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Investing is not just for the rich – it’s a powerful tool that anyone can use to build real wealth and achieve financial freedom. But investing isn’t easy, especially if you don’t know what you are doing. Most people make mistakes when they invest because they do it without a plan or guidance from an expert. In this month’s article, I will tell you how to make millions like an investor, so you too can generate indestructible wealth. Following are the five traits of successful investors:
Rarely will you see a wealthy investor who keeps his coin in the bank. They usually invest their money into real estate or stocks that provide them with real income. People who are deep in debt are most likely to hold on to their savings, because they are scared of making risky moves. Savvy investors know that interest rates are near zero, so they understand there’s no real benefit in keeping their money in the bank.
The top investors know that investing in real estate is the best way to get rich, because you buy tangible assets that appreciate over time. They know that real estate will only increase in value and is the best investment vehicle you can use to generate real wealth. As an investor, your goal should be to purchase real estate at a discount and sell it for a much higher price. Real estate investing pays you actual cash month after month, because the rent exceeds all expenses associated with the real estate asset. This monthly income is tax-free, as long as you can prove that you invested.
Most real estate investors make cash monthly and they don’t invest in real estate that requires a lot of money and time upfront to maintain the assets. This is important to note when looking at real estate, because properties that are newer and in good condition will require less money for upkeep. However, I wouldn’t avoid enhancing your real estate property; people can make their property more valuable and save money by being a landlord or house-flipper who does all of their own work.
They invest in assets that give massive tax benefits.
The best investors are incredibly clever regarding taxes, because they know how to reduce their real estate taxes to almost zero. Owning real estate comes with many benefits, but the tax advantages take one of the top spots. These advantages are used to offset income.
Most people gamble when they invest their money without fully understanding the consequences of what will happen if they lose. That’s why most gamblers are broke guys who can’t afford to pay their rent or bills at the end of the month. Gambling, playing the stock market or investing in cryptocurrency might seem like great ways to “get rich quick,” but those investments are highly volatile. Investors know that to produce money over their lifetime, they must play the long game. Only real estate investing can provide real income while building tangible assets.
A New York Times bestselling author, Cardone is the world’s No. 1 sales trainer and an internationally renowned speaker on leadership, real estate investing, entrepreneurship, social media and finance. His privately-held companies have annual revenues exceeding $100 million. Forbes named him No. 1 of the “25 Marketing Influencers to Watch in 2017.” He regularly appears on Fox News, Fox Business, and MSNBC and writes for Forbes, Success Magazine, Business Insider, CNBC, and Entrepreneur. He urges his followers and clients to make success their duty, responsibility and obligation. He currently resides in South Florida with his wife and two daughters.
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