Investment Real Estate is a fascinating opportunity. It is one of the few investments that allow you to upgrade your property thru selling without paying income taxes. Now, it does mean you have follow specific tax rules but it is possible to do so. The first step is to own positive cash flow investment real estate. You may want to know the importance of positive cash flow real estate. It is a situation that when the property is occupied with a tenant and you bring more money in than what goes out to pay expenses. Positive cash flow will give you the ability to support yourself or build your investment capital. In the beginning, I highly recommend accumulating the investment capital, so you may purchase more properties or have other types of investments. So don't focus on your lifestyle but building wealth.
Joining us for our discussion on Real Estate Wealth is Lisa Phillips. She helps African American Professionals build profitable rental property portfolios. Her clients are generally first generation college, first generation white collar, and this is the best way to wealth investing in minority neighborhoods. Lisa found that she was laid off for the second time. However, her background was a solid foundation of repair maintenance and costs. After purchasing 4 rental properties around or under 30k in OH, MD, and VA, Lisa Phillips has learned the hard and easy ways of real estate investing in rural, inner-city, and midsized cities properties, all in working class neighborhoods. She is now focused on doing one thing she loves to do: Showing how EVERYONE can affordably start real estate investing for high profits and cash flow, and that its open to everyone with a little ingenuity. Her latest book is Investing In Rental Properties For Beginners Welcome to Mastering Your Money, Lisa Phillips !