Three avenues you can take to make money with real estate investing.
How can you become a millionaire through real estate? Over the years, people have gotten their start in real estate investing in various ways. Today, we’re sharing the top three strategies for building wealth through real estate investments:
1. Buy and hold. You can buy a property and hold onto it, allowing equity to build up over time. This can lead to significant gains, especially in places like California where property values can soar.
2. Flipping. This method involves you purchasing a property in need of renovation, fixing it up, and selling it for a higher price. The key to success here is getting a good deal when you buy the property.
3. Short- or long-term rentals. This is our favorite method because it aligns with the philosophy of investing for income, popularized by influential figures like Tony Robbins. We’re seeing an increased interest in vacation rentals, even in unexpected areas, as well as mid-term rentals for professionals who can work remotely.
To get started with a short- or long-term rental, there are various paths you can take. For example, you can turn your current residence into a rental property, just as we did with our second home. Another option is to explore multifamily investments, like duplexes or fourplexes, which can offer better cash flow than single-unit properties. We’ve had recent success with this strategy—we helped a couple turn a negative cash-flowing property into two duplexes, significantly improving their cash flow and lifestyle.
Real estate investment can open doors to becoming financially successful, and we are here to assist you on your journey. Take the first step now by calling us or sending an email. Let’s make your millionaire dreams come true through real estate investment!
