Franklin Roosevelt was once quoted as saying:
“Do something. If it works, do more of it”
Step 10 is perhaps the easiest step of all as it simply involves repeating steps 1-9 and continuing to increase your wealth through various investments in real estate syndications.
So, let’s recap:
Step 1: Define your goals – Start by identifying what it is you really want – life goals and financial goals. It will help you draw your roadmap and dictate your investing decisions.
Step 2: Research investment options – Do you research, get educated and meet as many syndicators as you can to see who might be the best fit for you.
Step 3: Evaluate potential opportunities – Sign up for syndicator’s mailing lists so you receive new deal alerts.
Step 4: Review the project specs – Attend the webinar and ask questions. Get to know the team, market and deal a little better.
Step 5: Sign up for the investor portal – Use this as your home base to subscribe to the deal and keep track of your documents and investments.
Step 6: Review and Sign the PPM – Read through the subscription docs carefully or get an attorney to review them for you.
Step 7: Wire the funds – print the instructions and bring them to the bank with you and verify your account numbers before submitting!
Step 8: Let your money work for you – sit back and enjoy your distributions while the sponsorship team works the business plan!
Step 9: Reinvest funds via a 1031 – Defer capital gains taxes by investing directly into another like-kind investment.
Step 10: Repeat and grow your capital – Enjoy the benefits of compounding as you continue to grow your wealth through real estate.
It’s that simple! Now, of course, you can make small adjustments along the way by investing in different asset classes, in various parts of the country (or world), etc. But one fact has consistently remained true: 90% of the world’s millionaires become so through owning real estate.
So get started on your journey to financial freedom!