There is nothing a Mompreneur can’t do and it’s been proven. If you have your sights set on conquering real estate investing world there are some things that you should know beforehand.
Why invest in real estate?
Investing in real estate is a good way to save up enough money so that you can retire whenever you want. It can also be said that in the sea of different investments, real estate is the most stable and sure choice – even in the bad economy – so why not invest in something like that?
Let’s see why Mompreneurs should venture into real estate waters and what’s there to now before ever deciding to invest.
1. Know your goals
The most important thing when considering investing in anything is to have one’s goal clear. Knowing our goals can serve to guide us in making the right financial decisions.
What do you expect to achieve from real estate investing?
Once you answer this question you will understand what your final financial goal is.
And as a Mompreneur, you’re most likely striving towards increasing your children’s college savings funds, or their inheritance.
Maybe you’re looking for financial freedom or retirement funding.
On the other hand, if you’re unsure about what your goal is or how to creat it, you can always meet up with financial advisors who are there to help you start.
2. More leverage
First, let’s get what leverage is out the way. As Mompreneur you may already know this – leveraging is using borrowed capital to increase the potential return of that same capital – overall a great investment strategy.
If you decide to dip your toes into real estate, you should know that leverage is one of several great strategies for investing in real estate.
Leveraging in real estate means using borrowed money to buy properties and then maximizing your returns by putting less cash into each property investment.
3. Tax-free cash flow
Yes, you read that right. You can have a tax-free cash flow if you decide to invest in real estate. This is due to a reduction in the value and if you leverage your real estate investment.
So, this means that you can have a passive cash flow each month from your tenants. This also implies you having an opportunity to do other jobs while earning money through real estate.
4. Lifestyle friendly business
Closely related to cash flow mentioned above, investing in real estate means having time for family and time for any lifestyle you want.
As already mentioned, you will be receiving money passively which will leave you time and space to dedicate yourself to other things – yourself, your family, and maybe other businesses.
As a Mom, you know how valuable free time can be especially if you’re trying to juggle both business and raising your children.
5. Investing in strata properties
If you decide to invest in real estate you should check out strata-titled properties as well.
There are many benefits to strata for you as a Mompreneur.
Some of the benefits that you can find appealing include
- lower cost of the property
- higher demand from buyers
- fewer maintenance costs, and
- you can have strata managers and mediators helping you out
That’s right, strata property management includes licensed professionals who deal with financial affairs, general meetings, and other stuff. Having professionals deal with all that stuff will leave you time to spend with your children.
6. Retirement plan and legacy
For all of you mompreneurs out there wondering if real estate is a good retirement investment, the answer is yes.
Real estate investment, if done right, can accumulate you a significant wealth by building up your portfolio of real estate investments. Don’t be afraid to boost up your real estate knowledge, it may only work in your favour.
Similarly, investing in real estate means leaving a legacy for your children. One day your kids can inherit all your properties and reap all the benefits.
You can go a step further and start teaching your kids about real estate investing early on. That way you will have them set for life.
Investing in real estate is a wonderful business opportunity if done in the right way. There are many tips and many benefits, but also many tricks as well. Before you ever decide to step into real estate investment waters be sure you do a lot of research and in that way boost your knowledge. Then set your goals and slowly move on from there.
Are you investing in real estate?
Such a timeous post, Helen. Thanks a mill. I’m doing Quynh Vo’s Money Mastery Formula at the moment, and we are a couple of weeks away from learning about real estate investing. Will let you know whether I jump into the property game. Watch this space.