The age-old question is, "Should I start saving to buy real estate if I want enough money to retire?" Our answer is maybe.
It might not be what you expected, but let us explain…
For some, and by some, we mean a tiny percentage of the population; the answer might be yes, and if you have the extra capital lying around, then by all means, dive into the real estate market.
But for others, like ourselves, it's a bit trickier of a question to answer. If you find yourself struggling to make ends meet with the building pile of bills, worrying about finances and future planning, or looking for a new income stream, then real estate might not be the right choice in the beginning.
However, there is most definitely money to be made in real estate. It is high-cost and potentially high-risk, and if you're on shaky financial ground, it could add more stress than security.
"What are some common routes people take to make money in real estate?"
Let's look at some of the classical ways people get involved with real estate to make money.
Property Flipping
Flipping houses can be lucrative, but the catch is the huge amount of upfront capital needed to get into the market. Additionally, you will need to cover the renovation expenses and carry the risk that the flip doesn't make the amount you were hoping for.
Rentals
Rental income, or owning houses to rent, can be a great way to collect income, but many people need to realize that it is more active than it sounds. Not everyone is meant to be a landlord. You need to be prepared to manage your properties, cover fixes and unexpected repairs, and ensure that the property remains rented and in good overall shape.
Home Equity
Building equity in a home takes time, and while it can be a great asset, it's not as liquid as it seems. You can't easily access that money if needed, making it difficult if you need fast capital.
Despite some of the negatives, these real estate options can be appealing!! But they all circle back to one crucial question: Do you have the financial stability, cash and above all, PATIENCE, to handle this kind of investment? Real estate is high-risk and high-reward, but not everyone can handle the risk and how slow it can be, especially if things don't go as planned.
Ok...I'm still deciding whether to invest in real estate. What could I do instead?
We have a solution that might be right for you: Amazon Business.
Amazon businesses require significantly less capital to get started, are scalable, and offer semi-automation. They have the potential for a much higher return on investment (ROI) than an investment property that comes with much financial strain.
Starting an Amazon business allows you to enter the market with lower risk while offering the chance to achieve a new passive income stream and build wealth over time, which could lead to that first rental property.
Real estate can be a great long-term option if you've got the financial flexibility to invest comfortably and are open to waiting decades. But starting an Amazon business could be a smarter path to financial freedom if you're after something with lower risk and a high potential return that doesn't need a significant upfront investment, and that can help create wealth faster.
Neil’s Guest Appearances: No Excuses Scale Your eCommerce Business Fast | Neil Twa
Topics Covered in This Episode:
🚀 How to scale eCommerce brands
🛒 Tips for succeeding with Amazon FBA
💼 The importance of building sustainable DTC brands
📈 Strategies for business acceleration and growth
🔑 Neil’s journey and key lessons for entrepreneurs
Whether you're new to the world of eCommerce or looking for advanced strategies, Neil’s mentorship in this episode is packed with actionable advice to help entrepreneurs at every level!
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