Mary King's eNews - Grow your Wealth with Real Estate
November/December 2007
Hello,
Passive income is money received without you having to do anything at all. It comes from your investments. Where does the money come from to invest? You save it! You pay yourself first. Regularly put 10% of your earnings into your Freedom Fund Jam Jar and watch it grow. You're a fine reason to save your money!
When your passive income exceeds your expenses you are financially free. You no longer have to work to earn money. You may still choose to work because that's what you would like to do, yet, you don't have to work.
One of the challenges we have when we want to invest is to know how, when and where to put our money. I remember when my uncle died and left me some money I had no idea what to do with it. I ended up buying gold ingots that promptly went down in value.
I like Real Estate as an investment medium. Historically Real Estate is a very safe, steady and solid investment. Also it's a tangible asset (shares are paper assets which are intangible). With a tangible asset you actually feel richer.
There are ways to get into Real Estate with little money. You can start small with perhaps a storage unit or a car park and then move on to an apartment, a country property, a city property, a house, a commercial property or a block of apartments. Banks are usually willing to use your deposit and make up the balance so you can purchase the property. By borrowing from the bank to buy Real Estate you are activating the universal principle called leverage (doing more with less). Your deposit (less) controls a bigger amount of money (more). The bank takes a mortgage over the property and charges you interest on the loan.
Investing is not risky. Speculation is risky. Investing is doing the right thing so there is a guaranteed result at the end. Use common sense to work out the numbers. Calculate the outgoings and the money coming in. If the numbers make sense it is ok to go with the investment. Once you've started it's easy to buy your next property using the equity that accumulates with time.
Long before I bought my first investment property I attended a Real Estate Investment Seminar and got ideas of how I could become wealthy buying Real Estate. On Saturday February 2nd I will be conducting a Rich is Better - Real Estate Workshop. You can find out details by clicking here. (Of course there is an early bird incentive.) The course is suitable for those who already have savings as well as those still socking money away. Hope you can join us.
Just published, with contributions from 53 leading experts in personal and professional success, is the e-book "Expect More from 2008". Networking Guru Robyn Henderson assembled it. I'd love you to have a copy - not just for yourself, but also to share with your friends and family. It's a wonderful gift leading up to Christmas and the start of a new year. You can download your copy here.
As this is my last letter for 2007 I would like to wish you all the best for the holiday season. Take care. Have a wonderful festive time and perhaps schedule some rest and relaxation.
In October I attended a delightful nurturing yoga weekend retreat for women at Phillip Island conducted by two wonderful teachers. I highly recommend the weekend for restoring your energy and vitality. No previous yoga experience is necessary. All meals and accommodation are included. Visit the website to make a reservation www.yogaathome.com.au
Best wishes for a safe and prosperous 2008.
Mary King
Rich is Better - Wealth for Women
Phone 03 9882 1886
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