S3 E2 Prop Yourself Up For Wealth
In Season 3 episode 2 Arthi & Malika continue with the advent calendar of investments discussing real estate as an investment. They explore some of the most common ways to make money through property investment, the first being buying a physical property. Arthi lists a few of the ways in which you can influence your decision when purchasing a property.
Malika shares a highly useful fact based on renting out space on your property, which can offer a sense of safety & community, but further assists in paying off your mortgage or home-loan at a faster rate. The positive impact of this is that it reduces significantly how much of interest you pay over term or length of the home-loan, you pay your mortgage off quicker which means you save money. Another option could be investing in a holiday home to rent out for additional income. A family vacation spot plus income when you are not on the property.
Arthi introduces another property type which is commercial property which can be upcycled in terms of purpose, such as storage, recreational centres, co-working spaces to name a few.
Malika details the strategy of flipping houses and introduces us to REITs.
Thus, there is a wealth of ideas to help one prop(erty) one's up for long term wealth creation.
Listen in to the episode to hear:
- Income generation options to assist with your mortgage
- Renting out space to assist with the monthly expenses
- Property crowdfunding
- Short term rentals
- Business related properties and the pros & cons that can go with this type of property.
- Flipping properties
- Real estate investment trust
- Farmland
and so much more
Remember: “property value does increase over time”.
We would love to hear your views based on the concepts covered in this episode.
Do rate, write a review, and share with others.
This episode is proudly sponsored by Old Mutual Wealth.
