As a generational thinker, I always have to be on the lookout for another stream of income. Not just a quick buck, but something that can be kept in the family for a long time. My grandpa made a lot of money investing and renting real estate. It is very lucrative if you have the right temperament for it. I was lurking around Zillow yesterday and stumbled upon a few multi-family homes.
This is an 8 unit building. The building needs some work, but it is an amazing deal. Apparently the units that have been renovated rent for $1200. If you do the simple math, $900,000 w/ $150,000 down equals a total mortgage of $4300 a month. 8 units at $1200 each equal $9600 a month.
Of course, you would have to put a lot of the initial money back into the place but eventually, you would be swinging a nice profit. You then bring the children up to speed. Before you know, the family has a nice income-generating asset for the next 50-60 years. Unfortunately, I am going to Japan soon, so I will not be able to move on with such a good investment opportunity. There will be many more opportunities moving forward.
Disclosure: I am not a financial advisor or money manager, and any knowledge is given as guidance and not direct actionable investment advice. Please research any investment vehicles that are being considered. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it. I have no business relationship with any company whose stock is mentioned in this article.
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