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« Unexpected turn of events… | Main | CLP … broaden your experience »
Sunday
Apr132014

Make the decision to retire a millionaire today

*Disclaimer:  I am simply sharing the actions I have taken in my own life, and how an outstanding GE career accompanied by some investment real estate can transform your life!

Ask 10 people on the street what “Cash Flow” is and it is likely 10 people won’t have a clue. That’s why none of them are millionaires.

Cash Flow, of course, is the tide of money that flows in and out of your financial life. When you have more money going out the door than coming in, you have the average debt-burdened American.

To be rich you need POSITIVE CASH FLOW, the 3 most powerful words in the English language (or any other language you translate it into.)

“Positive” cash flow means you are just the opposite of the average American: you have more money coming in than going out. Reaching this point was the definitive game changer in my life. You ought to write “Positive Cash Flow” on your bathroom mirror because this is the ultimate prize. It sets you free.

Now if you’re job brings in more money than you need, that’s great. However you are still trading dollars for YOUR hours. With real estate, the cash comes in whether you work or not.

Here’s how positive cash flow creates effortless wealth with real estate…

Say a tenant pays $1,100 a month in rent for Unit 101. And this unit’s share of the mortgage and other building expenses is $600 a month. That’s gives you $500 a month in positive cash flow. You’re making $500 while the tenant pays off every penny of your investment.

Multiply $500 by every unit you own… a 3-unit building gives you $1,500 a month is extra cash… a 6-unit gives you $3,000. Life is good.

The money doesn’t end here. Your building is increasing in value. And there are big tax benefits. I hope you’re starting to see why owning an apartment building is better than a goldmine. During the Gold Rush days more than 99.99% of the prospectors went bust. But the entrepreneurs who sold them picks and shovels made millions. They had tapped into the real Mother Load: cash flow.

I want you to be the rich young professional offering a basic service everyone needs: a roof over their heads. It’s a great trade off… you provide people with a place to live… and they provide you with Total Financial Security.

I am happy to answer questions you may have regarding real estate; at a minimum, it’s a terrific way to beef up your retirement, while excelling your career at GE.

Written by: Corey Kendig (Transportation / Erie, PA, USA)

corey.kendig@gmail.com

Reader Comments (1)

Hi Corey,

Great blog, very inspiring! Hopefully people do take property investment into account if they have not already done so :)

I completely am a believer in property investment. There is something about it that makes me feel comfortable, such as the fact that a house can't just 'vanish' even if it does depreciate in value, unlike shares, where stocks can plummet and so much research is required in active trading. (houses can vanish in the sense of natural disasters, but with the right insurance and location selection maybe that risk can be mitigated).

I do feel that the odd level of risk can arise, a simple example is Detroit, however these cases are rare and hopefully can be mitigated if some research is taken to make sure that the right place is selected. Places with increasing demand in tenancy should provide substantial security, where the source of wealth of the city can be determined as long term.. it's all about location location location.. and a small amount of the right property (you wouldn't want to invest in apartments in suburban living where families require lots of space for their 5 children and 3 pets).

As a house owner myself, I highly recommend that people look at property as a long term investments rather than just the short term rental investment for income.

Any thoughts, send them my way, I am always open to information when it comes to property!

Meili

April 22, 2014 | Unregistered CommenterMeili Castaldi

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