Increase your income, be your own boss, and create financial freedom for you and your family.
You’ve probably heard it before but here it is again, investing in property is a great way to boost your income. An income property can be a one-bedroom apartment, two-bedroom house, or a small cottage that you plan on renting out on Airbnb.
More and more people are catching on to the benefits of purchasing investment properties, with the most popular option being buying to rent, whether it be long-term or short-term holiday rentals.
Even if you don’t yet own your own home, investing in property can be a healthy investment. Perhaps you could even live there and later rent it out? The possibilities are endless.
This blog is designed to make the case for why you should consider taking the leap.
Warren Buffet once said that in order to be rich you must have at least 7 separate streams of revenue. Of course, one of the best and easiest ways to add a revenue stream is to acquire an income property. Whether you choose to buy outright or take out a loan from the bank, the initial property investment will provide you with consistent income for years to come.
Many people think investing in property is complex. It doesn’t have to be, it’s relatively straightforward and accessible to more people than you may initially think. Speak to a mortgage agent and you might be surprised at the availability of options.
Like previously stated, you have options. The main goal is to create multiple pathways for success. Two of the main revenue routes are: rent it out or renovate and sell.
Renting out a property is a hot option – allowing you to receive almost instant income on a consistent basis. This is that capital flow that most entrepreneurs love. It’s money coming in consistently allowing you to pay your bills and increase your access to more capital.
To be extra clear, renting out a property over the long-term is believed to be the best method, as this allows you to pay off any mortgages. Once it is paid off, you can either continue to rent with less overhead or sell the property for a healthy profit.
You can also live in the property, perhaps renting it out yourself once you’ve paid off the mortgage.
Many of the greatest investors alive consider the current stock market to be as complex as it’s ever been. The same applies to Bitcoin and other cryptocurrencies.
However, property is brick and mortar – it continues to be a solid financial investment. Commercial property is a different story but we will save that for a future blog. With inflation rates on the rise, this means your property is likely to be worth more money in several years.
So, even if you bought the property and didn’t touch it for three or four years, you could still turn a profit.
Here it is, one of the most exciting things (some may say) is the opportunity to be your own boss. Why does that matter? It matters to some people because it represents freedom, success, and the autonomy to make your own decisions.
Managing tenants, listing properties, and so forth can be fun, exciting, and an excellent way to build a sustainable future.
Whether you decide to invest alone or with a partner, there is plenty of money to be made.
Investing in property has never been easier. In fact, at Good Manors, we have a wide range of properties available, all of which are ideal for investors.
So, take the leap today and invest in property – become your own boss, manage tenants or flip your first home, and experience a healthy return on investment while having an absurdly fun time.