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Become Wealthy - One House at a Time



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By : Patrick Esposito    99 or more times read
By now, most people know not to depend on the get rich quick schemes. If it sounds too good to be true, it probably is. The only place where success comes before work is in the dictionary. If it is so easy, why isn’t everyone doing it? These are all valid statements. The more we want something, the more we want to believe it is true. There comes a point when you want it so bad, you start to believe it could be true, and maybe, just maybe, this could be your rainbow. If you believe, and have enough faith, you have the power to make it come true. Right? Maybe. If you have faith, many things are possible. But the best way to chase wealth is to go where many have gone before.

It is no secret that real estate investing is responsible for making many people wealthy. Real estate investing is not getting rich quick. You can get rich, very rich. You can take your real estate investing skills, knowledge, and experience to whatever level you choose. Real estate is a legitimate vehicle for creating financial security. The biggest obstacle standing in most people’s way is getting started. Yet, by procrastinating, and waiting until the time is right, you lose the advantage of time. The sooner you get started, the sooner you will reap the benefits, and the more you will ultimately achieve.

There are many benefits to owning your own home. Most people realize that. Let’s go beyond that and discuss the reasons for purchasing one investment property. It does not have to be a commercial building, or an apartment building. You can purchase one residential property and it can prove to have many benefits. Some benefits of purchasing one residential property:

  1. Income: We can all use a little extra income. How would you like an extra $50 a month to spend as you wish? How About $100 or maybe $200 or more?

  2. Depreciation: As time goes by, and our country sinks more into debt, it is almost a certainty that we will be taxed more. Put yourself into a position to have the appropriate tax write-offs.

  3. Equity Build-up – In an appreciating real estate market, equity build up is like money in the bank. Every time you make a payment, you are paying down principle owed, and building equity.

  4. Appreciation - Appreciation is the twin sister of equity build up. They both build equity, so you get the double benefit.

  5. Leverage - Real estate has the benefit of making leverage work for you, where you can start with little and accumulate much. You can purchase a property with only 20% of your money or less, and use borrowed funds for the rest. Leverage has helped make many investors become rich.

We can see why real estate is the ideal investment. Start small and think big. But start. If you are limited on funds, don’t be limited on vision. Use this time to learn, and get motivated. The more you learn, the more you will recognize good investment potential. When you do, you will be in a better position to take advantage of that great deal. Remember to always be an informed investor.
Pat Esposito has been involved in real estate for 28 years as an investor, trainer, and consultant. He is the author of The best Investment You Can Make, and The Informed Real Estate Investor and is the founder of www.TheInformedRealEstateInvestor.com

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