Residual Income Ideas
Financial Freedom and Real Estate
Income Property, when you think of retirement what does that picture look like? Did you make enough secure investments which pay enough dividends for you and your loved ones to have financial security? Do you think your social security payments (if there are any by the time you retire) will be sufficient enough to keep you feeling secure? For most individuals retirement is not something we often think about because we are so busy being busy!
Now pay attention because this is VERY Important! Nobody wants to worry about where their money will come from to pay their expenses as they near retirement age. Nor do they daydream of working past 65!
SO WHAT ARE YOU GOING TO DO ABOUT IT?
Rental Property Investment – Creates Passive Income
The key to achieving financial stability and securing a comfortable future is not that complicated if you do things right! Owning rental property requires little to no effort and generates a steady stream of monthly income.
Real Estate Investment Strategy How to Buy Rental Property & Pay for your Mortgage:
1) Think Creatively: about which areas bring tourists and re-occurring visitors (vacation rental income is big business)
- Big Bear (more attractions and events equates to more vacation rental income)
- Attracts snow boarders
- Mountain Bike Riders
- Families on vacation
- Individuals with boats
- Events throughout the year (bringing in more visitors)
2. Palm Springs (more events and fun in the sun equates to more vacation rental income)
- Attracts golfers
- Families on vacation
- Individuals that want to bask in the sun
2) Analyze: has the city had a face-lift, what has the city done to improve their look and become more attractive to potential businesses and home buyers? Property might be inexpensive now, but once these improvements about the city are known… the property prices will sky rocket (so keep a watchful eye)
Notes Palm Springs: in a recent article written about Palm Springs by Walsh, E. (2013) the city has reinvented itself! The City is booming and has added events that bring in the tourists.
Notes Big Bear: Not only is Big Bear a winter wonderland, which can bring in the big bucks during skiing season! This city is going through a major face-lift as well! The entire downtown area is being remodeled and if that’s not enough… They have added zip lines and mountain bike trails.
What this all means? Right now, properties in these locations are affordable. If you buy now, you can reap the benefits of earning vacation rental income and you can build your secure future by making the right investments.
Here is a visual analysis of what your future holds: Imagine paying your mortgage payment just by renting out your home for a 2-day weekend!
Buying a vacation rental home as an investment can help you build your financial security… It is time to stop worrying and start living…
Town Real Estate… This is living
Walsh, E (2013, June, 27). Palm Spring Rebounds after Recession. retrieved on August 09, 2013, from The Bay Area Reporter Web Site: http://bayareareporter.net/news/article.php?sec=news&article=68881