RENTAL PROPERTY: THE ASSET THAT FUNDS YOUR LIFESTYLE
We live in an unpredictable world and nobody knows what tomorrow will bring. As the economy fluctuates, the cost of living increases each year, lifestyle trends change and even the bank notes can’t escape the inflationary war. For these reasons and many more, a lot of people (especially the Millennials) are doing their best to get some sort of financial security in life either by investing or earning a salary.
A high-paying job can offer the financial means to travel, but very few jobs allow for the time off that Millennials are seeking. Most traditional companies offer a vacation policy that averages two weeks at best, and even that might be tough to take at one time. While investment is a sure way to maintain one’s lifestyle, the second option isn’t reliable.
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Unfortunately, the salary earners constitute a larger percentage of society and a lot of them are retrenched annually due to economic uproar and instability. The visit of the unwelcomed workers’ lay-off has made the larger populace to become financially incapacitated. Hence, living the future in a state of uncertainty.
One of the easiest ways to fund your lifestyle can come through investing in assets that will generate passive income. People often forget that they have one of the greatest assets that most investors wish they had more of — time. Time is a key factor to the profitability of many assets and it is imperative that you invest in assets now that will grow to fund their retirements in the future
How do you find a way to fund your lifestyle and develop a plan for retirement and your future?
The solution to generating passive income today, and creating an asset that will grow in the future is found through real estate, multifamily rentals in particular. Multifamily rentals purchased in the right markets can generate monthly cash flow, via rent, which can be used to fund your future plans. As time goes on, these properties can continue to grow in value through appreciation and be a sizable asset by the time you are ready for retirement.
Rental income has the potential to provide you and your family with financial freedom. This means you have more passive income coming in each month than you have in expenses. You can live indefinitely without having to go into work again. When you invest in positive cash flow property, you can begin receiving money almost immediately. The funds from the rentals can be used to clear the house loan and other expenses.
READ: HOW RENTAL PROPERTY INVESTMENT SAVED MR MICHAEL’S FUTURE
The exciting fact about real estate is that where you start from is your platform. You don’t need to break the bank. However, before you can achieve the kind of lifestyle you wish for, you need to buy your first investment property. To buy your first investment property, you need to first save a deposit. The first deposit is always the hardest, then you can use cash flow and equity from your first investment property to help to purchase your remaining properties.
Having the means to create wealth for the future is fully possible through Middlechase Property Limited.
