Okay, what I’m about to say may be a little shocking to you…
But I think you need to be shocked every once in a while to know the reality of building a portfolio and investing passively.
You need to know what the truth really is…
If you think that you're going to get started as a passive investor… and you're only going to buy 1 property, I urge you to invest close to home. I urge you to invest in a partnership. Buy by a REIT.
Why?
Because just 1 investment property—especially when you make it passive and you buy across the country—well, that is an expensive headache… that is NOT a portfolio and that is NOT a retirement plan.
What is it?
Well, it’s a shot in the dark for you.
Hey Moguls, Chris Clothier here—and allow me to explain…
Happy Herman or Debbie Downer
So, the problem with having just 1 passive income property for investors is that it's always going to be one or the other: happy or sad.
What I mean is that your feelings toward your 1 investment property will always be:
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It's occupied. I love it! It's the best investment I've ever made. Money is coming in the way it's supposed to.
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It's not occupied… or I'm not getting my payments… or I constantly have to do maintenance. Whatever the negative side is, it means you're not getting paid.
So with only 1 property—you're either happy or sad ALL. THE. TIME.
1 is the loneliest number
This is why I urge you make a plan to build a portfolio.
And here’s the thing, you can partner with a company like mine or find another company… it doesn’t matter. Choose whichever company fits you… whichever provider out there makes the most sense for you as an investor.
But no matter how you do it, make sure you choose to build a portfolio. You can’t successfully build long-term passive wealth with just 1 property.
You need to let scale impact your life. Look for 3, 4, 5+ properties. That is what builds the opportunity for you in your future.
Now let me be clear and manage your expectations—this doesn't necessarily mean you can retire off 4 or 5 properties…
Some investors can and some can't.
And that's fine… because owning those properties outright at some point in the future—when you've let leverag pay them off—you will notice an impact.
The impact that owning a portfolio can have on the way you retire… when you’re able to retire… and on the fun that you're going to have as a retired person—can be powerful.
So please make sure you make a plan to build a portfolio and execute on it… you have to take action.
If you plan to build a portfolio, you will have success—but if you plan to buy just 1 property, that’s going to fail.
Say something
Got any tips on building a solid passive income portfolio? Share below.
Partner with a investing company that fits your needs and goals as a passive investor.
Consider investing in passive income properties across the US, not just in your local market.
Build a portfolio of several passive income properties to attain long-term wealth.
Chris Clothier
owns and operates three multi-million dollar a year marketing brands including 1-800-SELL-NOW, Find Cash Buyers NOW and Find Private Lenders NOW; each brand, under the REI Marketing umbrella, is designed to help real estate investors and agents reach a specific marketing niche.