Going to college is extremely expensive these days.
In general, having children is an expensive 18+ years. It is something my wife and I are about to face with complete joy and overwhelming anxiety. Once senior year rolls around, most parents have to figure out a way to pay a massive college tuition bill, not to mention many other expenses that come along with sending a young adult off into the real world. After all, your college student is going to want to have some spending money in their pocket.
Rather than telling them to find a part-time job, which will most likely hurt their extracurricular activities, study time, and social life, why not invest in their future early on? Help them be smart about money and give them a legacy of financial freedom and literacy.
Here is what you do: In the year that you have a baby, buy him or her a turnkey investment property with a 30-year loan. Have any cash flow go directly towards the principal. If you do this...
Last week I was travelling across Europe with my wife and kids flying first class from country to country. We went from Germany where we spent time getting served by folks in lederhosen and over to Scotland where I went to a few Scotch distilleries testing some various choice Highlands and Speysides… what an amazing trip! We passed through Paris and took a helicopter tour of the city and had an amazing view of the Eifel Tower. We went to Poland and visited Auschwitz (amazing!) where my 8-year-old son asked, “what happened here, daddy?” Right then I knew we needed to continue travelling the world and showing our kids what really matters in life: time with your family while learning and experiencing the world while sharing the blessings we have with as many people as we can.
Now, I have a confession, I didn't actually make that trip… last week I was stuck working a lot of hours on a TDY away from my family. I worked about 95 hours and I barely even talked to...
Today I would like to focus on the VA Home Loan and how you can maximize this benefit to make yourself a multi-millionaire! This is a process I have done and know from experience that it works! I have outlined the process in detail below so that you may also become rich!
It is good to read a book like Larry Loftis book here to establish an understanding in residential real estate investing. This book has helped me tremendously.
Every Combat Veteran has the benefit of $417,000 (there is a slight fluctuation based on the where you live) in home buying power backed by the Government. The VA Home Loan allows you to purchase Real Estate with $0 out of pocket and negates the expense of mortgage insurance.
Now, I like to make as much money as possible with as little time and effort as possible and one way to do that is with other people’s money. In this case the governments. Now your job is to MAX OUT YOUR BENEFIT so that the total value of the VA Home Loan is working FOR you.
If you want to be a military real estate investor, you need to protect yourself. Most people never think about investing within an Limited Liability Company (LLC). Years ago, I definitely thought it was not necessary. In my imagination, it was an incredibly difficult process that was something that only big companies had to do. This is simply not true.
LLCs are a fairly new legal business entity created in Wyoming in 1977. The unique aspect of an LLC is that it provides a combination of liability protection and also acts as a “pass through entity” for tax purposes. It is the perfect entity for real estate investing.
LLCs have exploded in popularity since their beginning and are the new standard for Real Estate investing.
The three big reasons for owning a rental property within an LLC are: Tax Benefits, Privacy, and Liability Protection.
This is one of the biggest reasons why Real Estate Investing is such an incredible wealth builder.
Real Estate Investing in the United States is magic. Investors from other countries often disregard any additional resulting taxes and invest in our real estate market. It boggles their mind that our system is so profitable. If you or your parents were caught up in the 2008 crash, you are probably on edge about real estate and that is completely understandable. However, all it takes is arming yourself with knowledge of the system to be ready to capitalize on the next market crash instead of simply surviving or even drowning amidst all the hysteria.
There are FIVE specific aspects of real estate that show why it is a fantastic way to build wealth. Each aspect is reason enough to take the plunge, but when properly combined, the results cannot be overlooked.