This is the fastest way to purchase your first rental property
If you don’t already own real estate, you should definitely be thinking about it.
- Over 80% of people with a net worth of $1 million or more acquired this wealth with real estate.
- Real estate is the oldest source of wealth. Even the richest man in the Bible, King Solomon, built his fortune with real estate.
- There are a number of states where you can pick up a piece of property with only a few thousand dollars out of your own pocket.
What is the fastest way to come up with the money to buy a rental property?
If you saved $500 per month for three years in a Wells Fargo savings account you would have $18,018 at the end of the three years.
Now, if you took that same $500 a month in invested in the stock market for three years, based on the current 1-year return of the S&P 500, you would have $23,376 at the end of the three years.
To wrap it all up, if you want to be in a position to acquire rental properties fast, you need to get high returns on your money. Historically, nothing has offered better returns than the stock market.
Now there are additional step to purchasing a rental property besides just having a down payment. Your credit has to be right. You need to have enough extra income to cover vacancies and repairs.
That’s why I put together a FREE 3-part video series titled Bible Money Makeover. I want you to be in a position to take advantage of investment opportunities like this. Click here to start learning how you can boost your credit score, increase your income, and build your investment portfolio.
Here’s a legal disclaimer I have to give you: This blog is a resource to be used for educational and informational purposes only. This does not take the place of professional financial advice. No information on this blog creates an advisor-client relationship between us. If you’d like to get professional financial advice visit Greenfinancialsolutions.net or give me a call at 424-253-6486.
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