When should you start building wealth through real estate? The simple answer is NOW! There are 2 ways to live your life with money, either you live to work for money or you let money work for you.
The first way is living pay check to pay check and living to make money, then spend money only to make more and the cycle continues.I have shown hundreds of people how to let money work for you through investing regardless of your income level and your ability to save.
Letting money work for you is the only true way to building wealth, and the only safe and quick way to accumulate wealth is through real estate investments. We are in one of the most incredible times to accumulate wealth through real estate because of the strong markets and low interest rates. Here is an example to consider, if you were to buy an investment property 10 years ago, the average sales price was approximately $143,000, ten years later the average sales price is $300,000, do you think you would have built wealth through that period?
Even stronger to note today, is that prices are expected to climb, interest rates are at an all time low, vacancy rates are at an all time low and students and the influx of immigrants are creating a really strong rental market.
With prices on the rise first time buyers are being priced out of the market and looking to rent which is pushing the vacancy rates down to less than 1%, which means finding a tenant for your rental units is extremely easy. Financing that investment property is cheaper than ever do to such low interest rates. The influx of immigrants to this country and the high sales price is forcing these people to start off in the rental market until they can build some credit and buy.
By Nathan Dean