate investment. It’s just a dream given to people to keep them working all their lives.
Real Estate is not as easy it seems, it takes lot out of you when you have to deal with Price changes, Tenants, Maintenance related issues.
Your [WHY], why you want to do this has to be very strong which will stops you quitting when things get tough because it does.
Sometimes, things get really tough for me as well and then I remind myself WHY the hell I am doing this and that keep me going.
In this Part 1 of the series of Real Estate Investing for Beginners, we will understand WHY real estate is important and how you can change your life.
As of now, I own 25 Rental Properties, I am sharing my personal journey of buying Rental Units.
I was making well over $100k, a very comfortable life. I could have done the same thing like all the other people do. Buy a house, a very expensive car and just keep paying that all my life. There was no doubt that I was going to live a nice MIDDLE class life, maybe save up a little money for my Retirement.
But then I would be worried about my future all the time, what if I lose my job, worrying about home and car payments. These are all the MIDDLE CLASS PROBLEMS.
I understood that I have to find a way to invest and create PASSIVE INCOME which keep coming month after month without me working all the time.
I understood that buying a house is a direct entry to the Rat Race, all the money will be gone paying off the mortgage and nothing left to invest. It’s as simple as that, you buy a house first then it’s sure shot way to get stuck in the middle class of paying taxes and bills all your life.
DON’T BUY HOUSE FIRST
Don’t buy a house for yourself first, buy it for others to live and Collect Rents, create a system to grow.
Once you buy a house for yourself, make sure someone else is paying for it.
If you want to achieve big things, become a big real estate investor. you need to find out WHY the hell you want to get into this,
I am going to give you few reasons.
1. One of the fastest ways to become Millionaire
I started investing in 2014 and I will be worth over $2.5 Million by 2022, owning 25 rental units and another 10 units this year. Was this ever possible with my job? No Way. Was this possible through Stocks in the same time frame, NO WAY. This is not just the fastest, it’s a very easy and certain way to become Millionaire. If there is one investment which made the most Millionaires then that is Real Estate.
2. Financial Freedom
Never have to worry about money, Never have to depend on your job and pay check or worry about what will happen if you lose your job.
3. Get rid of 9-5 Job
Do you want to work all your life 9-5? Life is long, we are not born to sit at a desk for our whole life or work in factories, driving trucks. That’s not a life. Once you get rid of 9-5 work, a new life opens up, you can learn things like music, travel, and spend more time with family.
Don’t forget to give, Create your own fund or join others, My parents struggled to pay for my education, I want to create a fund for families who can’t pay for education. I like to create funds for struggling farmers because I have seen how my father struggled and how other farmers struggle. Think like that, build a lot of wealth and then do something good to give back. Leave your mark in this world.
In the next part of this Series, we will talk about what kind of Real Estate you should buy. Subscribe BLOG\YOUTUBE Channel for the next part of the series.