I Want To Keep My Job, But I Still Want To Invest.
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Read Transcript for “I Want To Keep My Job, But I Still Want To Invest.”
“I love my job and make a good income. It’s not in real estate, by the way. I want to invest in real estate because the stock market returns stink. Can you help me?”
Joe: First of all, I agree with you. The stock market does stink. You don’t have to put your money into mutual funds and the stock market for your retirement. Get a self-directed IRA and put it into real estate. Real estate has a much higher return on your money.
Joe: Let’s take a basic scenario here. If you want a passive income – we’re not talking about building a business which is what the Mentor Program is about, by the way. You don’t need the Mentor Program if you’re not trying to build a business. If you just want to buy real estate, I can show you how to do that too, but you don’t need to go through the Mentor Program to make that happen. Theoretically you could take 10% down, go buy a property, let’s say buy a $150,000 single family home, brand new construction, in a decent area that you know you can get a good tenant in there.
Joe: You put a good tenant in there and you have very little negative cash flow that is probably going to be made up by the depreciation on your taxes. You’re probably going to get your money back there. You’re also going to get money that’s going to be paid down on the loan and the values are going to go up and the rent’s going to go up, so your negative cash flow is going to go away in a very short period of time.
Joe: So, even if you just bought one property a year, over the next five to ten years, you’re going to be doing very well at the end of that 10 years. I can tell you it’s going to be very, very attractive, both to your taxes and to your long term wealth, and you’re going to have millions of dollars’ worth of property without doing any work at all. You don’t have to manage those properties. You get professional management companies to handle that for you.
Joe: That’s a whole different course, and I can teach you how to do that. That’s not what you need this Mentor Program for. If this is your situation, don’t get involved in the Mentor Program (unless you want to learn the business aspects of this business). If you want just passive income, then invest in real estate and I’ll give you some good tips on how to do that in the next video series that I do that’s coming up in about a month. I hope that helps.