Sun, Nov 22, 2009
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All Roads Lead to Buy and Hold
| | Wednesday, December 10, 2008 @ 08:35 AM EST
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Contributed by: Jason Hanson
Jason Hanson Properties
Read more archived articles about Buying
One of the main reasons we become real estate investors is for the passive income, so that we don't have to work "in" a business and trade hours for dollars. It doesn't matter if you’re wholesaling, doing lease options or doing subject-to's as long as you remember to buy and hold some properties for the long term.
Right now is a golden opportunity to put properties in your buy and hold portfolio that you NEVER sell. You can purchase properties at such huge discounts and we probably won't see a market like this for another 20 years. You can't flip these properties and you don't want to, because you're holding onto them for the long term.
Take a minute and visualize your future. Imagine that you own 10 rental properties free and clear. Imagine that on the first of the month you stroll out to your mailbox, open it up and there are 10 envelopes for you. They contain your rent checks and net you over $10,000 a month. Plus, your net worth is several million dollars because you own these properties outright.
Obviously this takes time; however you can never forget the end game. You need to always keep your eye on the prize. Too many people simply flip houses their whole career and have nothing to show for it…..don't be this investor. During this winter time is when you should be picking up properties. If you do nothing else, at least pick up one property before the New Year. Also, write out your plan to own 10 properties for the long term (must be WRITTEN down). If you simply purchase 10 properties and eventually own them free and clear, you’ll easily be a multi-millionaire.
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