Today’s Guest post is from Dean Graziosi and he’s sharing his real estate knowledge with us!
Hi, my name is Dean Graziosi and Real Estate is my life. I have a passion for teaching people about the process and possibilities of successful Real Estate investment. With over 20 years of non-stop investing I’ve personally experienced that there is always a profitable strategy that fits the current market cycle.
In the last 20 years most people I’ve met investing in Real Estate are investing for their retirement. Unfortunately most of those people really didn’t know where to begin the process. In my opinion it starts with visualizing your retirement, this is the first step toward achieving your dreams. The second step is accepting it will not just happen on its own. So ask yourself some questions.
Who are you with?
What kinds of things are you doing?
Where are you living?
How old are you?
Start by knowing your retirement income needs. Most experts agree that retirees will need about 80 percent of their pre-retirement income to live comfortably during retirement. If your annual salary before retirement is $80,000, your retirement income to continue the same standard of living would be $64,000. Whatever that number is for you, you have to ask yourself if you could live comfortably on that and how close will other factors bring you to that (such as a pension and/or Social Security).
If you’re seriously behind on building your nest egg or if you don’t foresee a time in the future where you will be able to stop working, then it might be time to get excited about real estate. Why do I say this? Well, real estate is an area where people can turn a little effort into a lot of profit. Whether it be from flipping houses, buying and creating cash flow from rental income, purchasing tax liens for high rates of return or wholesaling deals and making money in the middle, (a great technique for anyone who has little to no money to start with). Right now the real estate market nationwide is shifting and it is prime time for the everyday person to get their piece of it.
The massive spike in real estate, followed by the inevitable and dramatic crash, is setting up a solid rebound. I truly believe this is the greatest time for everyone who would like to secure a better future to get educated, learn from those who are doing it, and jump into real estate investing. With the right knowledge and proper action, you can accumulate the money you will need and create an ongoing income — but the time to start is now. As we start to slide past 50, the cost of waiting to can be much too high. So, while time continues to pass, you can still take action and take control of your financial future.
– Dean Graziosi