Fixer Jay's Mom & Pop Millionaire Blog
Making money with real estate anytime, anywhere
BUILDING MONEY MACHINE
Nothing comes ahead of cash flow! If you have it, you can continue to grow. You can transition from smaller properties to larger ones or fixers to pride-of-ownership. You can use your cash flow to buy mortgages for passive income or take a trip around the world. Cash gives you choices!
When you own the houses, you have your own personal money machine! Obviously, you must maintain the property and provide the necessary management. But, in exchange for doing that, you control the money. It’s yours to spend any way you choose. The basis for wealth behind nearly every rich person can be traced, back to the ownership of a patent, a copyright or a deed! Owning income real estate puts you in with the right crowd.
In terms of investment risk, rental properties are about the safest kind of investment you can make. Residential renters are easier to attract than commercial tenants. Houses are considered a basic necessity of life. The risk of loosing your investment houses, with any equity, is almost nil. Buy them right and structure the financing so your tenants can pay them off and you’ll be very well rewarded for your initiative.
Houses aren’t glamorous like shopping malls and high-tech commercial buildings but they are far better suited for investors, who start with very little cash and no reserves.
Most investors and wanabees are better off to stay away from strategies that sound slick. Over the past 10 years, I can recall the names of at least a dozen so-called investment gurus who expounded the virtues of a wide assortment of “get rich” techniques. Most of these pitchmen are bankrupt or working at a filling station today.