Welcome back! Today, we are exploring how real estate might be the missing piece in your portfolio. This is especially true if you are looking to fast-track your way to wealth.
In a previous episode, we focused on thinking beyond your clinical income. As you look to uplevel your money and your life, focus on that metaphor of wealth as a dining room table. The more table legs you can create, the more solid your financial situation will be. We have already explored how side hustles and investing can grow your wealth. Real estate can also add additional table legs with the added benefit of speed.
Unlike investing in the stock market which may take decades to build real wealth, real estate actually has a much shorter timeline. That’s why in this episode, we are going to explore why you should consider investing in real estate and the many benefits it can provide.
Many people don’t even consider real estate when it comes to growing wealth. It seems off-putting or overwhelming. Perhaps we’ve all heard one too many stories about terrible tenants. But actually understanding the different types of real estate investing and the benefits of it might help you see just how powerful adding real estate to your portfolio could be.
As a real estate investor, you could absolutely invest in a rental home. That single-family home that gets rented out each month is probably what most people think about when they think about real estate investing. In addition to single-family homes, you can also get involved in duplexes, triplexes, apartment buildings, raw land, senior living centers, and so much more.
Now that you have a better sense of what real estate investing might look like for you, it is time to explore the why behind real estate investing. What makes real estate so powerful and beneficial?
The most important benefits of real estate include:
- Speed of growth, which occurs much faster than stock market investing;
- Control, which allows you to be actively or passively involved;
- Taxes, which provide unique benefits to investors;
- Familiarity, which reveals that you are already more well-versed in real estate than you imagine; and
- Tangible assets, which means you actually have something to show for your money.
In this episode, we also explore:
- A case study of how real estate allowed my fiance to use leverage to sell his Brooklyn home for 400% more than he paid for it
- A deep dive into the exclusive tax benefits of real estate investing
- A preview of what a real estate professional status is and how to make it work for you
Plus, I also share how I am getting started with active real estate investing
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Featured on the episode:
- Learn more about Semi Retired MD and enroll in their free video mini-course here.
- Check out this guide to understand how women can use real estate to achieve financial independence.
- Understand how much money you need to start investing in active real estate with the breakdown in this post.
Learn more about how to manage your mindset with Wealthy Mom MD.