When it comes to real estate, don’t get ahead of yourself. As tempting as it is to buy your first property (or buy more), it can be your biggest blessing or your worst nightmare.
I’ve spoken with too many people who’ve ruined their credit and are now being robbed of their income because they jumped into real estate deals that went belly up
What I’ve seen is the temptation to buy real estate a little too early.
After all, so many people on the internet are talking about what a great investment real estate is. You might as well get in on some? Be careful
What does buying’ too early’ mean?
You’re not financially prepared for the risks of real estate. For example, a client of mine had a renter vacate during COVID.
The $1200 apartment has been sitting empty for 4 months, and she’s had to put $3000 in for repairs. That’s a $7800 loss. (ouch) Good thing she has a safety net in place, and the loss didn’t come out of her own pocket or get put on a credit card.
Some people cash out their retirement funds to get in on a deal. Although the ROI on real estate is higher than retirement interest, it’s also subject to more volatility. And as a side note – when you cash out your retirement funds, you pay taxes on it plus a penalty
I always ask my clients these crucial questions to grow their wealth through real estate (homeownership, being a landlord, flipping, etc.). I want you to ask yourself these Qs before you think about getting into a real estate deal
❓- Do I have a fully-funded emergency fund and retained earnings to keep me afloat for 3 – 6 months if the bottom falls out, and I stop earning income?
❓- Do I have all of my insurances in place and the coverage I need so I’m transferring risk and don’t go bankrupt or in serious debt if something were to happen?
❓- Am I out of debt?
❓- Am I investing in my retirement?
❓ – Am I investing in my children’s education?
❓- Is my monthly cash flow planning showing me that I can comfortably afford a real estate property and all the expenses that come with it
If your answer is YES to these questions, cross your Ts, dot your Is, sign on the dotted line and close that real estate deal, my friend.
And don’t forget to keep 10-30% of your investing capital for forex investing, as it’s a highly lucrative aggressive form of financing.
You’ll find that the Wealth-4-All PAMM account is excellent for this.
If your answer is NO, then let’s get to work and get you to a YES.
Because that’s what the W4A PAMM account is all about. Growing your funds quicker to invest in other areas and or give you a passive income.
It can support both if done correctly.
You invest 10-30% of your portfolio (unless you don’t have one, In which case you invest what you have put aside.) and watch your funds grow.
What you should do right now!
The W4A PAMM account is all about growing your funds quicker, enabling you to invest in other areas or provide you with a passive and steady income.
To serve my clients equally well, I have set a limit of 100 high earning accounts. Once those are complete, the doors will close forever.
Don’t let this opportunity pass you by, click here now and apply to become one of only 100. Your future self will thank you!