One of the best ways to get rich and make the social leap from the lower to upper class lifestyle according to gay realtor Miami is to get in the game of property ownership and investing. In fact, just about every single self-help ever written has always advised renters to get out of the Catch-22 of renting that consistently puts you in a position where you are paying off somebody else’s mortgage and instead start acquiring equity of your own.
Owning your own home makes sense in a big sprawling urban center where decent rental units do not come cheap and where you must hand over thousands in security deposits and fees before you can even qualify for a rental. In some cities in North America it is just simply much less expensive to own a home rather than rent. Gay realtor Miami has noted that there are hundreds of thousands of residents living in inappropriately small spaces, run-down spaces and in spaces that are located in dangerous communities and paying almost as much money for the privilege of doing this as they would if they decided to take out a mortgage and make a payment on a home. Of course sometimes this means living more affordably by living a little less centrally and also it can mean borrowing money to get started.
It is not secret that great places for rent are hard to find in Miami and especially in the Art Deco area of South beach. Many renters have terrible tales about being ripped off by greedy landlords who know that they can replace a tenant with another tenant tomorrow. Many prospective renters decide to try and buy a place to live, no matter how small, because they are daunted by the application process or the crowds of people that turn up just to rent one cheaper space.
Given that Miami needs affordable spaces and good landlords it is not such a bad idea to try and become one yourself by acquiring properties and renting them out. If you maintain the property and have affordable rent your units will always be in demand and you will always have an income flowing in from your property investment. If you really want to make a lot of money try rehabbing and flipping homes along Miami’s coast where hurricanes have done damage. These properties are cheaper, have pools and sometimes boast beautiful waterfront footage. If you can sell a tenant a lifestyle such as luxurious tropical living you can make a mint in the Miami rental market in just a few years. In some damaged areas financial assistance from the government may be available to boost development and help property investors build new homes and buildings for business.
Owning rather than renting has been the advice of wealth investment experts for centuries. Every contemporary wealth expert including Donald Trump, Robert Doyen, David Chilton and gay realtor Miami has advised that the best way to stay poor is to be stuck in the rut of renting. Owning rather than renting is the first step to wealth because you are finally paying yourself first rather than putting a landlord first.