Steps
- You can accelerate your LIFE SAVINGS PLAN by buying and holding income-producing real-estate.
- Right now, it?s very simple:
- STEP 1. If you don?t yet own your own home (but would like to) BUY one now and LOCK in the interest for 30 years.
- Why?
- Home prices are relatively cheap (if you think they will get cheaper then wait a little longer ? if you?re not SURE they will get cheaper, buy now).
- Money is cheap - mortgage rates are probably 2% lower than they will be by 2009 or 2010.
- You want to keep buying that cheap money for as long as possible ?
- ? but, only IF you are prepared to take the next step, which is to ?
- STEP 2. Assess the increased / excess equity (what your house is worth - what you still owe) in your house yearly and use that excess equity to buy another as soon as you can scrape up a reasonable deposit (20% if you are conservative).
- STEP 3. Lock in the interest rates for 30 years; rent the property out; keep raising rents; reassess the value of all of your properties yearly.
- STEP 4. Repeat until Rich!
- Now, this will take 10 to 30 years ? to accelerate: start that little (or big) side-business that you've been thinking of and use the excess cash-flow to buy more investment properties rather than Porsches!
- Simple ? and, you couldn?t be starting at a better time in history!
Warnings
- Read some GOOD real-estate books
- Speak to your financial advisor
- Research thoroughly
- Don't take on more debt than you can afford
Sources and Citations
- The 4-Step, Never-Fail Plan To Making A Fortune In Real Estate - Original source of this page. Shared with permission
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