WHERE’S THE MONEY

This is a great article by Real Estate Expert, Dave Lindahl, on how to use real estate investing to build wealth.

To many, the American Dream is still just that, a dream. While some people succeed, achieve their dream and go on to enjoy great success and prosperity, others do not. Most end up spending the whole of their lives toiling in low-paying, under-appreciated jobs while dreaming of a better way of life.

As we get ready for Labor Day—the national holiday dedicated to paying tribute to the contributions American workers have made to the strength and prosperity of our country, let’s give pause to think about what it takes to help ourselves succeed and flourish too… How can we each get our own piece of the American Dream.

As you know, I’ve gotten my piece of the dream with real estate. The secret to making (and keeping) money is to invest in property. The need for property never ends and it never changes. As long as people need some place to live and work there will be a demand for land. Real estate can be a very rewarding business, both financially and personally. Take for example the satisfaction of purchasing a property at a low price, rehabilitating it and turning it around to become an income-generating machine—very satisfying.

One of the best ways to make money from real estate is to purchase a multi-family property, rehabilitate it, rent it out and allow it to generate a passive income for them indefinitely. The more property an investor is able to accumulate and get to work for him or her in this manner, the more income the investor is going to be able to enjoy.

The problem (as anyone who has ever attempted to purchase a home can tell you) is that buying property, even property that needs to be rehabilitated, does not come cheap. And you certainly do not want to find yourself trying to climb out of a mountain of debt from spending too much money too soon and too fast.

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This article is intended for informational and educational purposes only and is not intended to provide, and should not be relied on, for investment, tax, legal, or accounting advice. The information is provided as of the date indicated and is subject to change without notice. Viking Capital does not have any obligation to update the information contained herein. Certain information presented or relied upon in this article may come from third-party sources. We do not guarantee the accuracy or completeness of the information and may receive incorrect information from third-party providers. All tax strategies discussed herein involve complex rules and regulations. Investors should consult with qualified tax, legal, and financial advisors before implementing any strategy.

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