Enlightened Financial Freedom Using Real Estate
Enlightened Financial Freedom is something that I enjoy and live to share with the world. That is why I am sharing this with you today. Don’t get me wrong. I am not a millionaire but will be someday. I am not a guru but will be someday. I am a guy that learns practices teaches. That’s where true enlightenment comes from.
There are many ways to obtain financial freedom which have been tried tested and proved. Specifically there are three common Money Mountains. The three of these are what I call Stock Market Investing Real Estate and Marketing.
Heres a brief overview of Real Estate Investing.
Real Estate Investing has to be the Money Mountain with the greatest earning potential. The deals that are done in Real Estate are incredible as money goes. You can easily make 20000 50000 profit on one single deal. That is more than most people make in an entire year.
There are several areas I am going to cover. These include Flips Foreclosures Residential Investment and Commercial Investment. This list is not inclusive but just a short list to wet your appetite.
Flips are very interesting. Flips as well as any other form of real estate can either work very greatly to your benefit or can eat you alive. When you make a deal with a flip usually it is closed within a matter of days or just a few weeks. These are very much shortterm. Simply stating you sign a contract to purchase a property then you find a buyer to purchase it for you. In between you should evaluate the property and make any repairs necessary. The goal is to close the sale with the buyer before you close the sale with the seller. This eliminates any money coming from your own pocket. With the proper paperwork research and timing this can make you six figures a year easily. The following topics can be based off of flips but can also be longterm.
Foreclosures are probably the simplest ways to find great deals. Again these can be used as flips and also for residential and commercial investments. You can find information on all properties that are foreclosed or are up for foreclosures at your local courthouse. From there you can contact different home owners and possibly provide a solution to their problem. If they cannot afford to stay where they are and have taxes and payments that are beyond there ability to pay you can step in and take care of it for them. This can work out great if their payments are much less than the purchase price. You can bank on the equity that may be there. That is the beauty of foreclosures.
Residential and Commercial investments are the big deals. These are in no way shortterm deals. Whether its homes or commercial lots you buy and then take over the property. Residential investment properties are not buy and sell properties. These are properties that you would rent out. This goes the same as commercial properties. You do not sell the lot to a business owner but rent out the space to them. This is great for becoming an alternate source of income for you. You can hold the rent a great percentage over the cost of maintaining the property. This is probably the most common method of real estate in todays market. This is the method that I would suggest a beginner getting into. That said I would start small with residential properties. This can include duplexes or small apartment buildings. They are easy to manage due to the small amount of families included.
The last note Id like to make is on property management. Property managers help owners everyday. They are there when we are not. They handle payment processing from tenants. They handle trouble calls in the middle of the night. They handle complaints. They dont do this for free however. Typically property management firms charge 10 of the gross income of the property.
However you go with real estate investing always look to making a winwin situation with the tenant. Help them find a solution to their problem. This is where enlightenment enters the picture. When we help others along with helping ourselves we truly achieve Enlightened Financial Freedom.
About the writer: Michael Kelly A Sailor in the U.S. Navy. While I spend most of my time defending my country I am also running my own business and teaching others how to obtain Enlightened Financial Freedom. You can have access to this same information I’m teaching ONLY at http://michaelsbrand.blogspot.com. See you over there!
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