Wealth Retreat, Or Retreat From Wealth?
What’s up with people being so set on ignoring basic principles of real estate wealth creation and insisting on perpetual student-hood instead?
We attended a workshop recently during which many attendees approached us, asking when and where we will be doing <em>our next seminar</em> … and no, we had not mentioned anything of the kind! What we were discussing however, are properties that we have available on assignment of contract at a heavily discounted price that produce positive cash flow. These are producing income <em><strong>right now.</strong></em> You don’t need to enroll in a $40,000 course to get them, either. It’s as simple as selecting the properties you want to buy, getting them under contract, and writing a check.
Real estate is actually pretty simple. Buy properties that cashflow, and sit on them long enough to appreciate in value and get paid either tax-free in the form of refinancing or 1031 exchanging, or by selling them for a nice gain, or just keep them as rentals, or sell them on owner financing and let them support you for the rest of your life. “Little”</a> properties are perfect for this. It’s not that complicated.
But many wannabe investors think little just isn’t big enough. They want the big bucks promised by the suits. There’s nothing wrong with that — go for it if you want to, I wish you success! Just please don’t dismiss the possibility that a portfolio including nice cashflowing properties could provide the income and low risk that’s currently missing.
There is also nothing wrong with seminars. Fast forward five or ten or twenty years down the road though: do you want increased net worth through gradual and well-thought-out acquisition of real estate, or simply a scrapbook full of your attended seminars? If you want real estate, great. If you want to buy real estate AND seminars, wonderful. If you <strong>exclusively</strong> want seminars, you frighten me.
About the Author
I'm Shannon Gunderson and I'm a professional real estate investor, artist, writer, and more. In over two years of being "unemployed", my partner Jonathan van Clute and I have invested in residential real estate in 8 states and have bought more houses than we ever dreamed of. We are creating the life we have always wanted and will never again be at the mercy of a paycheck. We love to help teach what we do, which is why among other things I write on our blog. I love to get feedback, and would be happy to hear from you!
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