So you want to invest in 2024? You’re probably wondering the best route to take. There are a multitude of strategies and investment types out there – and if you’re just searching on Google or YouTube, you’re going to find a lot of conflicting advice.
On today’s show, I’m sharing four smart investments you can make to start building your net worth. I believe there’s a strategy in this list that can work for everyone. Click play to learn more on this episode of Investing in Real Estate!
More About This Show
- Real estate notes. Investing in notes is a real estate strategy that’s great for beginners, or anyone who wants to start earning quick returns. What is a real estate note? You might have also heard the term mortgage note or promissory note. Let’s not get bogged down by the jargon though, it’s really not that complicated. Think of a note as an IOU – when you invest in notes, you’re basically acting as the lender on a real estate deal. You can DIY notes, or you can invest in notes through a company like Connect Invest. Check out my link, morrisinvest.com/connect, if you’re interested in using this strategy. The barrier to entry is low, typically you can start with as little as $500 and the returns are in the 7.5-9% range – this is more than double what you would get by throwing your money into a CD.
- House hacking has always been a financially intelligent strategy for veterans or active-duty members who have access to a VA Loan. It’s also great for first time buyers who can take advantage of an FHA mortgage. And Fannie Mae’s new policy allows all borrowers to take a multifamily home loan for just 5% down in owner-occupied units. There are so many different ways you could make this work, and there’s no better way to get your foot in the door with real estate investing. I mean, think of how this strategy could explode… your tenant is building your equity every month. Eventually you could use that equity to build out your portfolio further. If this sounds like it’s something that could work for you, check out my full video on house hacking here.
- Buying a rental property in a proven market. There’s no better investment than a piece of real estate. Buying rental properties in a proven market is going to give you a recession resistant asset, a hedge against inflation, tax benefits, and so much more. However, making a smart investment is easier said than done. You’ll have to conduct market research, run the numbers, and do a lot of due diligence to make sure you’re making a profitable and sustainable investment.
- Precious metals. In my opinion, there’s never been a better time to ensure your wealth is protected. Incorporating precious metals like gold and silver into your portfolio is a great way to diversify. It’s worth noting that while buying precious metals like gold do not create cash flow, they are a hedge against inflation and the swings of the market.
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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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