Want to Become Financially Free? Start Investing in Apartment Buildings!
It is not easy to become financially free. Investing in real estate is one of the safest ways of achieving financial freedom. Most real estate investors stick to residential deals. This works but you need a lot of properties before you are financially free. By investing in commercial real estate you can achieve financial freedom much faster. Most people have never really considered commercial real estate. They think it too difficult to get started, believing you need a lot of money and knowledge. The truth is that it is much easier to become a commercial real estate investor than you think.
Getting started in commercial property takes a lot of courage. But that is the main problem. You do not need huge amounts of cash to buy commercial real estate. You buy commercial property using a company, not in your name. This makes it less risky than most residential deals, since that the numbers are much bigger. The company is liable for the loan, not you personally. Since the loan is based on the cash flow of the building, not on your personal ability to repay the loan, poor credit history is seldom an issue. In fact, for people with poor credit history, commercial deals may be the only option. Residential deals generally requires a good credit history, otherwise you will not be able to borrow the money needed to close the deal.
While residential transactions are more or less standardized, commercial deals can include all sorts of agreements. Sometimes you can get 100% vendor financing and also throw in most of the closing costs into the deal. One of the biggest myths of them all is that you need a lot of money to buy commercial properties. Especially with motivated sellers, you can close deals with very little money.
Why buy apartment buildings? Because they offer a fairly safe and stable cash flow. As beginner it is easiest to start with apartment buildings. Later on, you can diversify into other types of commercial real estate. It takes a lot of courage to buy your first apartment building. But investing in apartment buildings can be your ticket to financial freedom. Becoming financially free is not easy but investing in apartment buildings is a reasonably safe and fast way of getting there.