A big part of financial freedom is having your heart and mind free from worrying about life’s y-passages.
For most beginning investors, the ultimate goal of investing is financial freedom.
Financial freedom is essential to enjoy a happier and richer life in our adult lives. Also, this should be your goal as a beginning investor.
What is financial freedom?
The best definition of the subject that I have heard is the number of days you can live without working and keep your present standard of living. Legendary inventor Buckminster R. Fuller coined this definition.
The big money mountains
There are three great mountains of money that you can leverage to get rich: the mountains of real estate, the stock market, and marketing. These three are the proven paths to wealth. Most of the people on Forbes’ Rich List have achieved their wealth through one or a combination of these mountains of money.
How to approach real estate investing
Ownership of the property has been a proven wealth that Money Mountains produces for centuries. You must convert owning income-generating properties as part of your long-term wealth-building strategy. There are tons of books written on techniques and strategies for investing in real estate. The most important thing you need to know is how to take advantage of the real estate mountain to achieve your goals.
Three factors are critical to the success of real estate investment:
- Finding. In order for you to become a successful investor, you need to know how to find properties on sale … properties below market value that will pay for themselves and bring you profit. Successful investors know that profits come from buying right, not when you sell.
- Money. You should also know how to finance your real estate deals. There are many ways to finance deals, your ability to obtain financing is the key to buying properties on sale. The good news is that you can easily get financing if you know where to find the money. Money follows good deals … so make sure you’re good at finding good real estate deals
- Cultivating. The other critical skill you need to be successful as a real estate investor is knowing how to profit from transactions. You may decide to keep the properties you find because they have a good income-generating cash flow in your bank account. In addition, you can also invest properties for profit. The actions you take depend on the investment cycle you are in and your primary investment philosophy.
Real estate is a powerful wealth-building vehicle that you should consider as a beginning investor. Wealth created from investing in property tends to be stable and less volatile compared to the stock market. You can also predict cycles with ease compared to the other types of wealth building vehicles.
Leverage is also a great advantage of investing in real estate, because you can buy properties with little or no down payment.
There are thousands of properties for sale in your city. When you have these three skills critical to success, you can weed out bad property deals, hone in on finding bargains, finance the properties, reap the profits, and get rich in the process.
It’s about finding it, financing it, and nurturing it.
Think rich and get rich.