Are you like me and absolutely hate being an employee and making someone else richer? Well I have a solution, but I have to warn you that this is not an overnight solution...it will take some time.
It seems like these days you already have to be rich to buy anything that will make you rich...in other words, you have to have a lot of money to make any money.
Or do you feel like if you start your own business that you would be better off just working for someone else because you can work less and make more money with way less overhead?
I know the feeling...
The first thing you have to do is a financial checkup! What's this...take a look at your expenses, your bills, everything that you spend your money on. Most of us are spending way too much and not saving anything at all...this is your first problem...no matter how much money you make save as much as you can! I know I know you need that money to make it thru the day with food, bills, gas, etc,....This is where the financial checkup comes in...you have to find a way to lower your bills to save that money. If you are never able to save any money then you will never build up enough money to set yourself free. No matter how long it takes. It could be weeks, months, even years, but start doing it today!
Ok...now you have some money saved up, right? Here's my solution: Invest in rental properties!!! From my experience it is the best way to build wealth!
For a whole bunch of reasons:
1. You get paid every single month your property is being rented!
2. Someone else is paying the property (loan) off for you!
3. Real Estate tends to appreciate in value!
4. You're the boss!
5. You can take a loan out and get cash out of your rental property...now you have more money to make more money! Buy more rental properties with that money!
6. You can have rental properties and keep your day job until the rental properties can pay for your current lifestyle!
7. You can hire a property manager to handle all the b.s. that goes with having a rental property for a small fee, and still make money! Don't do it all yourself!
8. Our population is not declining so people will always need a house to live in!
9. Best of all it's passive income (which means you still get paid, and you don't have to do any work!)
10. Tax benefits...
11. You can hand down your rental properties to your kids, and then they won't have to work either!
Those are just a few of the reasons that I can think of off the top of my head, but there are many more...
I haven't reached financial freedom just yet, but I can see the light at the end of the tunnel. I will keep blogging about building wealth and hopefully I will be able to help others in my experiences!