5 Ways To Build Wealth Through Real Estate
5 Ways To Build Wealth Through Real Estate – From HGTV to LinkedIn, it seems like everyone has a real estate mini-empire except for you. Empires are hard to come by, but investments in land and properties don’t have to be. House flipping isn’t for everybody and neither is being a landlord, but rehabs and rentals are hardly the only paths to wealth through real estate.
You might have the means and desire to buy, flip, manage or rent out a physical property, or you might be pursuing a real estate portfolio that exists on paper only. Either way, you’ve got options.
GOBankingRates asked the experts to outline paths to real estate wealth that are attainable for real people from a spectrum of budgets and life situations. Some are designed for passive income, others for long-term growth or a hedge against inflation.
All of the following paths, however, can lead to financial freedom and a secure future through real estate investing.
Live In — and Rent Out — a Multifamily Home
If you’re looking to buy a home of your own, but you also aspire to invest in an income property, kill both birds with one stone with a multifamily home. You’ll live in one of the housing units and rent the other or others — and the monthly payments from your tenants will cover some or all of your mortgage.
“If you have not yet purchased a primary residence, I highly recommend purchasing a two-to-four-family property as your first home,” said TJ Adams, owner of Adams Home Solutions. “This can be done with 20% down on a conventional mortgage or with as little as 3.5% with an FHA loan,” Adams said.
Can’t Afford To Buy? Join the Crowd
You can start your real estate investing career without ever buying a property by pooling your resources with other investors through a crowdfunding platform.
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