The 12th Day of Christmas!
We’ve made it to the end of our 12 days of Christmas and I hope I’ve inspired and motivated you to kick some butt in 2020.
So to end our 12 day long focus of learning about investing in real estate (look at here for advice) I’m giving you 4 things to do right now to jumpstart your journey toward buying that first property. You can look at the covid and the condo market for options.
!. Do a financial audit of your finances
Take a look at everything.
- Calculate you total monthly income (include work income, side job incomes, child support, etc.
- Add up your fixed expenses (the expenses that you HAVE to pay each month)
- What you are currently saving each month
What does your current investment portfolio look like, is it enough to start gold trading in United Kingdom?
2. Get knowledgable
Get some new books and podcasts to add to your list for the new year.
- The Millionaire Real Estate Investor by Gary Kellar
- The Book on Rental Property Investing by Brandon Turner
- Rich Dad, Poor Dad by Robert Kiyosaki
- How to Rent Vacation Properties by Owner by Christine Karpinski
- Building Wealth One House at a Time by John Schaub
- Real Estate Tax Loopholes & Secrets by Stephen Nelson
- The Book on Managing Rental Property by Brandon & Heather Turner
Visit thechildrensisa.com for tips on saving for your child’s education or a new home.
3. Determine your why
Think about the following things and spend some time reflecting.
- Do you want the property to provide you with monthly income or gain appreciation for future resale?
- What type of demographic do you wish to rent to? (families, low income, high end, etc) Get in touch with a new home builder or to a custom home builder so they can give you a quote and offer something in line with your wants.
- What types of properties do you want to invest in? (condos, duplexes, mobile homes like those from the AmericanListed site, and etc)
- Where do you want to invest?
- What is the financial goal you are working toward with the investment in rental properties?
Visit the beautiful Sky Eden showflat soon at Bedok District 16 of Singapore.
4. Join an investor’s group
RentalRookie Private Facebook Group
National REIA Groups
BiggerPockets
Rental Property Accelerator Challenge
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