Real Estate WEALTH Magazine Real Estate WEALTH Magazine - DOWNLOAD IT HERE! - Page 32

The Truth About Income & Real Estate Investing T BY SENSEI GILLILAND he art of transacting real estate investments for generating income, and why investing in rental property may not be the move for you, yet… Real estate is absolutely the corner- stone of wealth. It is highly reliable, and an essential element for building and preserving finances. However, some find getting started, and getting the results they hoped for, is a challenge. Over the last 22 years of coaching and training investors, I’ve found that comes down to three main things. 1. Getting lost in the different invest- ment options 2. Making it more complicated than it needs to be 3. Failing to have a solid action plan MYTHS & MISCONCEPTIONS ABOUT REAL ESTATE INVESTING * MYTH 1: There is One Superior Way to Invest One of the biggest hurdles today is not only the increasing number of real estate websites and gu- rus out there, but that so many are more focused on sales, rather than true education. Too many try to promise that their strategy is ‘the superior’ solution. The truth is that wholesaling, fixing and flipping houses, private lending, and investing in rental properties can all work. I’ve personal- ly done all of these. I still do today. The best strategy really comes down to your personal preferences, your time- line, capacity to invest, and goals. Some people love rehabbing houses and would do it regardless of the money. Others just want a completely hands-free way to invest and would never dream of taking on a DIY project for any amount of money. For many it is a matter of the right strategy at the right moment, and diversifying and moving up over time. * MYTH 2: You’ve Got to Do a Lot of Deals How many houses does someone need to own or flip per month to live a comfort- able life? See most people I encounter think they must do five to 10 houses per month. Then they just get daunted by the size of that, or they set unrealistic goals, which diffuses their motivation, and they never get started. It’s true that there are investors and business owners out there hustling, doing 10, 20 or more deals a month. Big goals > Realty411Guide.com PAGE 32 • 2017 reWEALTHmag.com