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Investing In Real Estate Podcast

There’s a whole wide world of financial advice out there – some good and some bad. Depending on your financial goals, certain advice could steer you in the wrong direction.

On this show, my goal is to give you a financial education that’s based on the principles of building a high net worth through performing assets. So with those goals in mind, today we’re going to cover 5 common financial myths you need to unlearn. Click play to learn more!

More About This Show

  1. The first myth is that you should buy everything with cash. I’m not saying you should go out and buy cars and TVs you can’t afford, but in order to build a sizable real estate portfolio, you’ll probably need to use financing. The key here is to understand the important distinction between good debt and bad debt. Good debt is when you use a loan to buy something that puts money in your pocket every month, like a rental property. Bad debt is when you use financing to buy liabilities like cars and boats. If you stop demonizing debt and see the value in utilizing it in a financially intelligent way, you’ll be better off.
  2. Here’s another financial myth you need to understand: a lot of people think you need thousands of dollars to invest. You actually don’t! Here’s an accessible way to get your foot in the door: investing in real estate notes. We’ve partnered up with a company called Connect Invest that allows you to start earning returns for as little as $500. Connect Invest offers real estate short notes that deliver a 7.5-9% return on investment. You can choose the note length of anywhere between 6-24 months. You can use my link to open a free account and when you invest $500 or more, you’ll receive $50 just for signing up! There’s no minimum credit score or any type of requirement. All you need is $500. See if it’s a fit for you at morrisinvest.com/connect.
  3. Relying on outdated retirement practices. We’re living in a different world than our parents and grandparents did. If you’re banking on a 401k or Social Security to fund your retirement, the outlook is pretty bleak. You’ll need to come up with a different plan if you want to build wealth and have a comfortable retirement that spans years, if not decades.
  4. Building a nest egg. Most people have been taught the importance of saving their pennies. But here’s the bad thing about a pile of cash: it eventually runs out. When you rely on saving money alone, your money is finite.  If you want to actually build wealth, you’ll need streams of cash from performing assets.
  5. Living on one earned income. Most people have one source of income: earned income from their 9-5 job. The average millionaire has seven streams of income! Even if you have no intention of becoming a millionaire, it’s a great idea to build out multiple streams of passive income in order to live a comfortable life.

Episode Resources

Book a Call with Our Team
morrisinvest.com/bootcamp ← Download your FREE 90-Day Bootcamp!
Subscribe to Investing in Real Estate on Apple Podcasts
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Subscribe to the Morris Invest YouTube channel
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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.

AFFILIATE DISCLOSURE: Some of the links on this channel are affiliate links, meaning, at NO additional cost to you, I may earn a commission if you click through and make a purchase and/or subscribe. However, this does not impact my opinion. We recommend them because they are helpful and useful, not because of the small commissions we make if you decide to​ use their services. Please do not spend any money on these products unless you feel you need them or that they will help you achieve your goals.

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Posted on

August 22, 2024

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