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How it Began
When I was 22, I purchased a condo with a 30-year mortgage. On top of the regular mortgage payments, I also commit to paying an extra $200/mo towards the principal. At 24 years old, my fiancé and I purchased a second property. Today, both of these properties have been converted into rentals. What makes these early investment decisions especially advantageous is that we are projected to have these properties paid off in about 20 years, right around the time our future kids might be going off to college.
Peace of Mind
Not only does this provide financial security for my family today but it also provides financial security for our future. If my kids decide to go to college, then we can be confident that we already have a designated pot of money—the rental income from these properties—to put towards paying for their education. And as long as I continue investing in real estate responsibly and using aggressive debt repayment strategies, the more properties I acquire over time, the more pots of money I will have to pull from in the future.
Cash is Cash is Cash
Now while we currently have that pot of money designated for education, we might change our minds later on. The good news is that cash is cash, there’s no “right” way to spend it. Maybe in 20 years, we’ll decide to spend this money on travel, a new car, or as a contribution to our retirement fund. We can spend this money however we want! But the important thing to remember is that we gain financial security for our future through the investment decisions we make when we are young.
So What?
My experience shows just how important it is for us all to make smart financial decisions today so that we can reap the rewards later on down the line. The power of responsible real estate investments has helped me start my path to securing a stable future for myself and my family—and it could do wonders for you too! So don’t wait another day; start making those smart decisions now so you can build your own financial security tomorrow.
If you’d like to learn how you can get started today, reach out to me so we can schedule a complimentary consultation!
