I have found investing in housing to be very rewarding, with only a small amount of my time invested in doing so.
The beauty of it is using other peoples money.
Another words you buy a house, get it rented out and have the rent payment pay for all the expenses, maintenance and the mortgage payment.
No money out of your pocket.
I had a friend of mine, I met at a real estate seminar introduce me to an interesting book, "Rich Dad Poor Dad".
Reading the Rich Dad Poor Dad book, writtenby Robert Kiyosaki, was a turning point for me in discovering how it really can work and the right way to buy and rent.
A must read for anyone interestedinvesting in real estate or big business.
So helpful in financial education and understanding how money works.
There are many benefits in getting your financial education.
Financial literacy will go a long in helping you make better informed financial decisions.
Learningwhat good debt and bad debt is.
Good debt will make you money and bad debt is anything that does not make you money.
Boats, motorcycles, ext.
Many people think their biggest investment is their own personal house.
If you stop and think about it the bigger the house the higher your repair costs, taxes, bigger mortgage payment and utility bills are.
You are paying for that out of your pocket.
Where as the rental property expenses and mortgage are being paidfor by the rent payments, if you bought and set it up the right way.
Not saying its all bad to own a nice house.
It may appreciate over time and you can gain thatway, meanwhile you still need to pay for all the expenses.
My first rental property I bought I learned a lot.
I did not buy it right in the aspect of having it pay for all the expenses.
It was a nice single family home in a niceneighborhood.
The mortgage was set up for ten years making it a higher payment, the rent did not cover my mortgage payment let alone the taxes, Insurance or repairs.
That's not all bad because of the fact, the sooner you pay it off the less you pay in interest and gain in equity a lot faster.
If you only plan to buy one ormaybe two rentals this could work for you.
But if you are looking to get a lot of value, faster.
It would make sense to buy in a way that you are not paying foranything out of your pocket.
It just depends what your plan for investment is.
The Rich dad education got me interested in discovering a great way to get ahead, and gain in long term wealth.
First get the education needed to build long term wealth.
Have a plan that works for you and get out there and look for properties thatmake sense financially.
Not all houses will make sense, just move on to the next one.