A Wealthy Lifestyle
What would you do if you didn’t have to work your 9-5 job? If you had money or investments, enough to cover your expenses without having to worry about affording your bills? About buying groceries, a mortgage, or a car payment? For us, the answer is simple. We would like to spend more time with our family. We would like to do all the things that inspire us and make us happy. Being able to live a healthy lifestyle is also being able to live a wealthy lifestyle. Trefore, one key aspect of our journey is to build wealth. The mobile we have chosen is Real Estate.
Don’t get me wrong, we know there are no magic beans that will take you to a castle in the clouds full of treasures. We also know that money is no guarantee of wealth. Like many others before us, after reading Robert Kiyosaki’s book “Rich Dad, Poor Dad”, our mentality switched. It make us realize that wealth is the amount of time you can live the lifestyle of your choice. Either by using your savings, your retirement account, and/or your passive income. Is important to note that rich and wealthy are not the same. “The rich have lots of money, but the wealthy doesn’t worry about money.”
Why did we choose Real Estate for a wealthy lifestyle?
Real Estate, while it may be for some people, is not usually a way to get rich quickly. We definitely did not choose it for this reason. Real Estate offers several other advantages such as cash flow, tax deductions, appreciation, inflation hedge, the possibility to build equity, portfolio diversification, and leverage of different financing options, among others.
Our main reason for choosing it is the possibility of building passive (or not completely passive) income. This is the way to achieve our goal of a wealthy lifestyle. We also love the possibility of making a positive impact on other people’s lives by providing fair and comfortable rental properties.Helping them in their home ownership, while improving neighborhoods and, why not, towns and cities.
If you are thinking about jumping into the Real Estate world, please remember, that even though it may be simple for one to build wealth through it, it has some disadvantages. Like the lack of liquidity, which simply means that converting assets into cash takes longer compared with others; like for example stocks. The same way around, converting cash into assets by buying a property can take months, between the offer and the closing signature. Like with every other investment, always learn and study which one fits you and your goals the best before jumping in. And remember, whatever you choose, you need to be able to do what it takes. Deal with ups and downs, learn from your mistakes, and most important, you need to take action.
Real Estate, for some reason, feels right to us. Learning, reading, and listening to Real Estate podcasts always teach us new things and are enjoyable moments in our day.
At least for one of us, the love for Real Estate is on the blood. Arian owes this to his grandfather. By the age of 10, he had already lived in more than seven houses. His grandpa was a house flipper in Cuba, buying, fixing, and selling even though he was in his 70s. Real Estate laws and conditions in Cuba, like almost everything else, are completely different from the USA. Therefore we are eagerly learning everything we can to,soon, be experts in the field.
As of now
We bought our first house more than 6 years ago. And proudly noticed how we made a great team during the whole process. Now, we want to continue investing in Real Estate focusing on rental properties.
By the time I wrote this article, we had recently closed on a duplex. It gave us two doors in one transaction. Our Current Real Estate Goal is to have at least 1 more rental property (doors) in our portfolio per year.
