Being a real estate investor, the primary goal is to get out of the rat race. I've had my fair share of white collar, 9 to 5 jobs in the past and let me inform you one thing about them -it isn't fun. I'm positive the reason that you are reading this is you like to escape too. You want your own time back, rather than toiling away for a manager who only makes all the money, along with a more accomplishing lifestyle with financial freedom.
Let me be the one to inform you that escaping the life of a rank and file worker isn't an easy thing to achieve. But I had the best chance to get out of the rat race quicker as soon as I started real estate investing. Bear in mind that at first, I did not leave my regular job. The stability of having my day job is of the essence. I have mortgage loans and monthly bills to pay, not to mention a family to raise.
I paid out my mortgages as quickly as I can. This gave me a leeway to save up and get started with my venture in real estate. There are lots of learning materials easily obtainable in the internet. I, for one, followed Matt Theriault’s tips and achievable and realistic goals. His program taught me how to move at the speed of instruction due to the fact that just waiting in itself could be a drawback, says he. Though he has other techniques for starting a property income enterprise such as going creative and loaning out of your 401k, I have thought I would like to take things slow because I was just beginning.
My personal savings and in-depth research brought me to Memphis where I obtained my very first property. I have decided to do buy and hold. I'm going to have a consistent stream of cash flow because of the monthly rent and I get to hold the property. Memphis doesn't have any state tax and has the largest percentage of property rentals in America which makes it the best choice right even after the property bubble burst. Furthermore, the Midwest has many fantastic things to offer which includes a cheap cost of living, the best barbecues, and of course, the Graceland!
Now, I'm planning to acquire more properties in Memphis. I could also see myself quitting my job anytime soon. I am able to spend a lot more time with my loved ones, I already have a savings fund, and I would be earning more compared to being employed in an office. It may look difficult at first, but if you really put your effot into it, escaping the rat race is not close to impossible and you will find it quite obtainable!
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