Wealth Building Tips! Turn your PRIMARY RESIDENCE into a PROFITABLE RENTAL with these 5 tips.

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Holistic Money

3 жыл бұрын

Attention home buyers! Do you know what to look for in your primary residence to ensure not only is it a good fit for your current living needs, but also could easily be converted into an investment property at a later date? When searching for a home, it's so easy to get wrapped up in the process and forget that your home serve more than one need: It can provide a place to live AND help build your wealth. In this video, I go over 5 things to look for in your home purchase to ensure you can easily turn your home into a profitable rental at a later date. These 5 strategies could be a GAME CHANGER for your wealth building trajectory in the future. This is truly some of the most life changing advice you will ever receive. I wish I would have known to look for these things earlier!
*DISCLAIMER: In some areas, it may be illegal to price test properties you do not own on Craigslist or any other outlet. Make sure you only price test properties you own!*
Instagram: holistic.money
LinkedIn: www.linkedin.com/in/whitney-morrison-cfp/
Facebook: WhitneyMorrisonCFP
Website: www.holistic-money.com
#passiveincome #incomestreams #financialindependence #investingforbeginners #budgeting #goalsetting #financialgoalsetting #Money #Financialgoals

Пікірлер: 30
@NathanHQ
@NathanHQ 3 жыл бұрын
hey Whitney...just found your channel....real estate is such a good wealth building topic..this is actually what I did myself.... thanks for sharing....keep in touch...Like 9 mate🙂
@HolisticMoney
@HolisticMoney 3 жыл бұрын
Investing Made Simple - Nathan Sloan welcome! I’m so happy to hear that you’ve used real estate to build wealth! That’s awesome.
@financiallift6185
@financiallift6185 3 жыл бұрын
Even if you aren't planning on renting, you may change your mind so great information and points to be thinking about! Full support here!
@HolisticMoney
@HolisticMoney 3 жыл бұрын
Exactly! It's so good to realize the potential, at the least! Happy to hear you agree!
@mojavedesertsonorandesert9531
@mojavedesertsonorandesert9531 2 жыл бұрын
This is exactly what I'm looking for! I have a home and want to rent it out, moving two hours away buying a new home...
@WagnerSaucedo
@WagnerSaucedo 3 жыл бұрын
Real Estate investing is definitely one of the best ways to build wealth! Awesome insights!! keep it up my friend!
@HolisticMoney
@HolisticMoney 3 жыл бұрын
Wagner Saucedo I’m happy to hear you agree!
@Mo-tn7lv
@Mo-tn7lv 3 жыл бұрын
I realised all this after I bought my first, since then I'm saving to buy a second (which will pay for the third etc etc😁).
@HolisticMoney
@HolisticMoney 3 жыл бұрын
Better late than never, right??? Love your plan though!
@fififinance7469
@fififinance7469 3 жыл бұрын
This is a topic very true to my heart. In the UK. interest rates for primary residence is way lower than for investment properties. Likewise, the bank will give us permission to have 'lodgers' in the property provided theyre not given tenancy contracts, and we are also encouraged to do so by our tax authority which give us an allowance for tax free income. I know slight tangent from your video but did want to mention it :)
@HolisticMoney
@HolisticMoney 3 жыл бұрын
I love it when you share these insights on owning property in the UK! It is so interesting to hear the differences in things like taxing and interest rates. Thank you so much for mentioning it!
@fififinance7469
@fififinance7469 3 жыл бұрын
@@HolisticMoney lol my pleasure - its a big topic for us given so much of income is derived from real estate investments
@hakimpoetry
@hakimpoetry 3 жыл бұрын
Yasss exactly I really love that you are helping ppl here to achieve financial freedom! Though I do really have a big knowledge in finance! I had fun watching ya talking about it❤
@HolisticMoney
@HolisticMoney 3 жыл бұрын
Hakim Poetry thank you! I’m happy to hear you enjoyed it!
@panlasangpilipinobyshaicol8564
@panlasangpilipinobyshaicol8564 3 жыл бұрын
Like11. Very interesting topic my new friend. Sending my full support. See you around.
@HolisticMoney
@HolisticMoney 3 жыл бұрын
Panlasang Pilipino By Shai Collantes I’m happy to hear you enjoyed the video! Thank you for the support!
@apip6387
@apip6387 3 жыл бұрын
I agree with cutting cost of your primary living home. You should make video on showing how can one go finding out their city zonning/planning laws. Can someone on office answer it? Thanks..
@christopherbarreras9953
@christopherbarreras9953 2 жыл бұрын
Thank you
@budgetbirdy100
@budgetbirdy100 3 жыл бұрын
Hi Whitney -- this is SO crucial. When I buy my first house here in Philly (next year, I think) I want to find a place that has some sort of investment potential.
@HolisticMoney
@HolisticMoney 3 жыл бұрын
Yes! You'll be looking at properties from a completely different perspective. Congrats on being close to homeownership!
@odleandrea
@odleandrea Жыл бұрын
I do live in California so what are my options?
@budgetbirdy100
@budgetbirdy100 3 жыл бұрын
P.S. I LOVE your top so much!
@HolisticMoney
@HolisticMoney 3 жыл бұрын
Thank you!
@marisolquiroz3211
@marisolquiroz3211 2 жыл бұрын
Where can we find the zoning info??
@geminigirl1111
@geminigirl1111 2 жыл бұрын
i’m so glad i found this video!! i’m getting ready to rent my house out that i bought last year with FHA!! I have satisfied the one year living requirement. Should i set up an LLC? if so, how can i go about this so that the mortgage company doesn’t demand the due at sale clause?
@lindafinch6252
@lindafinch6252 2 жыл бұрын
Land Trust
@LSantiago65
@LSantiago65 8 ай бұрын
What about capital gains if you decided to sell the house in the future?
@willnguyen4502
@willnguyen4502 17 күн бұрын
I believe many Primary homeowners have a substantial amount of equity built up. You would lose that Capital Gains option by renting their Primary. Why wasn't this addressed here?
@miraanderton2708
@miraanderton2708 3 жыл бұрын
A question for you! Can you rent a out new home ( still building) if you put 20 % down payment right after you receive the key or do we need to live there for awhile before rent it out? Thank you!
@gabs2424ify
@gabs2424ify 3 ай бұрын
My question is this as well
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