Episode 1-How the 99% can and should invest in real estate, with guest, Vince Kingston

Vince makes it so easy to understand and digest just how attainable it is for the 99% to create wealth over time with real estate. Here are the key takeaways from this episode:House Hacking is the key for the average American to make owning multiple investment properties a reality. If you can qualify for one mortgage, you can qualify for multiple mortgages by using rental income to help you qualify. Contrary to lots of real estate investing advice, focusing on cash flow alone can be very limiting because if you tell someone that they need $150,00 or more to put down on a property, most people won’t be able to do that in their lifetime. Teaching people that the real wealth effect is owning multiple properties that appreciate over time, and that cash flow can be developed as rents increase, is the key to more people creating wealth with real estate.Choose opportunity over terms when analyzing an investment property. Both Vince and I have created multi-million dollar investment portfolios by purchasing homes with little to no money down. Had either of us waited until we had a 20% down payment, we’d probably each only own one property.Start thinking holistically about real estate investing. Sometimes less favorable terms is the price you pay for the privilege of owning more than one property.  Don’t let this keep you out of the game. Mortgage insurance will eventually fall off, interest rates can be refinanced and due to the shortage of housing supply, there is very little chance that home prices will go down any time soon.Financial investment are faith based, meaning, we invest because we believe that there will be a return on our investment. Real estate is no different.  There was never a 10 year period when we didn't look brilliant, right?Harvesting a property every 5-6 year is a virtuous cycle where you could realize tax free income for life while still maintaining the whole asset base. You only need to have 4 or 5 properties, which is actually the inspiration for the name of this podcast, “A Few Good Doors.”The best time to buy real estate was in the past. The second best time is right now. We have a supply shortage of several millions of homes in the United States, and several decades of data that shows that real estate has always appreciated decade for decade, so it’s hard to imagine a situation other than it continuing to appreciate over time.Vince has graciously offered to give our listeners their own personal "Get Rich Slow," seminar, based on each individual's situation. You can email him at [email protected] to set up your appointment.