IMHO real estate investing is the best investment. It's better than the stock market and it's WAY better than just putting money in the bank. Here's why:
1. Passive Cash Flow: when you put your money into real estate, you have tenants pay your mortgage. So you receive passive income every month. When you have enough passive income streams that it equals or exceeds your expenses, that is financial freedom!
2. Federal Tax Benefits: because of the way the tax code is structured, you can be making money on real estate, but for tax purposes, it looks like you've lost money. That means you're paying less in taxes. When you're building wealth it's important to remember it's not just what you make, it's what you get to keep that matters! Real estate helps you keep more of your money.
3. Leverage: if you want to buy $100,000 worth of stocks you'll have to put $100,000 in a brokerage account. However, if you want $100,000 worth of real estate you can put 20% down, 10% down, or sometimes 0% down...
Shirley Chisholm was the first black woman elected to Congress, representing New York’s 12th District. She served for seven terms!! Chisholm was also the first African American to make a bid to become President of the United States in 1972, as a Democratic representative.
She was an advocate for women and minorities, and she, and her all-female staff, made incredible improvements to the lives of many inner-city residents.
Shirley was a trailblazer. She made her own opportunities and didn't let anything stand in her way. Today we celebrate her.
Do you know your net worth? It's not that hard to calculate.
One of our Goddesses asked if she can include her Cryptocurrency in her net worth. Another asked if her car can be included.
The answer is Yes! You can include those things in your net worth calculation, along with a lot of things you probably hadn't thought about.
Your net worth is the value of your assets (what you own) minus your liabilities (what you owe).
An asset is anything you have that has significant value. Here are the assets you can include in your net worth calculation:
Ready to be inspired? It's time for the Goddess Spotlight!
Each month I spotlight members of our community who are successfully building their real estate portfolios and are on their way to financial freedom. Some are relatively new, while others have been at it for a while.
These goddesses invest in almost every niche imaginable, and they ALL have a lot of insight to share!
Today, I'm sharing my interview with Cheryl Fung - our Wealthy Goddess of the Month!
CLICK HERE TO VIEW HER INTERVIEW
Here’s a recap of what we talked about:
They say the top three rules of real estate investing are:
Where you buy is more important than what you buy! A mediocre property in a strong market is going to do well. A beautiful property in a bad market is likely to lose money.
Remember those bold or italicized blurbs in the margins of our school textbooks? The most important words and phrases grabbed our attention and let us know where to focus. We’re taking a moment today to do the same with a technical term you’ll find around here:
Early in my real estate investment career, I realized that many deals were first (and often only) offered to men who were part of an established network. The reality is that many investments require there to be a “pre-existing relationship” between the sponsor (the person bringing the deal) and the passive investors. I created the REIG Investor Club to provide opportunities to women that they might not otherwise have the time for or access to.
So, are you an ...
As you probably know, my mission is to help 1 million women create financial freedom through real estate investing. For women that are in committed partnerships where their money is tied together with their significant other's, this means that they need to make decisions about how to invest successfully as a couple.
Unfortunately, many couples try but fail because they make some serious mistakes. These mistakes mean that not only are these couples unsuccessful with their investing (either having lackluster results or even losing money), but these mistakes put a serious, and sometimes fatal, strain on their relationship.
I made a quick video with my hubby Peter (< 2 min.) sharing the 5 biggest mistakes that couples make when trying to invest together. Click here to check it out.
5 Biggest Mistakes:
To be honest, it's a lot easier to attract people to you, than going after people to join your team or business. When you create a platform and put yourself out there it's kinda like you are the honey and the bees come to you. It's a lot easier to do it that way! Instead of chasing people down, I like to put out as much value as I can and attract people to me! (This is also how I've created my list of investors...)
What if you’re really excited about investing in real estate, and your partner’s not on board yet? How do you entice them to collaborate with you? If you're in a long-term relationship, it can be critical for you to have their significant other's support in order to achieve maximum success.
My husband Peter and I help couples increase their income and their intimacy through real estate investing.
Here are three tips to help you get your partner as excited as you are to move forward:
First, spend some time together dreaming about what a future in a 10+ life might look like. What would it be like to be financially free if you had enough passive income streams from real estate investing? What would you do with your time? What would you do as a couple? As a family, what are your plans? What would you do if you could give back to the world in some way? The more exciting your vision is, the more eager your partner will be to join you on your journey.
Second, inquire about your...
Real talk: not all advice is good advice. Often people are giving you advice based on their own experience (or lack thereof) and/or opinions. Often they’ve never even had experience in the area they’re trying to give you advice about. Or sometimes people are coming from a place of fear, so their advice might not be that applicable or helpful to you. So we encourage you to be selective about the people you take advice from. We recommend taking advice from people who are already succeeding in the field that you hope to be succeeding in. They are already in the arena, they are doing the work and they can speak honestly to their experience and how it can help you. Anyone else has the potential to negatively impact your journey before you even begin, or give you advice that doesn’t apply to you or will hold you back.
Be selective about the people you let into your space, goddesses, and don’t let anyone scare you out of going for your dreams!