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Should You Still Be Investing in Real Estate? They Don’t Want You to Know THIS About Buying a House
The School of Greatness
Real Estate Investment Advice for Young Professionals Making $70-$120k
Young professionals earning between $70,000 and $120,000 should focus on strategic real estate investments to build long-term wealth. Starting with purchasing a modest two-bedroom home with a roommate can significantly reduce monthly mortgage payments. After living there for two years, they can potentially take advantage of a $250,000 tax exemption when selling the property. This profit should be reinvested into buying additional rental properties, ideally acquiring two properties with each sale. Keeping the down payment low (around 3-10%) allows for larger investments. Over a ten-year period, this method could lead to owning multiple rental properties, providing financial independence by the age of 32. It's crucial to avoid high-cost lifestyles and be mindful of the true cost of ownership, including utilities and maintenance, to prevent stretching finances too thin. Choosing affordable properties and living modestly will enable continued investing without the fear of financial strain hampering future opportunities.
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