Greetings from Beach Haven West! Even though it didn't feel like the First Day of Spring with the snowy weather, this morning we were greeted by these adorable Seals sunbathing in Beach
Automatic Home Owner Millionaire 2
So fellows, Here are the couple steps to become a homeowner millionaire. I said it is only couple steps. But i didn't say it only needs couple years. If you don't have couple hundred thousand cash or equity you can use, and you prefer to do it in a safe and steady way, here is the deal:
Step 1 Shopping for a home as first time home buyer
Step 2 Live in the property at least for 2 years
Step 3 Looking for a second home to buy
Step 4 After closing the second home, rent the first home immediately
Step 5 Collecting rent and making payment for both the properties
Step 6 Sell or refinance the rental property when the market is a hot market, pulling equity out from the rental property
Step 7 Using the Equity built in the first bought property to buy a third property.
Step 8 Rent out your third property and collecting rent
It is a monopoly Game. It is easy.But each step needs careful planing. I know you may start frowning. You are going to say, i am not a real estate pros, i have my job. While, the good news is you don't need to be a real estate pro, you just need to know what resource you need and where you can get the help. Do you need to be a pilot when you need to fly from Chicago to Boston? The answer is no. And i will explain the planing you need for each steps. It is very simple! Just like baking cookies!