will help you become a savvier investor. Start investing and keep investing to garner the returns you’re looking for. Don’t lose sight of the fact that rental real estate income will compound over time. It is better than taking too long to find the perfect property.
Because I was always looking for the next best market to invest in, I never got complacent about investing in just one location. Even while I continued to scale in a location where I had developed an established team, I still moved to other markets for better portfolio diversification.
partnered with other individuals and borrowed money from colleagues and private investors who are also interested in real estate. Some of the other opportunities I’ve taken to gain capital include: Cashing in small portfolios of stock to use as down payments on more rental properties. C reating side hustles, only some of which focus on real estate. S aving income from my rental portfolio to reinvest. C reating an active business in REI, which resulted in Rent to Retirement. L everaging as much as possible—responsibly, of course. Scalability is the name of the game if you want to create substantial passive income and generational wealth with your real estate portfolio. When you gain more capital to reinvest, these funds will compound over time. Your main goal is to create more income in a manner that expedites your goals.
2. I WAS INTENTIONAL ABOUT WHERE I BOUGHT REAL ESTATE.
3. I USED ALL AVAILABLE RESOURCES TO ASSIST ME IN SCALING MY PORTFOLIO. Capital is the most limiting factor for anyone who wants to scale their portfolio. It’s essential to use all the resources available to you. Once you run out of down payment money, you need to save up for a down payment on your next property. However, you should focus on other avenues of gaining access to more capital. The most successful investors look at all available resources. It allows them to aggressively grow their portfolio— and that’s exactly what I did. Over the years, I’ve used numerous methods to acquire and own more real estate. For instance, I’ve accessed equity in my existing investment properties via home equity lines of credit (HELOCs). These funds are used for down payments and leverage. I’ve also converted my IRA into a self-directed IRA, which is a type of account that allows you to invest in real estate. Over time, I’ve
We always hear about location, location, location. But what does that mean? It means finding the right macro and micro markets that are congruent with your investing goals. Different locations are more appropriate for different people and investment strategies. The one thing that allowed me to take my portfolio to the next level and generate high amounts of passive income in a short period of time was to not limit myself to my local market. Instead, I determined specific investing criteria based on my goals. I then worked in markets that fit those goals and provided the best returns. Yes, that meant I needed to educate myself about other markets and build teams of professionals who worked in them. It’s a process that takes a great deal of time and work but is necessary to build the right teams.
4. I MAXIMIZED TAX BENEFITS. The tax benefits you have access to as a real estate investor are essential to your future success. This is the most powerful aspect of REI because it compounds over time. Most people don’t take full advantage of tax benefits because
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