4 Ways to Build Passive Income Through Real Estate | Think Like the Rich!
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The video discusses how owning rental properties is a great way to create wealth without using your own money and paying little to no taxes. There are four main ways that owning a rental property can make you a millionaire: cash flow, appreciation, loan paydown, and tax benefits. Cash flow starts out at $200-$400 per month per door and grows over time. Appreciation is when properties go up in value, and real estate appreciates like crazy. Loan paydown is when tenants pay off your mortgage for you. Tax benefits include deductions for expenses and depreciation. By creating and buying more assets that each produce a little bit of cash flow, you can exponentially grow your wealth. You can buy rental properties using other people's money by borrowing from hard money or private money lenders to purchase a property at a discount, fix it up, get it rented, and then take it to a small local bank to write you a check for 80% of what the property appraised for. You can do this over and over again and grow as much wealth as you want because there's no limit to how many rental properties you can own. Overall, owning rental properties is a great way to make your money work for you and achieve financial freedom.
The video discusses how owning rental properties is a great way to create wealth without using your