REALTY411 Magazine - A FREE Real Estate Magazine for Investors! REALTY411 - A COMPLIMENTARY MAGAZINE FOR INVESTORS - Page 33

are great. Yet, most don’t need to do anywhere near that. Every deal is different. But if you could make $5,000 wholesaling a property, or $50,000 flipping a house, or $500 a month on a rental, how many would you really need to live well? Two wholesale deals a month would make you over $100,000 per year. Rehabbing and flipping a house every 2 months could pocket you $300,000 per year. Ten modest rentals could give you $50,000 in passive income per year. Or you could loan your capital to some good house flippers as a private lender and make 10% returns, and beat the pants off the performance most are getting in the stock market. * MYTH 3: You Should Focus on Building the Biggest Stash of Cash Having big figures on your bank statements, a six-figure 401(k) balance, and a home safe stuffed with cash might make you feel great. There are definitely benefits of having liquidity and some serious reserves. Yet, no matter how much you’ve got, you can burn through it fast. Check out the stats and you’ll find the average retirement account balances dives around 50% within the first five years of retirement. Today we’ve got to be prepared to live 30 plus years after retirement age. We also need to be pre- pared to survive and provide, even if we can’t get up and go to work tomorrow. Ongoing passive income streams are far more valuable than cash in the bank. I’d rather have just $100,000 in the bank and $100,000 in perpetual annual income from rentals, than having $1M in the bank, and no passive income sources. * CREATING A BATTLE PLAN * Whether you need $70,000 or $700,000 a year to life comfortably and afford the lifestyle you want and to sustain it, you need a plan. If you are starting out with nothing, then you may need to start with wholesaling, and then move up to fixing and flipping, and then invest that capital through private lending and acquiring in- come producing rentals. Or maybe if you already have some capital or properties, you just need to restructure your portfolio to optimize your cash flow and wealth- building potential. It doesn’t have to be that complicated or confus- ing. It can take work and hustle, but if you are pas- sionate about your goals, you can achieve them through real estate. It’s all about having a plan that’s right and that works for you. )QӊéݡЁ$$̴ٕ)ѽ̰ɽɅ܁)Ѽѡ͔ݥѠх͡љ)̰ѼɕєɅљ݅ɐ)ѕѕѱѼ)ݡɔѡɕ݅ЁѼ)݅ѡ䁍ѥѼ)%ԁɔЁɔᅍѱ)ݡЁѡɥЁ݅ѼхЁ̰)ԁɔѥѡЁ)ȁٕѵ̰ѡ٥ͥ)ܹ %ٕѽ̹)͕ɕɅѕ͕ͥݥѠ)'eѼ͡܁ԁ܁'eٔѡԴ)́ͅѡ́ЁѡѠѡ)݅́ɕ)Ã$($($($)ɕ]1Q!