| Photo from Steve Derodar via Solar-Capetown
It surely did cross our minds to wake up every morning without having to work but still making money effortlessly! Well, not really without effort because what you could be doing requires much understanding of how things work. Given the example of making an income consistently, what a beautiful life it could be.
The truth is, there is a beautiful life with properties, and if you aren’t convinced, look at your surroundings and how properties, when properly managed, offer so many benefits. In fact, as was surveyed, One out of eight, or 28.1 million Americans, consider themselves residential real estate investors or own residential investment properties today.
The beauty of rental properties is that demand will never end. People always need a place to live, and our culture increasingly values mobility; the demand for rental properties will only grow over time. There is ample rental property opportunity in many countries or emerging markets. As noted, since the dawn of human civilization, landlords have built wealth by owning and leasing residential property. Today is no different.
A beautiful life with rental properties is one where real estate investments contribute significantly to financial stability, personal freedom, and pursuing your dreams. Here’s how a life enriched by rental properties can be beautiful:
Financial Freedom: Rental properties can provide a steady stream of passive income. Owning multiple properties can mean a substantial monthly income, helping you achieve financial freedom, pay off debts, and secure your future.
Diverse Investment Portfolio: Real estate diversifies your investment portfolio, reducing risk. It’s an asset that tends to appreciate over time, offering potential for long-term wealth growth.
Income Stability: Rental income is relatively stable, making it a dependable source of cash flow even during economic downturns. This stability can provide peace of mind and financial security.
Flexibility and Independence: As a property owner, you can make your own decisions. You can choose when to buy, sell, or upgrade properties, giving you independence in managing your investments.
Wealth Building: Real estate properties can appreciate over time, building equity that can be used for future investments or as a safety net. Homeownership is often considered a path to wealth creation.
Tax Benefits: Rental property owners can benefit from tax deductions, including mortgage interest, property taxes, maintenance expenses, and depreciation. These deductions can reduce your overall tax liability.
Retirement Planning: Rental properties can be a source of income during retirement. They can fund your lifestyle or supplement other retirement savings, ensuring a comfortable retirement.
Personal Development: Managing rental properties can be a fulfilling learning experience. You’ll gain skills in property management, negotiation, financial planning, and even interpersonal communication.
Impact on Communities: As a landlord, you provide housing and contribute to your community. You play a role in ensuring people have safe and comfortable places to live.
Generational Wealth: Rental properties can be passed down to future generations, creating a legacy of financial stability and wealth for your family.
Travel and Leisure: Rental income can enable you to travel, pursue hobbies, or take time for leisure activities. It provides the freedom to enjoy life without the constraints of a traditional 9-to-5 job.
Dream Fulfillment: Whether starting a business, pursuing further education, or investing in other passions, rental income can provide the financial means to achieve your dreams.
However, it’s important to note that successful property management requires dedication, time, and expertise. Being a landlord involves property maintenance, tenant interactions, and financial management responsibilities. It’s essential to research, plan, and seek professional advice when necessary to ensure a beautiful life with rental properties.
If you think that renting properties is impossible, think again. There are asset classes that need not be uber expensive. There are tons of opportunities, from renovated houses or condo units foreclosures to apartment rentals for students. Offshore properties can also be a significant consideration, but note ownership restrictions for these.
It may not be for everyone, but there’s a beautiful life waiting for those willing. This is just one aspect of enriching life.
ABOUT THE AUTHOR: Stevenson’s experience in Philippine Real Estate spans over 15 years. He has been involved in horizontal, vertical, vacation, and commercial properties. He has worked as an International Property Specialist for markets in Asia, Europe, and North America with Ayala Land, Federal Land, and Century Properties. Through PhilHouseHunters, he offers real estate investment opportunities, marketing, and consultancy with a critical focus on Metro Manila and Mega Cebu areas. Visit www.philhousehunters.com. Email at derodarsales@gmail.com.
In New York City, Stevenson is affiliated with Elegran Forbes Global Properties as a Real Estate Advisor and licensed Real Estate Salesperson. Forbes Global Properties is a global network of elite real estate professionals, including brokers, developers, and agents, who specialize in luxury properties. Through Forbes Global Properties, members can connect with affluent buyers and sellers across the globe and showcase their high-end properties on a global stage. Email him at svderodar@elegran.com.)
