Growing Your Wealth by Investing in Utah Real Estate
Did you know some of the wealthiest people in the United States built their wealth through real estate investments? If you look at the Forbes’ list of the 400 richest people in this country, you’ll find real estate is an important source of their overall wealth, and owning retail or office buildings, land and rental units is just as significant to their plan as stocks, bonds and acquisitions.
Building wealth by Utah real estate investments is a simple 5-step plan:
1. Purchase income-producing real estate below market value
2. Buy (or leverage) and hold additional properties over years
3. Have these properties managed professionally
4. Direct this cash flow properly
5. Become financially secure and grow your wealth over time
Investing in real estate is unlike any other investment option, offering a predicable cash flow that begins right after you purchase the property. When done properly, it’s reliable and very lucrative, and good property management means your investment will basically operate on auto pilot, earning you money month after month, year after year.
With a bit of patience and the help of a great Utah realtor to help you find the best investment properties, you’ll enjoy built-in equity right away by purchasing below market value! You can also enjoy positive cash flow every month, and your mortgage principle will be paid down over years. The property will continue to appreciate in value over time and, once the mortgage is paid, you own it outright. Choosing 15-year mortgages and buying new properties every few years means you can enjoy your retirement with steady income and, if you wish, you may decide to sell the properties at their appreciated value.
Appreciation is one of the most exciting ways to build your wealth through Utah real estate, and it may occur naturally when the market increases or by your own actions, such as increasing rent to keep up with local trends, decreasing your costs or making improvements that demand higher rent. It’s through appreciation that millionaire investors are made!
It’s never too early or too late to add Utah real estate to your investment portfolio. Whether you’re planning for retirement, want to put your children through college or spend a few years traveling the world, investment properties can be your means to do this and more. Growing wealth through real estate doesn’t require a fortune, either; after all, Warren Buffet saved his money from a paper route beginning at the young age of 15 and spent his first $1,200 on land, which was just the first of many wise investments.
Whatever your goals, the Blake Frei Team is ready to help you choose great real estate in Utah to get started and help you build financial security through smart investments. Contact us today to learn more about the advantages of real estate investment and just how easy it is for you to achieve!