After learning the books Rich Dad, Poor Dad as well as Millionaire Next Door, I was convinced that I needed to own rental properties in order to be rich.
It was a smart investment move.
For the most part, I agree with rentals as well as diversifying your wealth. However, being a landlord isn’t meant for all the people. When you only have a few rentals in your portfolio, hiring a home manager isn’t the financially smart decision. So then you are just sort of stuck getting more rentals, hoping it affords a manager, as well as then sinking more as well as more money into it. I realized hastily that I would either need to spend a lot to receive a portfolio or just tap early. I decided that I was already sick of being a landlord as well as it had only been a few years of it. I decided to offload my entire rental home portfolio. I could have listed the properties online. I didn’t want to go one by one with them though. I also wanted to get money to invest in stocks as well as bonds. I wanted to absolutely diversify my wealth but not do a whole lot. So I looked at Florida buyers that do money offers for rental properties. The Florida real estate agent company that I worked with was great. They gave me a money deal for my entire portfolio. I didn’t need to kick leaseholders out, make repairs, or even phase the places. I just had to sign. That was a relief. Having money in hand to right away buy stocks was a bonus too.