Building Wealth Through Real Estate
Updated: May 26, 2019
Time and time again I come back to this stable datum: real estate is a great (if not the best) vehicle for building wealth.
"Learn to Earn", "Pay Yourself First" and "Make Your Money Work For You", these comments are synonymous with growing wealth.
So what does wealth look like to you?
I have seen clients buy into real estate and turn net gains of 60%, 100% and so on in very short order indeed. As the population on this planet increases (from 3 billion total inhabitants four decades ago to 7.5 billion inhabitants today) we can see land becoming scarcer and more in demand with each year. More people will need housing in the future than at any time in the past, and the amount of land on the planet remains constant. This makes it a really sound investment to get into the market today while it is still relatively affordable.
With ownership comes the stability of not being subject to rent increases. This gives you the security of having a permanent home for you and your family.
Where do we start?
It's really easy to have your real estate investment dreams crushed when you look at detached residential homes in say Kitsilano, or West Vancouver. But there happens to be a real estate ladder. You can get into the market at one rung of the ladder and by careful observation of the market you can sell up, and climb to a higher rung on the ladder. Eventually, you might look back and find you have earned a big financial asset which outperforms even the best mutual funds or blue chip stocks.
Experience tells me that the best time to get into the market is the present time. Past performance has shown that one will always earn money on land in the long term, regardless of momentary dips and halts in the market. We happen to be in a buyer's market era, and the value of homes in the lower mainland has dipped allowing many the chance to get into the market for the first time (or invest in a second condo which can be used to generate an additional revenue stream).
My husband Rob has for some time authored a popular financial planning tool, The More Money Program. There are also a handful of genuinely effective financial advices which I will take the time to list a few of such titles for you below.
Money Talks by Michael Campbell
The Millionaire Booklet by Grant Cardone
Think and Grow Rich by Napoleon Hill
The Richest Man in Babylon by George S. Classons
The Millionaire Next Door by Thomas J. Stanley and William D. Danko
The Wealthy Barber by David Chilton
Figuring out where to get your down payment from has been one of the main barriers to getting into the real estate market. These titles above should help you save that initial down payment. There are other options such as the Rent to Own program, bridge financing and so on. I'm always free to chat about the number of options now available to assist new home owners to get into the market.
But here is the thing... THE BEST TIME TO GET INTO THE REAL ESTATE MARKET IS NOW!
Gale Spick firstname.lastname@example.org (604) 785-3404