Need Cash? Ive Got A Secret Weapon For You
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Share: If youre worried about cash flow (and who isnt these days
?), youll want to invest in income producing properties.
This is your secret weapon to generate the most amount of cash in the least amount of time even if you have very little money or credit.
This is exactly what I would do if was starting over today.
Based on my 30 years of experience, this is what works. And theres no better time than right now. This a boom time for real estate investing. In fact, I never invested in appreciating markets like we saw several years ago. I always invested in depreciating or flat markets like we see today, but interest rates then were between 8% and 12%. Today, theyre 5%. Its actually cheaper to get started today and thats one of the reasons why this a boom time for investing.
Using the same investing methods Im about to share with you I achieved financial independence in only 3 years. You can too.
Forget about making millions of dollars right away. Thats not realistic. I bet you havent heard too many real estate investing gurus tell you that! I believe in being honest and upfront with you so you can count on me to be straight. And promising you millions of dollars in the next few months doesnt ordinarily happen. The first thing you want to focus on is achieving financial independence. The millions will come later.
What do I mean by financial independence? Its the ability to earn enough money that you no longer need a full-time job to support yourself and your family.
For me, I was able to achieve financial independence at 23 years old. I was able to quit my $6/hour factory job because I had as many as 5 properties making me $5,000 a month.
For instance, if you have a duplex and each side rents for $1,000 for a total of $2,000 every month and it costs you $1,200 per month in expenses, youll have $800 in positive cash flow. If you have 4 or 5 of those types of properties you can generate $3,200 - $4,000 a month in cash flow.
Heres the question you should ask yourself: How do I get $3,000 - $5,000 coming in every month as positive cash flow so I dont have to work a full-time job?
Now, $5,000 a month may not be all that you want to earn for the rest of your life. But I would bet if 80% of investors earned this amount of money and they cut back on their expenses they could quit their full-time jobs. So getting started is not difficult.
Its simply a matter of finding income producing properties such as duplexes and triplexes that you can rent and produce a positive cash flow. Once you have 4 or 5 properties like these and your expenses are covered you can think about making more money.
Unfortunately, right now, youre probably so busy with your job that you dont even have time to think about how to earn the money youve always desired.
First things first. Begin by investing in income producing properties, such as duplexes, triplexes and 4-unit buildings so you can create enough positive cash flow that will give you financial independence.
For more about how to get started in your market, give us a call and find out how one of our mentors can help you.
by: Russ Whitney
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