AI Revolution: Why Real Estate is Your Safest Bet
In a world where artificial intelligence (AI) is rapidly transforming the job market, it's crucial to have a solid financial foundation. Goldman Sachs predicts that AI could replace 300 million full-time jobs, automating over 25% of all work tasks in the US and Europe. Even white-collar jobs, like those in the medical profession, are not immune to this revolution.
The Power of AI: A Personal Story
My 15-year-old daughter, Aliza, recently won her high school science fair by developing a custom GPT model designed to create personalized breast cancer treatment plans. She programmed this AI in just one day and made it even more robust in less than a month by incorporating over 600 peer-reviewed breast cancer research papers into the model. An oncologist at a leading institute was blown away by its potential. This experience made me realize that an AI capable of integrating vast amounts of data to personalize treatment plans is far more powerful than any single human doctor's...
7 Reasons Why 90% of Millionaires in the US Invest in Real Estate
Yes you read that right- 90% of the world's millionaires became millionaires through real estate. Real estate investment is one of the fastest and safest ways to build wealth and grow your net worth in this country, and it's time for you to get in the game too!
Just to be clear, when I talk about real estate investing, I’m not talking about buying a home to live in. That sort of investment takes money out of your pocket every month. When I talk about real estate investing, I am talking about buying cash-flowing rental property that puts more money into your pocket every month.
There are 7 reasons why millionaires in the US invest in Real Estate.
Passive Cash Flow
Your tenants pay rent. After expenses what you have is monthly recurring, mostly passive, cash flow. This passive income that can supplement or replace your working income is what leads to financial freedom!
Appreciation
Over time, almost all real estate properties will rise and appreciate. If you buy a house for 100K, and...
How To Evaluate A Potential Investment Property.
There are 3 important aspects of a property you need to evaluate… these are the same for almost every investment property.
Physical Characteristics
The first aspect of a property is its physical characteristics. This includes things like:
• square footage,
• number of units/rooms/bathrooms/etc.
• amenities (stainless steel appliances, gym, pool, etc)
• architecture
• class of property
• property condition
• location, etc.
The size, characteristics, and location will determine who wants to be your tenant, how much they’re willing to pay, what kind of appreciation you’ll be able to get. When you’re assessing a property you want to consider all of these characteristics and what it means for your rental price.
You will also want to assess how you could improve the property to it’s highest and best use or to get the highest and best rents. Sometimes the best...
I'm a big believer in the power of mentors to help you collapse time frames, see opportunities you never realized existed, help you to think differently, and to become way more successful than you could have by yourself. For this reason, I've invested a lot of time and money to learn from my mentors. Those investments have definitely paid off!
In the spirit of paying it forward, I want to share the three most valuable lessons I've learned from my mentors:
1. Focus on Relationships for Life
For those of you who have heard my story, you know that one man was a very important catalyst to my growth and success in real estate - Robert Helms. He's the host of the Real Estate Guys Radio Show and he's an incredibly successful investor and developer who has done over $1 billion dollars in deals. He has taught me a lot in the 3 1/2 years I've known him. The number one lesson I learned from him was to "build relationships for life."
Most people are very transactional and short-term in...