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What does retirement mean to you?
If you're like most people, your most likely answer is, "so I can get away from my job."
But in reality, retirement means being able to spend more time doing the things that light you up while focusing on what really matters to you.
Maybe it's spending more time creating experiences with your family. It could be spending more time with friends. It could be having time to build a business that you're passionate about.
The common word in the above paragraph is "time."
For me, it's a combination of all those thing. As my children continue to grow, I'm realizing more and more that I only have a few short summers left until they're grown adults starting a life of their own. I'm often reminded a quote attributed to Dr. Carlos Campo, former president of Regent University, "our kids spell love as T I M E."
This is why multifamily investing was a smart choice for my family and is a smart choice for you too.
Here are 3 reasons why I feel this way:
Cash Flow: One of the biggest advantages of investing in multifamily real estate is the potential for consistent cash flow. With multiple units generating rental income, the cash flow stream can be more reliable than investing in single-family homes or other assets. This means you earn passive income that can help cover your living expenses in retirement, allowing you to focus more on things that matter to you.
Appreciation: Over time, multifamily properties can gain value through renovations and upgrades, which can demand more rent. Since multifamily (5+ units) are valued based on the income they bring in, the higher income causes an increase in value. By investing in a growing area, natural appreciation occurs over time on top of the forced appreciation caused by the renovations. When the deal operators sell, you get to share in the profits.
Tax Benefits: Private ownership of real estate is incentivized by the government through tax benefits. Of the greatest benefits is being able to write off depreciation. This is when the government allows you to take a loss on the structure even if there was no actual loss. This benefit doesn't stop at the only the deal operators, but gets passed to the investors, allowing you to keep more money in your pocket.
With any investment, research is required. Talking to experts such as your tax professional, other multifamily investors, reading books, listening to podcasts, etc. are all great ways to get yourself educated on multifamily investing.
If you'd like more information, you can always reach out to us by clicking the link below and setting up a call.
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