Real estate is the most powerful thing in the world. It's Earth. How could you not want to own a piece of Earth at some point in your life? Expert after expert will drive you to think that it's a perfect time to buy, or a horrible time to buy, or to wait six months for prices to hit rock bottom, then buy. Experts on television are not always paid for their thoughts, sometimes they're paid to read from the teleprompter. What do you believe? Who do you believe? The bubble is coming! It's about to pop! Sell all of your real estate now!
What I Do - Real Estate for Retirement
First of all, I'm 32 years old and I don't listen to television or experts. I own 3 pieces of real estate today; a residential home and 2 condos. I acquired them without being an expert and I acquired one at the highest peak, one in the middle and one on the lower end of the decline. I feel like a king. When I bought my first home I laid on the carpet of the completely empty home as if I was about to make a snow angel, and shouted at the top of my lungs, "IT'S MINE!" No matter the price I paid or will pay in the future, I will own mostly all of my real estate until retirement. If and when I sell a property it will be for the sole purpose to buy two more. Without a full layout of my plan, I'm on route to retire and let my rental income pay for my expenses. Real estate is a supply and demand format based on the most popular locations in the world. For instance, if you want to find the most expensive piece of real estate in any given city, simply drive to the center, find the tallest building and walk up to the top floor. Being in a city is more popular than being on the outskirts of the city. Being in the penthouse is more appealing than being on the first floor. Overlooking an ocean or lake is more appealing than being 5 minutes from the ocean or lake.
However, all real estate is desirable to someone. Mortgage rates are still low. Refinance & Lower Your Payment! You can't go wrong with real estate! When a bubble pops, it pops and it no longer exists. When real estate is in a slump it means people can't afford to buy a home or simply don't want to. There's never much of a slump for ocean front property or penthouse condos because they're desirable all the time, and there's rarely an overabundance of penthouse listings. 100 Years Ago Think back, way back. Some of you might still have a home with a waist-high rock wall around the perimeter of your land. People had the same thought process 100 years ago when they built barriers, "It's mine! Stay off my property!" In fact, you're still allowed to own a gun to force people off your property in 2015. People still fight wars over large pieces of land and neighbors still fight over a few inches of land. With that many people fighting for land, why do experts think people should opt out of buying at any point in time? There's a sense of pride that one gets from owning land and that's worth much more than the money to buy it. It's also worth more than buying at the exact perfect moment that is somehow determined by the "bubble experts." If you want advice from an expert, seek it from Donald Trump.
Owning real estate is not easy and it's not cheap, that's why it's a huge feeling of accomplishment.