The Different Ways Of Becoming Rich Through Real Estate

We all aspire to be rich and successful and build a legacy for our family. People spend all their lives working and earning money. But the problem with a 9-5 job is that you trade your time for money. If you don't work for a few days, you don't get the income for the days you missed. You'll feel like a caged animal with no freedom in your life.

Do you want to achieve financial freedom? Do you wish you could just take a long vacation and nothing will happen. Well you've come to right place!


Real Estate is one of the easiest way to achieve financial freedom if done right. I'm going to show you few ways you can get rich through real estate.

1. Buy, fix up and sell single family houses in need of repair

This is one of the greatest markets of all time. Nowhere else can the average investor start increasing wealth faster. Many of the skills needed are common - sense ones. First, you secure a property that is priced low because it needs repair. Then, you do these repairs yourself; and finally, you resell the property to a retail home buyer.

You start by looking for single-family properties that may be in distress but that do not require major repairs and that are low enough in price to permit a robust profit on resale.

2. Buy or control property to wholesale or "flip" to another investor

 An alternative version to buying the fixer-upper, doing the work, and re- selling it is to secure the property by contract and assign your position in the contract to another who will close and do the work. This is called wholesaling or flipping.e

Wholesaling or flipping a property means that you sell a property, normally as is, very soon after you
secure it by agreement. Some investors concentrate on wholesaling as a primary activity. You might

 take title and resell in a simultaneous closing—buy and sell at the same sitting—or sell before taking
title.

Wholesaling is perfect if you don’t want to take title on a property and follow through with the necessary amount of fixing up and waiting for a retail buyer to come along. It’s also great if your skills lie in negotiating deals with owners, or time constraints work against your doing the necessary repair project. It’s a great way to make a profit without spending a lot of time, tying up much cash, or triggering a mortgage commitment.

3. Lease Options

 Lease/optioning property you control a property by leasing it from a willing owner who gives you an option to purchase the property sometime in the future. Favorable lease terms such as low monthly cost, long duration, ability to sublease, and a reasonable purchase price in the future are all terms you want to negotiate. In a typical lease/option deal you become sublandlord and rent out your leased
property for a higher price than you pay to the owner to a tenant committed to buy at some future
time. To insure this purchase you receive from your tenant- buyer a down payment, and in turn you
give a credit of the monthly rent toward the agreed upon purchase price. Only at the future closing
will your renter take title.

It’s an advantage for this renter because it gives him or her a chance to build up equity in rent credit as well as time to save more down payment before taking title. The renter also gains any appreci- ation in the property. For you as an investor it allows a profit as you net the difference between the lease amount you pay the owner and the rent the tenant pays you, while further receiving a cash gain at the closing of the future sale.

4. Buy and Hold Single Family Homes in the long term

This involves buying and holding the single-family home for a longer period. The buy-and-hold technique relies on the long-term appreciation of a property over a 3 to 20 year period. Here we examine the continuing renting and management of a single tenant in one property and how it differs from shorter-term techniques. Buying and holding a house that does not necessarily need rehabilitation but perhaps is worthwhile because of location or price can end up being a bargain as time increases its value. Many investors have used their investment skills to profit from long-term single-family rentals.