How Real Estate Can Help You Build Wealth
Investing in real estate is one of the best ways to build long-term wealth, so it’s no surprise that I have a passion for it. I invest in real estate in pretty much every way I can, including flipping. However, I prefer to hold onto my properties.
Look at it this way. Housing appreciates by 4% every year on average. That means that if you invest in real estate, your wealth will double every 10 years.
As an example, I recently purchased a property for about $43,000. I put $15,000 into fixing it up and rented it out. However, I discovered I could no longer rent in this neighborhood because zoning laws had changed.
This may seem like a disaster, but real estate always has a plan B built into it. If you ever decide you no longer want a property, you can always sell. In the end, I sold the property for around $90,000 and made a nice profit.
When investing, make sure you always have a plan A and a plan B. If you have questions about today’s topic or anything else, please call or email me. I am always willing to help!