Real Estate Investing
Tip
Here is a real estate investing tip by a
successful restaurant owner of several Japanese restaurants in
Las Vegas. When interviewed and asked what his secret to
financial success is he replied, Buy a house every year for ten
years, then at the end of ten years sell half of it to pay off
the mortgage on the other five. You will then own the five
properties free and clear, that you can rent or sell later.
That is a really good piece of advice and its
relatively easy to follow. It doesnt require you to slave away
for longer hours or years of studying real estate books,
courses or manuals. I think thats the easiest real estate
investing tip that Ive heard.
You could try to learn all about real estate
investing and not do a single thing. That wont help you or do
you any good. Its the actions that count.
To interpret his real estate investing tip, I
think he means to buy the properties at 0-20% down, rent it out
and make sure the rent covers the mortgage or leaves a little
bit of positive cash flow then next year buy another property
again with the same criteria. In the short term it may seem
like you have a lot of mortgages and debt but the properties
values will go up in ten years and also, the rent will have
paid down some of the mortgages. Also, if possible, get a 15
year mortgage instead of a 30 year mortgage. Just make sure the
rents can cover the mortgage.
Thats it. The easy real estate investing tip
that anyone can understand and start implementing. Theres also
another lady that I know that used to live in my neighborhood
that did the same thing. But she didnt sell off five properties
at the end of ten years. She is still renting them and has a
positive cash flow on all of them, plus the increased values of
the properties put her net worth at over a million dollars. She
is rich in real estate equity and lives off the positive cash
flow.
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