Here’s another way real estate can be a great way to get in control financially and help you have more money for retirement:
If you structure your real estate deals appropriately, they will be lucrative enough to allow you to take a portion of your profits on a monthly basis and draw off as business income to accelerate down either personal or business debt.
Additionally, when you increase the value of your real estate holdings, you
decrease the “loan-to-value” ratio, which suggests you can then possibly refinance the property to provide cash needed to reinvest in additional properties or improve existing ones.This cycle of improvement/debt reduction facilitates the elimination of debt and helps accelerate the speed with which you can increase net worth. Be sure to use the Money Mastery Power Down technique to create a plan for using real estate income to eliminate personal consumer debt much quicker and/or restructure good investment debt in various properties to acquire more net worth.
For more information on the power down approach, contact me: alan@moneymastery.com, 801-292-1099.
