Did you know you can use other people’s money to buy your home? Yes, you read that right, smart buyers, even in today’s market, are using other people’s money not only to buy property, but to create passive income as well. It is a concept that can be hard to believe at first glance, or sound almost too good to be true. However, this very concept of investing in real estate has created countless millionaires that are able to live the life of their dreams.
But what does this concept of investing in real estate and creating passive income even mean? Simply put, investing in real estate allows you to use other people’s money, in the form of rent, to buy your own house. When you buy an investment property, you can rent out that property to a tenant who will pay you rental income. You will use this rental income to pay your mortgage and gain ownership of your property, which is known as equity, as you pay more and more of the mortgage payments. Additionally, you can pocket the money that you have left over after paying off the mortgage, interest, and all other expenses. This is known as cash flow, or passive income. The icing on the cake is called appreciation, which refers to the fact that your home will increase in value over time the longer that you own it. Confused? We can clear up any questions that you have!
Skeptics often believe that real estate investing is too risky due to an unpredictable market, that it requires too much money to get started, or that it is too difficult. The truth is, despite the fact that there are short-term market fluctuations, there are countless opportunities to succeed in real estate investing with solid, long-term goals. There is nothing stopping you from using rental income to pay off your own mortgage, while gaining equity in your home and earning monthly cash flow in the process.
Although investing in real estate is not easy by any means, it is very realistic to achieve long term wealth in real estate with the right guidance, knowledge, patience, and determination. There are thousands of unique and creative ways to make money investing in real estate, including single-family, multifamily, apartment buildings, commercial real estate, mobile home parks, and many more!
At Century 21 On Target, we have detailed informational seminars designed to demonstrate the concept of real estate investing in more detail, answer any questions you may have, and hopefully inspire you to get started. Check in with Century 21 On Target today to find out when our next investment seminar is, or get in contact with one of our knowledgeable agents to help you get started investing in real estate today!