I wanted to take a minute to write you and thank you for helping us find our dream home. We absolutely love our new four bedroom, two and one half bathrooms especially the large kitchen. Oh and I can’t forget about the two car garage. The neighborhood is awesome and we are only 2 miles from the Elementary school, can’t get any better than that!
The whole experience has been wonderful except today I received my bank statement. We have to make our first monthly mortgage payment by the 15th. I can’t believe I will have to do this for the next 30 years! With all the excitement over the process of finally finding our dream home we did not stop to really think about the debt we would be undertaking.
As you know for many of us homeowners our mortgage is the largest debt we will ever have.
Its not your fault for putting us in debt, we were the ones that signed the dotted line on this 30 year mortgage to the bank. Anyway my excitement quickly turned to a dull realty until the other day when I stopped by my local barbershop to get a haircut. My barber congratulated me on the purchase of our new home.
Then he asked me, what if you knew of a fast way that you could pay off that 30 year mortgage, without refinancing, without increasing your monthly mortgage payment, with little to no change to your current budget and using your CURRENT income…would that interest you?
Of course I told him “Yes” then he asked me, Read More
I realize some of you may or may not have heard of Robert Kiyosaki but the man is full of knowledge and wisdom. Through his various speaking engagements, books, and videos he shares very sound financial principals for becoming rich and/or building wealth. I wish more schools would start hiring successful business men and women like Robert Kiyosaki as teachers so teens can learn, understand and incorporate these financial principles earlier in life.
Who is Robert Kiyosaki?
Here is what Wikipedia has to say,
“Robert Toru Kiyosaki (born April 8, 1947) is an American investor, businessman, self-help author, motivational speaker, financial literacy activist, and occasional financial commentator. Kiyosaki is perhaps best known for his Rich Dad Poor Dad series of motivational books and other material published under the Rich Dad brand. He has written over 15 books which have combined sales of over 26 million copies.”
I first got interested in buying investment property from watching those late night infomercials with Carleton Sheets and his “No Money Down” course.
Some of you may know what I am talking about if you watch TV late at night or real early in the morning.
Anyway, the more I watched his presentation the more it began to make sense to me.
I watched Carleton’s “No Down Payment” infomercial for about 2 weeks before I finally decided to order his program to see what it was all about.
When the package came I read every chapter, listed to the audio CDs and watched all the video tapes.
I was pumped!
I didn’t stop with Carleton’s course.
I began to research anything and everything about dealing with buying investment property from the internet.
I ordered books online and checked out books from the library also.
Eventually I bought my first house and my life as a real estate investor had begun…
In this article I will discuss a few benefits I received from buying investment property and how it made me a millionaire!
This was my first house and I lived in it for 4 years! It was a foreclosure and I bought it for $20k less than its market value. Completely paid it off in 7 years. When I moved I made it an investment property and rented it out!
CLICK HERE to see the program I used to pay off my 30 year mortgage in only 7 years!
You make money in real estate when you BUY not when you SELL”
Buy Investment Property And Create A Passive Income Stream
Maybe you have heard of the term passive income but don’t know exactly what it is.
A Passive Income stream is something that is developed after having to work hard at once.
And once you complete that hard work (task), that’s it.
Your work is done! The money will keep flowing into your bank accounts for the rest of your life … whether you work, sleep, travel the world … or even die.
Say for Example – Books, Music & Movie Royalties.
Royalties are the best examples of passive Income.
Robert Kiyosaki, the New York Times Bestselling author of the Rich Dad Series of Books, worked hard only once to write a great book.
Once the book is created, his job is over. He will make money even while he sleeps … without any further efforts. This is due to the that people will never stop buying his books.
Other Examples of Passive Income are:
– Rental Income
– Interest Income
– Dividend Income
– Online Income (Blogs, Websites, Affiliates Marketing … etc …)
– Royalties
– Network Marketing
– Business Income … etc …
In all the above cases, you have to work hard only once in order to develop that passive income stream. Once you complete your hard work, your job is over.
So after you buy your investment property your goal should be to always keep it rented. By keeping a tenant in the property you will collect a monthly rental income. Use your tenant’s rental income to make your mortgage payment. There is a little more to it but using this simple strategy your tenant will basically buy your house for you! Isn’t that wonderful? This is what we call using OPM (Other Peoples Money) to build your real estate empire.
Now once your mortgage is completely paid off and you own the home Free and Clear you will be able to pocket the majority of the income (minus taxes, insurance and repairs).
Think about it this way. What if you had about 10 houses that were completely paid for (mortgage free) and each house had a monthly rental income of $1200? That would be $12, 000 a month or $240,000 a year that you would collect for as long as the houses are rented. Would you still be working your same old job you are now?
Buy Investment Property And Increase Your Net Worth
What is your net worth and why is net worth important?
Your net worth is the total of your assets (property and possessions that you own) minus the total of your liabilities (money that you owe).
Your net worth is critical information. Knowing your net worth is the first step in organizing your personal finances and building wealth. But even more important as a real estate investor you need to understand how banks view your net worth. Keep detailed records of your assets on your balance sheet (excel document).
When a bank is reviewing your business documents, they’ll want to see that you’re paying careful attention to all of the relevant factors. At some point you may have to borrow money from the bank.
But before you receive any money from a bank, the lender will scrutinize both you and your business to see if you’re a viable borrower. So if you pass a credit check and you operate a healthy business, most banks will also require an additional, and tangible, guarantee that their loan will be repaid: collateral.
You may not have a high paying job or a lot of cash in the bank but if you have a lot of assets the bank will definitely consider that! Having multiple income producing investment property on my books has allowed me to receive large personal and business loans I know I would NOT have otherwise received from the bank!
Buy Investment Property And Build Wealth
Buying investment property is the rich man’s secret to building true wealth. Real estate normally appreciates (goes up in value) over time unlike a new car that depreciates as soon as you drive it off of the car lot! Let’s go back to the scenario I described earlier.
If you have 10 houses that were completely paid for (mortgage free) and each house appraised for $120,000. If you were able to sell each house for $100,000 you would still pocket a cool one million dollars! Not bad, especially since you started off with a handful of lint in your pocket.
Let’s face it, most people are not going to build wealth in their lives based on their salary only. Making a lot of money doesn’t make you wealthy! Unfortunately when you die so does your income UNLESSyou have created a PASSIVE INCOME stream! Are you going to leave your family a bunch of debt (liabilities) or wealth (assets)?
Yes, Investment Property Made Me A Millionaire
Using the techniques I describe above I became a millionaire on paper. That means although I don’t have a million dollars in the bank if I were to sell all my investment property at the current market value I would easily surpass the million dollar mark.
Buy Your First Investment Property Today
If you have not already done so, try starting with buying your own home first!
P.S. If you have enjoyed this article please make a comment or share with others!
Well today marks the 10th year that my real estate company, Lenoir Properties, LLC has been in existence. It is hard to believe that we have been in business 10 years already.
Lenoir Properties, LLC is a family owned business holding investment property all over the USA.
It seems like only yesterday when I decided to use Real Estate as my primary vehicle towards building wealth for me and my family. I am so happy that I made that decision 10 years ago. My only regret is that I did not start much sooner (like 20 years ago).
Don’t get me wrong, it was not always an easy ride. There have been some bumps in the road. Especially during the housing bubble and the mortgage crisis. Early on in my real estate investing career I made some stupid mistakes which led to me filing three separate lawsuits against former tenants. Only one case was dismissed but I won the other two. Thanks Judge Judy.
I must say in the beginning I wasn’t so sure I would be successful in real estate. But once I made my first purchase all the jitters disappeared and I knew I could do it. I started out with buying one little old house. My next purchase was a slightly bigger old house. Eventually I worked my way up to buying condos/townhouses and then small multiplex apartments. Once I began to acquire more properties and units I knew it was time to up the ante and Lenoir Properties, LLC was born.
Now is a great time to invest in rental property! A combination of low home prices and low interest rates make this an incredible opportunity to become an investor.
Looking for information on how to sell more real estate? You have found come to the right place!
In January 2012, a survey was conducted by an insurance company called Entitle Direct. The survey consisted of more than 800 real estate agents and brokers across the nation, 99 percent of whom claim real estate as their primary employment.
Out of those surveyed, eighty-eight percent of real estate professionals said they lost money since 2008 or are living off significantly less income. Many are dipping into savings to make ends meet.
The Real Estate industry has been one of the hardest hit in the past few years. Many agents lost their lively hood when their commissions plummeted because of the recession.
Do You Want To Sell More Real Estate?
I am a real estate investor so I work closely with several real estate agents that over the years have become good friends and business partners. Many of my friends told me that the mere “possibility” of making an enormous amount of money in the real estate market motivated them to pursue a real estate license and enter the real estate field.
Well in this post I am going to share with you a system that Top Realtors and real estate agents are secretly using to explode their sales. How do I know they are using it the system? Because I showed it to them. By incorporating it in their business and sharing it with their clients, it is generating massive referrals, increasing client retention and best of all generating an additional stream of income.
Sell More Real Estate By Differentiating Yourself From Your Competitors
Now the real estate field is more competitive than ever and agents are struggling with how to sell more real estate! With the continuously growing population of real estate agents, it is important to stand out from your competition. By introducing the worth account and showing your clients a way to pay off their mortgage fast you will have effectively separated yourself from everyone else in the field. Become a trusted advisor not just a sales person.
By Creating Loyal Clients
As a real estate agent you can sell more real estate when you go above and beyond your “job”. For example when you offer extra valuable services like the worth account, your client will become extremely loyal. By offering your client a proven solution to pay off their home quickly without having to change their lifestyle, makes you a VALUABLE resource. Your clients will see that you are TRULY interested in helping them with their finances and long term goals.
Sell More Real Estate By Increasing Your Referrals
Clients love to talk about experiences, both good and bad. By saving them money and helping them get out of debt with the worth account, your clients willingly, at no cost to you, tell all of their friends, family and associates about the amazing experience they had . Not only did they buy their dream house, receive great service but also learned how to pay off their mortgage quickly from you. Your referrals will explode!
By Offering Your Clients A Real Money Management Solution
This is the final component you need to sell more real estate. The worth account is a proven money management solution that will help your clients:
Keep more of their hard earned money in their pocket.
Own their home (that you sold them), free and clear, often 15 – 20 years ahead of schedule.
Build their equity 3 – 5 times faster than they could do on their own.
Allow them to plan for life events like retirement, college, vacations.
Live debt free
Sell More Real Estate By Offering the Worth Account
So you have not heard of the Worth Account? No problem, many new and even veteran real estate agents have not heard of Worth Unlimited or the Worth Account, yet!
The worth account is an online debt elimination system. I won’t go into a lot of detail because I have already written about it so check out my blog post “What is the Worth Account?” to find out what the worth account is and what it can do for your clients.
I hope this article has provided some useful tips on how you can sell more real estate and increase your income by incorporating the worth account.
READY TO SELL MORE REAL ESTATE?
If you are ready to become a Top Realtor in your area then click on the button NOW!
Now Go Forth And Sell More Real Estate!
To Your Success
P.S. What are you waiting for? Sell more real estate now!Start referring your clients and get paid to do it TODAY just CLICK HERE TO FIND OUT HOW!