Truth Bomb Tuesday: You don’t have to do it alone. You don’t want to.
We all want the same things:
Good friends, someone to love, decent wifi, and the time to do whatever we want.
The first three are free (my local café has excellent wifi if you buy a muffin.) But unfortunately, time is not. Time is money. And if you want control of your time, you’re going to have to come up with the money first.
One way or another.
If you were lucky, you were born rich. If you are wealthy enough to never have to work, then you have control of your time, and it’s all “Set a course for the Caribbean, James.”
But if you weren’t born rich (like me, and most people on the planet), then you’re going have to come up with some sort of system that generates income, without putting a drain on your time and energy.
You’re going to have to come up with a way to generate “passive income.”
In my experience, property investing is the easiest and most effective way to generate passive income. Stocks and bonds are slow, and building a business is hard (I thought it was easy until my business partner ran off with all the money!).
But anyone can find freedom through property investing.
But! (There’s always a ‘but’ isn’t there?)
But not everyone’s property investing journey ends in passive income and freedom.
For some people the road ends in just one investment property that barely covers their expenses, while the bank tells them that they’re not going to lend them anymore money.
The journey ends in a dead end.
For some people, they take the hand of their accountant who tells them that negative gearing is the best way to save on tax, only to realise that negative gearing is a fancy
word for ‘losing money’, and no system of passive income I’ve ever heard of was built on ‘losing money.’
And for some people, the journey takes them in over their heads. Their properties are bleeding cash, they’re up to the eyeballs in debt, and they’re hocking off everything they own just to stay solvent.
And sadly, for some people, the journey ends in bankruptcy.
And so this is what they don’t tell you: there’s a secret to getting property investing right.
It’s not rocket science. You don’t need a degree from Harvard Business School to make it work.
But it is a well-worn path. People have been there. (I’ve been there.) They’ve figured out what works and what doesn’t. They’ve figured out what strategies end in passive income and pińa coladas; and what strategies end in bankruptcy and bitter tears.
Over the past 30 years I have perfected what I think are the simplest, most-applicable strategies for building wealth and financial freedom through property investing.
And I haven’t done it alone.
I have trained thousands of students over the years through the I Love Real Estate community. And those students, once they reach the top of their game, are constantly innovating. They are constantly coming up with ways to increase the yield or increase the cashflow on every deal.
Or they’re coming up with entirely new deals altogether!
And so what I’m able to teach is the result of thousands of wonderful minds putting hundreds of thousands of hours of thought into how to do property investing right.
If you’re looking for a magic bullet, I’ve got nothing to offer you.
Yes, you have to put in the work. You have to be focused and committed.
And yes, sometimes that involves growing as a person – moving beyond limiting beliefs, and telling a new story.
But you don’t have to do it alone.
There is a formula that works.
It took us thirty years, and it’s constantly evolving, but we get how the game works.
Is it time to make it work for you?
DB.