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— by david Schoenbrun

7 Tips For Building Wealth With Rentals

Real Estate Investing, even on a very small scale, remains a tried and true means of building an individual’s cash flow and wealth. – Robert Kiyosaki

If you ask the most wealthy people in the world how they created and sustained their wealth, they would say with Real Estate. Real Estate is still to this day one of the best investment vehicles to put your money into. Rental properties are amazing because you get to purchase property with other people’s money, build equity while someone else (the tenant) pays off your mortgage and enjoy some great tax benefits that your tax advisor will tell you all about.

Here are seven tips on how to build long-term wealth with rental properties. Rental properties can be extremely profitable when the right buying opportunities occur.

1. Properties that are expensive don’t always pay you back

Expensive properties may look like the best investment at first, thinking you will get a bigger return on rent. In actuality, an average property will cash flow more than an expensive home.

2. Building wealth with rentals doesn’t happen overnight

Start with one property at a time. Learn from your mistakes and do not over-build your portfolio too fast. A few months of vacancies with more than one property can clear your residual bank accounts quickly. Play it just like you would monopoly.

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