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Investing In Real Estate With Stealthy Rich
He has been in real estate for about ten years but realized he wanted to find a way to accelerate his goals. I realized I didn’t want to be in cubical hell for 30 plus years. I wanted action on how my business was run, we started me and my partner of stealthy rich in 2013 with a couple doors, fast forward to now, we have over 20 doors. We have seen how the market has changed so much; real estate is largely involved in the relationship game. This is investing in real estate with stealthy rich.
Our story
When we first started me and my partner Dave decided to mix our skills together of being an attorney and in IT and bought our first house in our name, and decided we wanted to rent out. By just owning this property and renting them out, the revenue was rolling in, we then realized we needed more money to be able to buy other houses. We would buy and flip houses to create revenue in order to have money to buy our rental properties which is how we were able to buy over 50 houses in about three years. We think this is the fastest and most effective way in creating long term wealth.
With so many shortages in today’s age, we see the demand of needed houses, with a shortage in supply. Which made our business slow down a little, although we know that the market will eventually come back up in the future. We start off at 30-year loans. This process with involved with the bank, is very time consuming and is hard to obtain. So, we decided to go another route of a 20-year loan that created a much more lenient acceptance loan rate.
How to get into real estate investing as a beginner
First find an area that has affordable real estate, for us that meant liquid houses with three-bedroom two car garages, preferably single-story homes.
Then once you have narrowed that down, we like older houses due to the fact that they are cheaper for the sane stats as a newer home.
Then we want the rent to price ratio to be 1%. So, 1,000 dollars rent per month for a house that cost 100,000 dollars. All it takes is some research and your willingness to get your hands a little dirty.
It was a struggle to change my mentality when it comes to investing and having debt, I learned to not worry about debt as long as you have a healthy flow of cash flow. Borrowing responsibly is the key to success in using this tactic. Using government taxation and inflation, we can use it to help us rather than letting it hurt us. The value on our homes will increase overtime, we want to have as much safe responsible debt as we can to let our money work for ourselves.
Knowledge is power.
Connect with Stealthy Rich:
Website: https://thestealthyrich.com/
Instagram: https://www.instagram.com/thestealthyrich/
I'm Brittni Schroeder!
I’m a Diet Coke drinkin, chocolate eatin, Netflix watchin, all-around good time! I want to show you how to grow and scale your business. Let’s be business BFFs!
