Everybody wants to invest their money and become financially free, but what should people be investing in? What should you be investing in?
In today’s episode, we’re not going to talk about all the kinds of investments under the sun, but we are going to talk about the investments that can give you financial freedom. There are a lot of options to make millions and it’s better if you have an idea about them before you get involved!
Listen now to learn more about real estate investing, the different strategies and facets of real estate, and other investment options you have outside of real estate!
Quotables
“First off, we don’t give recommendations because every person has a different, unique situation. Second, it really depends on what you want to do.”
“It’s not worth it to get into mutual funds because there are higher risks and mediocre returns.”
“Even if you save up a million dollars in mutual funds, you’re only supposed to pull out maybe 2-3% a year and that’s it.”
“You pull out too much, you run out of money quickly.”
“Honestly, real estate is probably one of the best places you could put your money.”
“In most cases, especially when you’re buying the actual property, the tax advantages you get will allow you to keep most, if not all of your returns.”
“Cash flow is what we bank on. We don’t bank on appreciation, cash flow is the key thing.”
“Here’s the cool thing too – because of inflation, rent prices go up, so you can raise rent each year. And as time goes along, rent prices generally increase which means your rent and your income increases, which means you get an inflation hitch.”
“If you buy rental real estate, you get tax advantages, cash flow, equity, and appreciation.”
“Many people trash real estate because they think that real estate’s gonna tank because they remember the last recession. In the last 6 recessions, that only happened once.”
“In most recessions, real estate either stays the same or appreciates.”
“If you buy real assets, you really get into things that have tangible value, things like real estate, like oil. Prices can go up and down just like in anything, but there’s still something that you own.”
“There are millions of ways to make millions of dollars. Do you really think that you have to keep doing stocks and mutual funds to get that result?”
“That’s the one thing you can count on – that you will not be able to create enough wealth to be happy or to be financially free unless you live like a pauper in retirement.”