I am working so hard.
I am wise in my purchases.
I save every time my paycheck arrives.
But, why am I still not rich?
Is there something I am doing wrong?
Is there something I am missing out?
If this is your scenario, yes, you are missing out on something. The rich do not become rich merely because they save and they control their spending. The rich became rich because they are smart in determining which places they will put their money in.
While ordinary people focus on working hard to get their paycheck so that they can save money, the rich focus on investing in assets that will make money work for them, instead of them working for money.
The rich create money. Ordinary people wait for the money.
This is PART 3 of our 4-part series on “10 PLACES WHERE THE RICH PLACE THEIR MONEY.”
Now, we will learn that one essential investment of the rich that generates hefty money that requires minimum to no hard labor at all.
8. Real Estate
This investment entails buying and selling or leasing housing or office properties. This is a good source of passive income. You can just wait for the payment of your tenant or you can earn from acquiring cheap properties and selling them with a good profit margin.
Real estate, for real?
What if I do not have the capital?
Truly, real estate requires medium to high capital. However, if you will compute the return of your investment, you will no longer look at that seed money. You will immediately look for ways to obtain that capital needed to acquire a real estate property.
The real estate market in our country is currently thriving. Have you noticed that the construction of condominiums and apartments is left and right? There are also increasing the number of properties considered to be cheap housing. Entrepreneurship in the country is also thriving, thus the increasing need for office spaces. Many are also taking advantage of Airbnb and similar apps to cater to the needs of tourists. Now, are you still looking at that seemingly unattainable capital? So, how to build your real estate empire?
Plant your seed.
Do not rush into purchasing a property. If you just have a small amount of capital, do not buy the property YET. Instead, invest it in a business that requires minimal capital. You can start with an online selling or food cart or any business that you know you can grow. Let that business be your cash cow.
Let your seed produce more seeds.
The rich consider their money as seeds to grow more seeds, meaning more money. Let’s say that you have now a thriving business that came from that small capital you had. As that business is running, you are also saving some of its profits for your real estate fund. When you have obtained enough money for the property you are eyeing for a long time, that’s the time to acquire that asset.
Remember that when buying a real estate property, location is very important. You can start by purchasing raw and undeveloped land because it is a lot cheaper. It does not matter if it is just raw land, but if it is situated in key locations such as beside the highway, near a village or a community, near a tourist spot, near a mall, or within a place where there is heavy foot traffic, the value of your land will eventually appreciate.
Nurture and harvest.
You can take advantage of your property’s good location by building an establishment that answers the needs of the community. You can lease that establishment to tenants that can give you monthly passive income.
Since you had bought that real estate property at a low price, you can sell it to land developers for a very good price and let them build on it. Without the effort and the capital for construction, you can already reap the fruits of your investment just because of having a property on a key location.
Do you want to have a passive income through real estate?
Do you also want to build your real estate empire?
Do you want to learn the basics of real estate?
If yes is your answer to all of these questions, then I have good news for you. I have an exclusive FB Livestream entitled “Real Estate 101” on November 9, 2019, from 9 PM-12MN. For just the affordable investment of Php 799, I will guide you on building your real estate empire. I will teach you the basics of this investment that can give you high passive income. If you want money to work for you, then now is the time to learn the business of real estate. Go to chinkeetan.com/realestate
To be part of this on Join now and know the secrets of the rich so you, too, can be rich!
Think. Reflect. Apply.
Have you ever considered buying a real estate property?
What do you think will keep you from investing in real estate?
What will you do to have a real estate asset?
CHECK OUT the Chinkee Tan series on 10 Places Where The Rich Place Their Money Part 1 and Part 2.
SHARE your ideas about investments in real property in the comments section below!
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