How To Get Started Fixing and Flipping Houses
about 19 days ago.
Updated 3 months ago.
On today's podcast episode I talk about buying rental properties.
I talk about cash flow, appreciation, and the tax benefits of buying rental properties - especially if you have a steady job and have a lot of taxes being withheld from your paycheck.
I also cover the "myth" of investing in rental properties where beginners think they are going to sit back and collect the cash flow. In reality, many times in the first few years of a rental property there isn't that much cash flow.
The trick is to buy the property below market and to capture equity. If you do that then you increase your net worth the day you buy the property. Even if your cash flow is only moderately positive when you buy, it will be much more positive when you refinance. This only makes sense if you gain equity when you buy. That means you should be buying wholesale deals at wholesale prices.
Over time you will be able to raise rents, and your equity will increase as well. If you are smart, you will put a 15 year mortgage on that property and own it free and clear in 15 years.
Remember that the goal is financial freedom. If you want to become wealthy, buying rental properties below market, repairing them, renting them out and then refinancing into a 15 year mortgage is a solid and easy way to build your wealth.
I show you a few examples with my current rental properties to show you the numbers, the equity and the cash flow and tax benefits and appreciation potential over just the past 4 to 5 years. Real estate can make you very wealthy - if you are patient and you buy right.
If you are brand new to real estate and want to learn more about how to wholesale real estate and flip houses then please register for the free wholesaling real estate training at this link below:
FREE WHOLESALING TRAINING
FIXING AND FLIPPING TRAINING
If you want to learn how to fix and flip houses I have a fix and flip training webinar at this link: https://www.lexlevinrad.com/fixandflipwebinar
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For more real estate tips about property investment, investing in real estate, and how to start wholesaling, download a FREE copy of my best-selling book "Wholesaling Bank Owned Properties" at https://www.lexlevinrad.com