What’s in Your Wallet; How to Make Money Through Investment Real Estate
“Money does not grow on trees.” my parents often said to my brother and I growing up.
I am sure this saying is not an original Mom and Dad proverb; many of your folks may have had this as a saying in their paternal life lesson toolbox.
My Dad was a proud member of the Armed Forces for 25 years, and when he retired from the forces, I didn’t think he would find a career that he loved as much as the forces.
He did, and a career in Real Estate filled out the rest of his working life. Not long into his new job my Dad invited me out for a coffee. My Dad opened the conversation around the saying; Money does not grow on trees. I said, “I know Dad, and I have a job and don’t need your money.”
This lead to a discussion about how trees turned into money through investment real estate. Dad went on to spin a story how most houses constructed from wood that comes from trees. I had a good laugh and asked him where he was going with this story. Dad had a way of spinning words into a life lesson tale.
A duplex had come on the market and Dad, and Mom wanted to buy the entire property; both sides. They were going to live in one half and get my wife and me to become partners in the other half of the property. The goal was to find tenants for the other half of the property.
Investment real estate can be a rewarding part of your financial portfolio; and a way to start your journey on creating sustainable wealth.
Lessons Learnt
- Start Your Investment Real Estate Career with your parents if possible
- Lenders are happy to give you 80% of the funds to purchase if you provide the correct information; income statement, net worth statement, reliable income, (link to my blog; Don’t Give Up Your Day Job; https://www.vaulttoinvestmentrealestatesuccess.com/blog/dont-give-day-job/
- How to purchase investment real estate.
- Good tenants are easy to find and happy to rent a lovely property.
- Know your numbers and create positive cash flow.
- Lower your risk; buying a multiple door property; duplex or bungalow with income suite.
- Long-term Buy and Hold Strategy; time goes by fast and is on your side.
- Build a Celebration Routine each year you own your investment property; to give yourself thanks for stepping outside of your comfort zone.
Our Celebration Routine
Dad and I were sitting on his deck on the 1st-anniversary date of purchasing this investment real estate property and were talking about, ” Money Growing on Trees.”
I am not sure if it was the beer or the excitement we were doing well with this property; Dad said; “Why don’t we pick a leaf off the tree in the backyard and put a leaf in our wallets.”
The idea of picking a leaf each year turned out to be a great moment, and for years Dad and I would replace our leaf in our wallets with a new leaf. Raise our glasses and say;” Who says money does not grow on trees.”
As Samuel L. Jackson says; “What’s in Your Wallet.”
About the author, W. Rick
Dynamic entrepreneur and sales management strategist; with over 20 years of experience in his field. Rick has achieved multimillion-dollar sales growth while providing award-winning sales leadership and coaching in highly competitive markets.
An active real estate investor since 2002, Rick has developed his purchasing strategies and processes specializing in vacation and recreational properties, single-family homes and condo rentals.
In 2005, Rick re-financed his first rental property to fund the purchase of more positive cash flowing rental properties.
Rick sits on the Board of Directors for several condominium associations and is an active President and Treasurer. Sitting on these boards has given him a wealth of experience and insight into working with property management companies.
Rick has partnered with several joint venture associates and is committed to creating a positive investing experience for his associates by finding the properties, developing the investment, securing the financing and executing a proven positive cash flow system.
Why should you choose Rick as your Online Vault to Investment Real Estate Success Advisor?
An outstanding mentor and coach, Rick will work with you to build your investment real estate business starting from the foundation. From guiding you through the market research and critical drivers, building your team of trades, realtors, and lenders to attracting the investment real estate properties right for your portfolio and the joint venture partners to help you grow.
Through direction and training, Rick will help you develop your investment real estate goals and be a catalyst for you to purchase your first investment real estate property so you can build a strong financial foundation unlocking sustainable wealth and a living legacy for you and many generations to come.
Thank you for taking the only asset that gives us so much through life, but we can never get back our time.
Please join Rick on living his mantra:
” Prosperity for all aspects of your life forever.” W. Rick Harris