Real estate has unique benefits thanks to its ability to use leverage and the opportunity for passive income to grow over time. While you certainly need some capital upfront to get to the $50,000 mark, here are three simple ways you can do it.
A luxury real estate agent with RETSY can dive into tips like:
· Buy a long-term rental property: You can raise rents to match market demand or adjust for inflation to boost your income, but many rental investors choose to use the extra cash flow to pay down the mortgage faster. By doing this you can compound the passive income you earn by eliminating the debt and turn what may have been $200 of cash flow into $1,000 or more without any additional cost.
· Own a vacation rental: if you buy in a hot vacation market and have competitive amenities, vacation rentals can be a cash cow right from the start.
· Invest in high-paying dividend REITs: REITs invest in and own real estate and real-estate-related securities, offering everyday investors exposure to institutional-quality portfolios of real estate across every sector within the commercial and residential real-estate industry.
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