What do the majority of wealthy Americans have in common?
They own investment property...
You don't have to be rich to get started investing in real estate - but unless you do get started, you probably won't ever be rich.
There will never be a better time to invest in real estate than now! - Most people make the mistake of waiting for someday/maybe buy investment property - I I believe that this is a BIG mistake!
If you are currently renting - I recommend that you start by purchasing your own home first. Buy a duplex or triplex, or at least a house with extra room that you can rent out. This will allow you to begin building equity (that you can use to purchase more rental property with) while your renters pay down your mortgage for you. ;-)
This is the essence of investing in real estate - having renters pay your mortgage while you grow your equity!
(I model the "Rich Dad" philosophy for building wealth)
Once you have a little equity (in your home)the next step will be to buy investment property - either in your home town (if you want to manage it yourself) or in another appreciating market - that has onsite management.
There are advantages to both of these.
I own both Minnesota Investment Property as well as Florida Investment Property and although my Florida properties have onsite management, I choose to manage the residential rental property myself.
Get a free copy of "The Investors Rental Guide" by enrolling in my FREE "Investment Property Program" - this guide will save you tons of time, money and frustration when buying investing property that you intend to manage yourself.
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