What does a young (or new) investor need to know about getting started in real estate investing? What are the best resources to build your financial intelligence? That’s the first question I’m answering on today’s show!
On this Q&A episode of Investing in Real Estate, I’m answering three of your questions. We’ll cover topics like getting started investing with no money, how to invest with your life insurance policy, and how to invest in the US from Canada. Click play to hear my answers to your real estate questions!
On this episode you’ll learn:
- My advice for young investors.
- How much cash you need from your insurance policy to buy real estate.
- What Canadian investors need to know about buying properties in the US.
My Advice for Young Investors
If you want to get started in real estate, you’re going to have to be proactive and diligent. No one can do this for you. It’s going to take time and hard work to build your financial intelligence and ultimately begin buying performing assets.
I would recommend a couple of resources for you. The first is the book, Rich Dad Poor Dad by Robert Kiyosaki. It’s the #1 personal finance book of all time; it will teach you how to think differently about finances, and how to make your money work for you.
Another resource that I think would be helpful on your journey is my free 90-Day Financial Empowerment Bootcamp. It contains exercises and action steps that you can utilize to build your own path toward financial freedom.
How Much Cash You Need From Your Insurance Policy to Buy Real Estate
Much like using a retirement account to invest, you can borrow funds from your IUL to put a down payment on a rental property. You can expect to pay 25-30% of the total value for a down payment. From there, you can use financing to fund the rest. Even though interest rates are higher these days, I still recommend using other people’s money to build your wealth.
What Canadian Investors Need to Know About Buying Properties in the US
International investors, including Canadian investors, can use our program at Morris Invest. The biggest difference is that there are a few extra hoops and hurdles to jump through. You can expect to go through the process of setting up business entities and bank accounts in the US, which can be a bit of a headache! However, we’d be happy to walk you through the process to see if it’s a fit for you. You can schedule a free call at morrisinvest.com.
Ask Me a Question at morrisinvest.com/clayton
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Rich Dad Poor Dad by Robert Kiyosaki
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DISCLAIMER: I am not a financial adviser. I only express my opinion based on my experience. Your experience may be different. These videos are for educational and inspirational purposes only. Investing of any kind involves risk. While it is possible to minimize risk, your investments are solely your responsibility. It is imperative that you conduct your own research. There is no guarantee of gains or losses on investments.
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