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In 2020, Erin Helle achieved awe-inspiring results in her real estate investing career. Her income was about $200,000 and she had a portfolio valued at almost $3M. While that might not seem like a lot to everyone, Erin is proud of what she’s been able to accomplish in less than three years working just a few hours a week.
Over the last two years, she has dedicated herself to teaching others the tips and tricks to build wealth through real estate investing. According to Erin, there are 4 main ways to accumulate wealth as a real estate investor.
- Taxes: Once you begin investing in real estate, you are considered a business owner and you qualify for a whole host of tax write-offs. According to Erin, this is reason enough to purchase even just one single rental property. Tax write-offs include your cell phone, internet bill, your home office, etc. While these write-offs alone aren’t necessarily going to make you rich, they are a step in the right direction toward building and retaining wealth.
- Loan amortization: Real estate is unlike any other investment in the sense that you can leverage other people’s money to start investing. Furthermore, if you’re doing it properly, someone else (your tenant) is going to be paying your mortgage. While this isn’t the case in every market, there are markets around the nation in which the rent you generate will cover your mortgage principal and interest, taxes, insurance, property management fees and even repairs!
- Cash Flow: Imagine having extra cash in your pocket, your very first month of investing in real estate! Your cash flow refers to the money you as the investor will take home after all the expenses are paid. The majority of the time, a good investment will yield a cash flow. Of course, there are always months in which repairs may come up, or a unit may sit empty in which this is not the case. However, in most cases, you should see a positive cash flow month over month. For Erin, most of her properties average around $300 a month and her goal is to bring in $3,000 a year in income per property. While this may not sound like a lot on its own, there is unlimited potential to duplicate this until you’ve reached your income goals.
- Appreciation: If you make a good investment, in the right area, you can expect to have someone paying down your loan each month, and hopefully, leaving you with a little extra in cash flow. In addition to this benefit, in most cases, your property will be increasing in value each year. According to Erin, a conservative appreciation rate for the average property in the United States is 3% each year. In certain markets, appreciation could be much more.
Investing in real estate is one of the best ways for anyone to begin building wealth. Erin trains and mentors her clients to invest in the right properties, in the right areas, in order to take advantage of all four ways to build wealth in the real estate industry. To learn more about real estate investing or to access Erin’s free educational resources or coaching program, visit www.bcglobalinvestments.com. Erin’s ebook also provides step by step instruction that will assist anyone in their real estate endeavors: https://bcglobalinvestments.com/e-book/.
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