In this video I am going to talk about how to invest in real estate. Whether your goal is financial independence, generating passive income, early retirement, or wealth creation through owning an investment property. I am certain you can find some great tips in this video. I love real estate investing and I own several rentals, so in this video I am going to share with you my real estate investing strategies and how to make money with your real estate investment and learn how to make passive income and learn how to retire early. This video is also for real estate investing for beginners or in other words real estate investing 101 and learn how to generate passive income for beginners. Many people who are part of the financial independence retire early movement or FIRE movement invest in real estate. Real estate investing in 2022 doesn’t have to be a challenge even if you are a first time home buyer. Based on my personal finance background I will share with you some ideas on how to save money, passive income ideas, the BRRRR method for property investing and how to turn that rental property into and income property. I hope that you enjoy this video.
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Today we are going to talk about how to retire early from real estate investing. I love talking about this topic because I have been investing in real estate for the past 13 years and I can tell you that from my experience, real estate investing is one of the best methods for generating passive income and achieving financial freedom, leading to the opportunity to retire early. In this video I am going to share with you the strategy that I used to acquire my rental properties and how to generate enough passive income from real estate investing to give you the freedom to get out of the 9 to five grind and retire early. So let’s jump right in.
For most people, investing in real estate seems like a daunting task. However, I’m going to share with you what I believe to be the best strategy for real estate investing with the least amount of risk. I think that for most people who are just starting out, the biggest hurdle that they have to overcome is saving up enough money to cover the down payment on the property that they want to buy. Let’s face it, houses are not cheap and saving up the money for a down payment on your first property can be challenging. You may have to work a few more hours at your job or cut back on some your expenses in order to get to this first step. Another option is to get a side hustle. If you don’t really have any ideas on side hustles, I created a video on side hustles that actually work, I will link to it above and in the show notes below. One thing that my husband and I did when we were getting married, is instead of the usual wedding gifts that many people get for their weddings, like dishes, towels, vases, basically things that will break or go out of style, we set up a house fund at a bank and asked our guests to make deposits in the fund instead of buying us gifts. This helped us cut down on the amount of time that it took us to save up a down payment for our first house. In order to know how much money that you will need to save up for a down payment, begin looking at houses in your town and city. Look for houses that are maybe a little bit older and could use some updates and repairs. Nothing major though. Mainly you are just looking for repairs that are mostly cosmetic. Things like painting, or updating the kitchen or bathrooms. Or maybe the house needs some new flooring. These types of minor renovations will give you the biggest bang for your buck when it comes to increasing the value of the property.
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Once you have scouted out some properties in your town or city and have a good idea of what they cost, you can do some quick math and determine how much you will need to save up approximately for the down payment. A good number to aim for is around 10%-20%. Remember, not only do you need to save money for the down payment, but you also need to have some money saved to cover the cost of the renovations. The reason that you want to buy a house that you will live in for 12-24 months is that it is your primary residence and when it is your primary residence the initial down payment will be lower and if you are a first-time home buyer it can be even lower.