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One question that I’m asked is: “How do I actually buy an investment property?”
I’m going to walk you through it all today, step-by-step.
You know, even after I bought my first property, it would have been difficult to recite all the steps. This is partly due to the process’s 30-60+ day duration.
Though real estate has made more ordinary people wealthy than anything else, it is illiquid.
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“DON’T FOLLOW MONEY; MAKE MONEY FOLLOW YOU.”
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This is the exact modest four-plex that I bought in 2002. It was the first home that I ever owned of any kind. It is in midtown Anchorage, Alaska, a city of 300,000 residents.
My mindset and investing philosophy can be summarized by the Robert Kiyosaki quote, “Don’t live below your means. Expand your means.”
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The QRP is better than a Self-Directed IRA. You get checkbook flexibility, control, and avoid paying the SDIRA’s little-known tax.