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Real Estate Investment Business (Talents & Skills needed. (Business…
Real Estate Investment Business
This fits my Personal Vision.
This business will allow me to live financially free.
This business will allow me to increase my business knowledge and leadership ability.
This business will allow me to phase out of it after a certain amount of time, allowing me to focus on other things.
Talents & Skills needed.
Leadership skills
I do not have these yet.
I am learning these now and will continue to
learn them for the rest of my life.
Determination
I do have this.
I am determined to make this business work and to pursue my vision.
Work Ethic
I do have a strong work ethic.
However as with everything, this is something
that can always be improved.
Business knowledge and experience
I have already started my study on the real estate market.
I have much more to learn though.
I have no experience yet, I will have to
work hard to get my first deal done.
Rewards vs. Risk.
Risk
I do risk whatever capital I invest in this business to get it started.
I risk not having a steady paycheck
while I focus on starting this business.
Risk will be limited to what I invest in the business since I will use and LLC.
Rewards
Potentially I will be rewarded with a successful business.
I will gain skills and knowledge associated with opening a business.
Fulfilling my vision.
Is it worth it?
Yes, for a fairly small amount of risk I could potentially start my business that would fulfill my vision statement.
Yes, rewards outweigh the risks.
Is this business the best available option.
Yes
Tax Options
Real estate has some of the best tax break
laws in all of business and investing.
You can write off depreciation each year.
You have more flexibility and control on how
your (real estate) assets are taxed.
Passivity
Rental real estate once you have property managers in
place is almost completely passive income.
I can hire people to acquire more properties and I
will have a minimum amount of work each week.
Once you make a single purchase, you can collect income from that property for as long as you live.
Stability
Real Estate is much less volatile than stocks.
If you purchase high quality properties with an appropriate amount of cash as a down payment, your investments will be secure even during an economic downturn.
Quality housing is always in demand.