𝐇𝐞𝐫𝐞 𝐢𝐬 𝐰𝐡𝐚𝐭’𝐬 𝐠𝐨𝐢𝐧𝐠 𝐨𝐧….
I remember back when I couldn’t wait till the 1st of each month to deposit my rent cheques. I was super happy to pull out those cheques and accept those email transfers.
Felt like I was set for life and 𝐭𝐡𝐚𝐭 𝐈 𝐦𝐚𝐝𝐞 𝐚 𝐠𝐫𝐞𝐚𝐭 𝐝𝐞𝐜𝐢𝐬𝐢𝐨𝐧 𝐭𝐨 𝐛𝐮𝐲 𝐭𝐡𝐨𝐬𝐞 𝐫𝐞𝐧𝐭𝐚𝐥𝐬
So, each month I would look at my bank account and see the rental income come in… woohoo!! This will be my 𝐩𝐚𝐬𝐬𝐢𝐯𝐞 𝐢𝐧𝐜𝐨𝐦𝐞 𝐟𝐨𝐫 𝐫𝐞𝐭𝐢𝐫𝐞𝐦𝐞𝐧𝐭
The longer I keep holding onto this property, the more I will make. This is a long game. This is how the wealthy stay wealthy. They buy real estate and hold it for long periods of time.
𝐀 𝐟𝐞𝐰 𝐲𝐞𝐚𝐫𝐬 𝐡𝐚𝐯𝐞 𝐠𝐨𝐧𝐞 𝐛y, rates have gone up and now I make a little less each month. But I know that the decision to buy was still good. I can handle this rate increase. It’s not affecting my lifestyle.
𝐑𝐚𝐭𝐞𝐬 𝐠𝐨 𝐮𝐩 𝐚𝐠𝐚𝐢𝐧 that’s ok! It’s just temporary…It’s going to be ok. The government can’t keep increasing those rates but I don’t have control over the government. So, I am more worried now.
𝐑𝐚𝐭𝐞𝐬 𝐠𝐨 𝐮𝐩 𝐚𝐠𝐚𝐢𝐧 𝐚𝐧𝐝 𝐭𝐡𝐢𝐬 𝐭𝐢𝐦𝐞 𝐦𝐨𝐫𝐞 𝐭𝐡𝐚𝐧 𝐩𝐫𝐞𝐝𝐢𝐜𝐭𝐞𝐝. Now I am getting stressed It’s starting to affect my lifestyle.
What should I do? I thought buying this investment property would set me up for life.
𝐚𝐧𝐝 𝐭𝐡𝐞𝐧 𝐈 𝐦𝐚𝐤𝐞 𝐭𝐡𝐞 𝐦𝐨𝐬𝐭 𝐜𝐨𝐦𝐦𝐨𝐧 𝐦𝐢𝐬𝐭𝐚𝐤𝐞 𝐩𝐨𝐬𝐬𝐢𝐛𝐥𝐞 𝐚𝐦𝐨𝐧𝐠 𝐥𝐚𝐧𝐝𝐥𝐨𝐫𝐝𝐬
I dip into my savings fund! My real estate investment has gone from an asset to a liability now. Bye bye money
Did I really make a good decision to buy that rental investment property???
𝐈 𝐚𝐦 𝐧𝐨𝐰 𝐢𝐧 𝐬𝐮𝐫𝐯𝐢𝐯𝐚𝐥 𝐦𝐨𝐝𝐞. I am now watching every penny I spend. This can’t be happening…
If any of this resonates, here’s what’s going on:
𝐋𝐚𝐧𝐝𝐥𝐨𝐫𝐝𝐬 𝐰𝐡𝐨 𝐠𝐫𝐞𝐰 𝐮𝐩 𝐢𝐧 𝐭𝐡𝐞 “𝐎𝐥𝐝 𝐒𝐜𝐡𝐨𝐨𝐥” 𝐰𝐚𝐲 𝐨𝐟 𝐭𝐡𝐢𝐧𝐤𝐢𝐧𝐠 - “Old School” thinking is work hard, save, save, save work with a financial planner, pay off your mortgage asap and retire with a house that is free and clear.
𝐁𝐔𝐓 𝐭𝐡𝐢𝐬 𝐢𝐬 𝐧𝐨𝐭 𝐠𝐨𝐢𝐧𝐠 𝐭𝐨 𝐰𝐨𝐫𝐤 𝐚𝐧𝐲𝐦𝐨𝐫𝐞 It may have worked with our parents’ day and age but not today.
Today is different. 𝐂𝐨𝐬𝐭 𝐨𝐟 𝐥𝐢𝐯𝐢𝐧𝐠 𝐢𝐬 𝐡𝐢𝐠𝐡𝐞𝐫 and our incomes have NOT caught up with our expenses.
Landlords need to change their approach to “𝐍𝐞𝐰 𝐒𝐜𝐡𝐨𝐨𝐥” thinking, which is a 𝐬𝐭𝐫𝐚𝐭𝐞𝐠𝐲 𝐞𝐦𝐩𝐥𝐨𝐲𝐞𝐝 𝐛𝐲 𝐭𝐡𝐞 𝐰𝐞𝐚𝐥𝐭𝐡𝐲.
𝐓𝐡𝐞 𝐰𝐞𝐚𝐥𝐭𝐡𝐲 𝐮𝐬𝐞 𝐭𝐡𝐞 𝐏𝐎𝐖𝐄𝐑 𝐎𝐅 𝑻𝑯𝑬𝑰𝑹 𝐌𝐎𝐑𝐓𝐆𝐀𝐆𝐄 𝐚𝐧𝐝 𝐋𝐄𝐕𝐄𝐑𝐀𝐆𝐄!
The wealthy know how to 𝐭𝐮𝐫𝐧 𝐁𝐀𝐃 𝐃𝐄𝐁𝐓 𝐢𝐧𝐭𝐨 𝐆𝐎𝐎𝐃 𝐃𝐄𝐁𝐓!
Those who implement this plan are able to 𝐜𝐨𝐧𝐯𝐞𝐫𝐭 𝐭𝐡𝐞𝐢𝐫 𝐧𝐨𝐧 𝐭𝐚𝐱 𝐝𝐞𝐝𝐮𝐜𝐭𝐢𝐛𝐥𝐞 𝐝𝐞𝐛𝐭 𝐢𝐧𝐭𝐨 𝐚 𝐭𝐚𝐱 𝐝𝐞𝐝𝐮𝐜𝐭𝐢𝐛𝐥𝐞 𝐦𝐨𝐧𝐞𝐲𝐦𝐚𝐤𝐢𝐧𝐠 𝐦𝐚𝐜𝐡𝐢𝐧𝐞 𝐰𝐢𝐭𝐡𝐢𝐧 𝟔-𝟏𝟎 𝐲𝐫𝐬.
Those who adopt this strategy correctly will 𝐫𝐞𝐜𝐞𝐢𝐯𝐞 𝐢𝐧𝐜𝐨𝐦𝐞 𝐭𝐚𝐱 𝐫𝐞𝐟𝐮𝐧𝐝𝐬 𝐟𝐫𝐨𝐦 𝐭𝐡𝐞 𝐠𝐨𝐯𝐞𝐫𝐧𝐦𝐞𝐧𝐭 𝐰𝐢𝐭𝐡𝐨𝐮𝐭𝐜𝐨𝐧𝐭𝐫𝐢𝐛𝐮𝐭𝐢𝐧𝐠 𝐚 𝐩𝐞𝐧𝐧𝐲 𝐭𝐨 𝐭𝐡𝐞𝐢𝐫 𝐑𝐑𝐒𝐏 and then these refunds go to pay off your mortgage EACH year.
Essentially, 𝐭𝐡𝐞 𝐠𝐨𝐯𝐞𝐫𝐧𝐦𝐞𝐧𝐭 𝐰𝐢𝐥𝐥 𝐏𝐀𝐘 𝐲𝐨𝐮 𝐭𝐨 𝐨𝐰𝐧 𝐚 𝐫𝐞𝐧𝐭𝐚𝐥 𝐩𝐫𝐨𝐩𝐞𝐫𝐭𝐲!
Those who implement this strategy will pay off their owner-occupied mortgage 5-6 years earlier on average! And bonus - those who implement this strategy will also 𝐚𝐜𝐜𝐮𝐦𝐮𝐥𝐚𝐭𝐞 𝐚𝐝𝐝𝐢𝐭𝐢𝐨𝐧𝐚𝐥 𝐰𝐞𝐚𝐥𝐭𝐡 𝐟𝐨𝐫 𝐫𝐞𝐭𝐢𝐫𝐞𝐦𝐞𝐧𝐭
Most investment strategies involve more cash out of your pocket BUT the best part is this strategy 𝗱𝗼𝗲𝘀 𝗡𝗢𝗧 𝗶𝗻𝘃𝗼𝗹𝘃𝗲 𝗮𝗻 𝗶𝗻𝗰𝗿𝗲𝗮𝘀𝗲𝗱 𝗰𝗮𝘀𝗵 𝗳𝗹𝗼𝘄. You maintain the 𝗘𝗫𝗔𝗖𝗧 𝘀𝗮𝗺𝗲 𝗰𝗮𝘀𝗵 𝗳𝗹𝗼𝘄 𝗮𝘀 𝘁𝗼𝗱𝗮𝘆!