Products You May Like
This is my take on The Book on Rental Property Investing, where I summarize the, in my opinion, most important advice of Brandon Turner. Get the full book, or head over to the BiggerPockets forum if you want to learn more about real estate investing.
A playlist of books that will help you to reach your financial freedom goals faster: http://bit.ly/38Z6I0Y
Top 5 takeaways from The Book on Rental Property Investing:
00:50 1. Why you should become a rental property investor
02:35 2. Why you shouldn’t become a rental property investor
04:44 3. The four wealth generators
07:09 4. What makes a good deal?
09:45 5. How do I find good deals?
TL;DW:
– Rental property investing has many upsides, such as the ability to use leverage and the ability to hustle for your returns, buuuut …
– … rental property investing also comes with its own downsides, such as the fact that the wealth building process takes a considerable amount of time, and that you’ll have to deal with difficult people
– Rental property investing generates wealth through appreciation, cash flow, tax advantages and loan paydown
– A good deal is one where you have a positive cash flow, preferably as high of a CoCROI as possible
– Look for properties with problems that are easy to fix, but that scare away the competition, nonetheless. Your future bank account will thank you for it.
My goal with this channel is to help you make more money and improve your personal finances. How to become a millionaire? There are many ways to get there – investing in the stock market, becoming a stock trader, doing real estate investing, or why not becoming an entrepreneur? But whether you are interested in how to invest in stocks or investing strategies for creating passive income with rental properties – I hope to be able to provide you with a solution (or at least an idea) here. Warren Buffett – the greatest investor of our time – says that you should fill your mind with competing ideas and then see what makes sense to you. This channel is about filling your mind with those ideas. And in the process – upgrading your money-making toolbox.