Real Estate can help with Many things such as achieving passive income which can help with retirement, it can help you buy more real state to make even more money or you can do it to just put some money in your pocket.
Now let’s say you bought a building during COVID in a relatively good area, right now that building would most likely have gone up in price meaning you would have equity. What’s equity you may ask, well its when the price of your property goes up or is worth more the bank will let you borrow more money for another property so that if you can’t pay for the new property you can sell the old one so you can. Now if you bought a building and put 20% down on It (Try to always put at least 20% down on a property) you should try to rent out the property so you can pay the mortgage.You should most likely have it payed off in 20-30 years depending on how much you pay or put down. But once it is payed off you can keep renting it out and have it be making money with you barely doing anything, and if you do this over the years with multiple property’s you will have money coming in with you doing almost nothing. To put this in perspective if you have 5 property’s making you $10,000 a month (which is realistic amount of money) that’s $600,000 a yearly. Now I know I am making it sound easy obviously there will be other expenses that will go along with this but over time you can achieve passive income and not have to worry as much about money especially when you start young. The Younger you start the more you’ll make and closer you will to be making passive income.
I hope this post helps you with your real estate journey.
