There are a couple of things you can do if you want to get rich.
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Invest in stocks.
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Invest in real estate.
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Start a business.
Not everybody can start a business. It takes time, effort, a lot of capital up front. Many businesses fail because of many factors that are not even under the business owner's control. Whether it is rising utility bills, gas prices, bad location, poor economy, your business has a lot of outside factors that you cannot control.
The stock market is a great way to earn some money. The stock market will on average increase by 12% a year. Of course you have to ride out waves where the stock market goes down. Fluctuations are expected. Downturns are expected. But the 12% yearly growth surely beats that 4% CD you got...
But the stock market has a draw back. It takes money to make money. If you don't have a million dollars, how do you expect to make $120,000 from stocks? You won't. You can't.
Now, we are left with only one viable solution. That is: invest in real estate. That's right. Your home will go up by 12% every year but you surely don't need a million dollars. On the contrary, you only need a viable source of income to your name.
Consider this: an average 3 bedroom 2 bath home in a very good Vegas community can cost you about $300,000. It will cost you about $2,000 a month in mortgage to afford the house. But you are going to get $1200 in rent for sure. Vegas is the perfect place because so many people go to Vegas for the short term and have no long term intentions to stay there. They are willing to rent!
Heck, to me, its not renting that they are doing. They are paying for your house! So after you pay the property tax and HOA dues, you are probably down about $1,000/month in cash flow. Can you manage that?
If so, you are talking about the potential to make a lot of dough. Because $1,000/month out of your pocket now will pay big dividends. Your $300,000 house will be worth $600,000 in 2016. If you sold it then, you would pocket roughly $250,000 from profit. You might wonder, well the $1,000/month for 10 years is $120,000. And you only really double your money. WRONG!
Rent prices go up. Your 30 year fixed mortgage payment does not. We calculated it and found that in about 7 years, your mortgage will be fully paid off by the renters. So you only really pay about $60,000 or so. Easy money folks. If you can do about 5 of these houses, you will be a millionaire in 10 years.
That is, you need $5,000 a month of cash flow. But whatever your budget is. Even if you can only really afford $300/month out of pocket, there is an investment in Vegas waiting for you. And you can make $$$$.
Looking to invest in real estate? Then you need to apply for personal
loans. There are huge investment opportunities in Las Vegas real
estate and mortgage
loans can help you invest your money. Make sure to read up on government
regulations on mortgage
loans to know what you are getting into. We also offer debt
consolidation for those who need it. Bankruptcy is not the only option
so look into debt
consolidation.
