So, if you have read part one and two, you know that we are ready to buy our first house, you should be aware of the risk and be more aware of the rewards. We have coved the 11-second rule in our last post and stressed the importance of doing your research or each property.
Now that you have your first property you will be feeling pretty good about yourself or terrified. But don’t stop now they key you building your wealth is owning many properties, not a few. Most people only buy 2-3 and this is where it can fall apart 2-3 can drain your income streams. Between the up-keep of the property, it can become too pretty full on, this is where you need to this where you are finances if you are able to save on that deposited for a 4th I say go for it try to get ahead of it.
You might have this underlining feeling you guilt and things it’s to risk but really investing in property is safe now not 100% but it really is one of the best investment that looks after your money.
Think about it this way, your property value doubles every 10 years at the minimum in the most major city but for this case, we’re going to say 10 years. So you buy a house at $400,000 in year one, ten years later its value at $800,000 that a 100% increase in only ten years. While at the same you will be receiving an income on top of that 100% increase say you make $5,000 each year for ten years that’s $50,000 of passive income. Note $5,000 a year break down to $50 a week which isn’t a hard goal.
You always have 100% control of your investment you know where your money is and know where your money is, having 100% control of your investment is just about a never. This is where you have the edge as you can sell when you want to buy more, invest more and control what investments you wish you to follow.
That all I have for now the next post we will be talking about how to make your houses a cash flow machine.
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