Looking to Go from Paying $2500 to Earning $2500? The Solution is Simple - Become a Landlord!

Paying rent every month can feel like giving away your hard-earned money to someone else. However, what if we told you there was a way to transition from constantly paying rent to making money from it? As crazy as it may seem, becoming a landlord is an excellent way to earn passive income and build wealth. In this blog, we'll explore why being a landlord is a wise financial decision and how to get started on your journey to financial freedom.

Rent prices are soaring nationwide, especially here in New England. According to CBRE, rent has surged by 8.4% as of May 2023, compared to a 5.4% increase in 2022. This means that renters are paying more than ever, which makes owning rental property an even more attractive financial opportunity.

Instead of criticizing high rent prices and landlords, have you ever considered becoming a landlord yourself? The solution may be simpler than you think.

Granted, being a landlord comes with responsibilities, but should a few maintenance calls (which can easily be outsourced with the right team) deter you from building wealth? Instead of thinking about the negative aspects of being a landlord, think about the financial benefits.

Let's crunch the numbers (in New England) - imagine purchasing a 3-unit property for $600,000, living in one unit, and renting out the other two for $2000 each ($4000 total). You may be accountable for around $1200 a month for mortgage and property maintenance (rough estimates). For $1200 a month, you can own your property, gain equity every year, and even leverage that equity to acquire another house. It's an effective way to build long-term wealth.

You don't have to be a seasoned real estate investor to buy rental property. All you need is the knowledge and the right team to make it happen. Start by talking to a reputable real estate agent for rental properties and a mortgage professional who understands the process of buying and financing a rental property. You will also need to find a reliable property management team if you don't have the time or desire to manage your property personally.

Transitioning from constantly paying rent to earning money from it is a wise financial decision. Owning rental property can provide passive income, build equity, and leverage that equity to acquire more properties. All things I teach more about in my online course The ULTIMATE Homebuyer Course. Despite the responsibilities that come with being a landlord, the benefits far outweigh the negatives. With the right team and knowledge, purchasing rental property is achievable and can potentially change your financial future. Don't wait to make this financial decision - do it now and reap the benefits!