Most people have heard of the book, “Rich Dad, Poor Dad.” It’s a great read and chocked with great principles. Buy real estate. Leverage. Let your tenants pay off the mortgage. Build equity. Appreciate!
Real Estate as an Investment
I’m no Robert Kiyosaki, but I believe in real estate as an investment. It just makes sense. Good sense.
I bought my first investment property in the ’80s. Hawaii was beyond my grasp, so I turned to the mainland. I bought homes that would pay for themselves with the rent they generated. Later, I exchanged those properties for Hawaii properties. I don’t own McMansions. I buy simple. Simple is my mantra. Studios work well. So do funky walk-ups apartments and high-rise condos. It’s all about the numbers. And time. Think long term. Real estate pays off over time and it pays off big. Especially in Hawaii. We have limited land, very few building starts, and very high demand. Property prices may fluctuate, but over time, they go up. And up!
Commit to the Process
Buying for investment is simple to understand. It’s smart. Yes, it takes commitment to the process. Sure, there are challenges. But, it’s doable. Very doable. Start small. Begin exploring options. Talk to a Realtor. Meet with a lender. Tuck some money aside. Just start! Before long, you’ll be buying your first investment property and wondering why you didn’t start sooner.
You may not aspire to be like, “Rich Dad.” Frankly, that has never been my goal. But, I did want to provide security for my family, an income stream for retirement, and enough financial freedom to enjoy the simple pleasures of life. Real estate has helped me do that and it will help you do it, too!