For safe and steady wealth building, nothing beats real estate.
But be warned: you can also lose your shirt in the blink of an eye.
The good news is, most real estate horror stories fall into two main categories. Let’s take a look:
Category #1: The “Do-It-Yourself” Investor.
Inspired by the overnight success stories in a market upswing, educated by “fix-and flip” shows on daytime TV, this confident “investor” teams up with his brother-in-law (a contractor/handyman) to buy that run-down house down the block, fix it, and make a fortune.
Two years later, a leaking sewage system, hidden rot & mold, and a ludicrous zoning regulation with the backyard creekbed leaves this “investor” broke, frustrated, at odds with his brother-in-law, and ready to hate on real estate for the rest of his life.
Don’t laugh. This actually happens.
Category #2: The “Give Your Money To A Suit” Investor.
This approach might seem more sophisticated… but it’s not.
It’s the same approach most people take to the stock market: Give your wealth to a stranger… cross your fingers and hope he’ll outwit the market for you.
Good luck with that.
Real estate, like any other business field, has winners and losers. The losers claim that “luck” is the distinction between the two.
I think Benjamin Franklin put it best “Diligence is the mother of good luck.”
There is a way to do real estate right- Hassle free, no tenants, no toilets.
Acting on the wrong advice (education) and partnering with the wrong people (nothing against your brother-in-law) are the top 2 reasons why most people get burned in real estate.
At Freedom Founders, our investors focus on 2 key fundamentals:
Educate yourself, and build your network.
Ultimately, being connected with the right people (folks you know, like, and trust) is the key.
…your Network is your Networth.
I call my network my “Trusted Advisors”.
I’ve met hundreds of real estate gurus, experts, and investors in my 30 year career. These are the folks that held up, came through, proved to be the real deal.
Getting connected with the right people is the key to fast-tracking your financial freedom.
But to get connected, you have to start by educating yourself.
There are a lot of voices out there…
Learn from people who are already getting the results you want.
And don’t just take their word for it. Dig deep. Test it.
A recent survey suggested that 8 out of 10 millionaires secured their wealth in real estate.
There is a great wealth transfer underway.
If you position yourself on the right side of that transfer, you can own your life in 5-7 years.