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| One of the best books I've read! |
SO.....
How do you protect your money? The stock market has not been working in your favor lately. Why?
Because the "hot market" is not in the stock market. The hot market is in Real Estate! Prices in real property are still 40-50% off and rental rates are very high. Why put your money in the stock market when you can generate a relatively consistent income from rental properties?
You may say: "I'd love to get into real estate, but the banks aren't loaning any money!".
I say: "Go out and ask friends and family for money, the banks will accept 20% down if you have the cash."
You may say: "My friends and family do not have any money, or they're not willing to lend it to me."
I say: "Use money from your 401K for a down payment. Take a loan from your 401K with the intent to pay it back and go buy yourself a property. The rental income you will eventually receive within the next 2 years should generate enough to pay your 401K loan."
Due to our country's soon-to-be defaulted debt level and the consistent increase in the money supply at zero percent interest rates, an increase in taxes and reduction in entitlements is sure to come about. Therefore, I think the best resolve is (and always has been) to increase your passive income. Those who work the hardest will be taxed the most...those who have multiple and passive streams of income will actually have wealth to pass on to the next generation!
BE FREE
PS - I apologize for not posting my articles in a while - but I've enrolled in a commercial real estate program to study and learn about how to buy my first multi-family property. Some of you may remember that I was going to buy my first residential property - but this deal fell through at the very last minute. I'm looking to hopefully acquire a property by next month and possibly a second within a year or two.
