The sooner you get started in real estate, the stronger the likelihood you’ll be able to retire with a nice real estate portfolio.
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Are you thinking about getting started in real estate? Barry Krevoy and I have a story to share that might interest you.
It starts with a man Barry met 30 years ago. Recently, Barry and this man were talking about one of the properties the man owned, and he mentioned that he actually owned seven properties—four of which were paid off. When Barry asked the man what he did for a living, he said he was a foreman at a steel mill. Barry then asked—with all due respect—how a foreman at a steel mill came to own seven properties.
The man said that when he was young, he scraped and saved until he could buy his own place. He then moved out of that place after a couple years and started renting it. He did the same thing with the next place he bought, and the same thing with the property he bought after that. Every time he collected rent from these subsequent properties, instead of putting that money in his pocket, he paid the mortgages of those properties down quicker.
This story illustrates the power of being a landlord, and it’s something you need to understand. Being a landlord means having someone else pay your mortgage for you.
Don’t wait for your dream home to come along to get started in real estate.
You have to get started somewhere, though, so don’t wait for that dream home to come along to do so. Your first home won’t be a 2,000 square foot house with a big backyard. Your first home should be a small place you don’t mind moving out of and then renting out. There are many down payment assistance programs we can help you with if need be.
We can help you get started in real estate. Don’t self-diagnose yourself—contact us so we can formulate a plan to get you into your first home. If you already own a home, let us help you get more of them. If you get started, the likelihood that you’ll be able to retire with a nice real estate portfolio is very good.
If you want to get started in real estate or you have any other questions, don’t hesitate to give us a call or send us an email. We’d be happy to help you.
