Hello World! Welcome Friends! In modern times there seems to be one thing we are all working towards; financial freedom. The one problem we will often find ourselves faced with is discovering a way to get to the point of financial freedom without killing ourselves during the process.
In today’s post, we are going to be taking a look at investing in property and why becoming a landlord could be one of the best things you will ever do on your path to financial freedom.
Why Property Investing?
When it comes to the world of investment, it can often be a shaky one. There are certain places you can put your money, and you will be left with a great deal of uncertainty. Now, while investing in property may not be 100% safe, it is one of the best ways to apply your surplus cash should you want to reach the point of financial freedom.
If you take the plunge and find yourself becoming a landlord, there are still a few things you should know, and we are going to attempt to highlight a few of these things throughout the remainder of this post.
Look Out of Town
Once you have reached the point where you are able to secure a mortgage on your second property, you will need to think carefully about what location you should be looking at. A lot of landlords nowadays tend to keep things as close to home as possible, as this makes things easier to manage.
What you may wish to consider, though, is finding a property that is some distance away. More often than not, if you find something out of state, you will be able to find a cheaper property. Of course, for some, this may be problematic when it comes to tenancy management and property maintenance. If you want to tackle this head-on, you should be looking for companies that offer a wide range of property services. Once you have a reliable company on board, you can sit back and enjoy the life of a landlord.
How Quickly Can You Be Financially Free?
Well, when it comes to property investment, this will all depend on the length of your mortgage. If you have a 20-year mortgage and you invest at the age of 30, then by the time you reach 50, any income you have from your rental property will be extra income.
For many people, they often choose to invest in more than once rental property. By doing this, when retirement finally comes around, there is enough money coming in to ensure a very comfortable life in your later years, and you will never have to worry about money again.
The final thing you need to remember is this, not only do you have a source of income, but should times really get tough, once the house is paid for, you have a large chunk of equity that could be released whenever you see fit.
So, when it comes to investment, property may be the best way forward for you and your extra cash.
Click the links below for any posts you have missed:
The Best Materials for a Stylish Home
Create a Hampton Style Living Space
I’d love for you to join my email list! You’ll receive a notification straight to your inbox once a week on Monday which will include links to party posts and my home project posts! Simply enter your address below.
Thanks for stopping by! Have a wonderful day/night depending on where you are in the world! Go with God and remember to be kind to one another!
Toodles,
Hi, Investment is a key to protect the money. Your blog is nice and I like the idea of renting the property so that the passive income will come. Awesome pictures and very nicely draft the article. Thanks for sharing!
Real estate is an asset class that belongs in every serious investor’s portfolio to provide diversification and reduce overall portfolio risk. One of the ways to accomplish this is to invest in rental properties for monthly cash flow. Buying an investment property is very different than buying shares of a real estate investment trust.