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If you're in your 20s, and have a job, you can go to the bank, get a loan and buy real estate.
Every dollar you spend right now in your 20s is worth a $1,000 if you invest it right.
I had a mentor one time that bought shares of Citibank for $2-$3 a share. They went up to $500 a share and when the economy crashed it took the stock price down to $10 a share.
I said, you've taken a huge hit.
He told me something I'll never forget: "Time is undefeated. The money you invest now is unaffected over time."
In this day and age, you can buy a house for 3% down.
Buy a $150K-$250K house and rent them out.
If you're a W-2 employee in your 20s, you'll get a tax deduction for owning a home and this is where it really pays on the back end.
If you sell it in 2 years and 1 day, up to $750K, you can avoid paying capital gains tax.
Next, buy a bigger house and repeat the same process.
By the time you hit your 4th house you should be sitting with a million-dollar portfolio in real estate.
Rinse and repeat.
The process is simple.
Find a mortgage banker or broker and have them pull your credit and run your numbers to see how much home you qualify for.
You could be doing very well by the time you hit your 30s.
#RiseAbove
HOW TO GET INVOLVED:
This planet is based on an algorithm and with every positive action, there is an adverse reaction.
Ryan Stewman rose and overcame a life of addiction, imprisonment, divorce, and circumstances that would break the spirit of the average human being.
He went on to create a powerful network of winners and champions in life and business creating a movement quickly changing lives one day at a time.
Learn more at: www.JoinTheApex.com
Check out this show and previous killer episodes of the ReWire Podcast in Apple Podcasts.
If you're in your 20s, and have a job, you can go to the bank, get a loan and buy real estate.
Every dollar you spend right now in your 20s is worth a $1,000 if you invest it right.
I had a mentor one time that bought shares of Citibank for $2-$3 a share. They went up to $500 a share and when the economy crashed it took the stock price down to $10 a share.
I said, you've taken a huge hit.
He told me something I'll never forget: "Time is undefeated. The money you invest now is unaffected over time."
In this day and age, you can buy a house for 3% down.
Buy a $150K-$250K house and rent them out.
If you're a W-2 employee in your 20s, you'll get a tax deduction for owning a home and this is where it really pays on the back end.
If you sell it in 2 years and 1 day, up to $750K, you can avoid paying capital gains tax.
Next, buy a bigger house and repeat the same process.
By the time you hit your 4th house you should be sitting with a million-dollar portfolio in real estate.
Rinse and repeat.
The process is simple.
Find a mortgage banker or broker and have them pull your credit and run your numbers to see how much home you qualify for.
You could be doing very well by the time you hit your 30s.
#RiseAbove
HOW TO GET INVOLVED:
This planet is based on an algorithm and with every positive action, there is an adverse reaction.
Ryan Stewman rose and overcame a life of addiction, imprisonment, divorce, and circumstances that would break the spirit of the average human being.
He went on to create a powerful network of winners and champions in life and business creating a movement quickly changing lives one day at a time.
Learn more at: www.JoinTheApex.com
Check out this show and previous killer episodes of the ReWire Podcast in Apple Podcasts.