Real estate is my favorite asset.
Full confession – after reading Rich Dad Poor Dad my entire mindset on business and life changed. I understood passive income as the crowing jewel in a professional investors life, and I needed to have it.
I gained experience in the real estate industry by working as a project manager for a local private real estate investor. My responsibilities involved handling tenants, ensuring everyone pays, filling vacant rooms, attending to the landscaping – normal property management items which helped grow my confidence and competence. Fortunately my cost of living was extremely low since I lived in the very property I was managing. This lifestyle supercharged my savings rate to eventually buy my first multi family investment property (a duplex) with only 3.5% down through an FHA loan.
Naturally I called my new company Leverage Capital LLC because I was highly financially leveraged on this deal. But it needed to happen. I HAD to get into the real estate/business game, so I did it.
I’ve been successfully operating my duplex for almost two years now, attending to capital expenditures, growing my marketing career, and stacking cash for another investment.
The real estate bug has bitten me – the power of real estate and cash flow is a game changer. An investor has way more control over the outcome of his business in real estate than he ever would by putting his money in the stock market. Real estate is local, and it’s a real thing. It’s not some computer generated data point like stocks.
*I am not a financial advisor and I do not play one on the internet*