How To Generate Passive Income With Real Estate
Have you ever thought about investing in real estate? Did you know that real estate can provide a long term stable cash flow plus potentially raise in value? There’s many ways to make money in real estate and it’s hard to know which is the best way to really go however we’ve consulted a few experts and found out what they think.
Multi-Family Is The Future…
One of the real estate gurus we came across was Grant Cardone. Grant has been featured in a number of publications including Forbes and Entrepeneur. He’s the man who has nearly 500 million worth of multi-family real estate. Grant Cardone was not born with a silver spoon in his mouth. He’s a self made man. Born into a middle-class family Grant’s father died when he was 10 years old, and then his older brother when he was 20.
Grant stumbled through his 20’s and even got involved in with drugs and alcohol. By his late 30’s Grant turned his life around, crushed sales in the automotive industry and then started out on a speaking career. Over the next couple of decades Grant built a very successful speaking career and then moved into real estate.
Now Grant’s known all over the world, he’s a sought after speaker and has approximately 500 million dollars of real estate. He’s a serious boss and someone we can all learn a lot from.
How To Earn With Real Estate
So how do you earn with real estate and how can you actually get involved? Grant Cardone the man himself recommends that you only go with multi-family real estate. Grant got burned early on when he bought a single property. Grant says that single properties are a bad investment because let’s face it, if you have a tenant and they move out you are left with an empty property. If you have a block of apartments then it doesn’t matter if a few of them are empty, the ones that are occupied will cover the cost of the others.
Obviously there are many other benefits too, but this is what Grant recommends and what he has $500 million of his own money in. Pretty impressive to say the least, and clearly when someone has amassed this much wealth you should pay attention because clearly he knows what he is doing.
The great thing about real estate is that you can basically buy a property for 25% of the value. Think about it for a minute. You want to buy a property for $100,000 and you need a 25% deposit to get the bank loan. So you save $25,000 and then they loan you $75,000 so you can buy the property. You then go and rent it out, and a tenant is basically paying the cost of your mortgage. So how much did you buy the property for, was it $100,000? No, you got it for $25,000. That’s the amount of money you needed and now someone else is paying down your debt. This is what real estate is great. Plus you’ll get monthly cash flow on that $25,000 investment you made.
If you want to learn more about Grant then go ahead and check out his Facebook.