How to Rethink Real Estate as an Investment to Build Wealth

Think your home is an investment? For most people, it's not.  Learn how to rethink real estate so you can build your wealth and become financially independent! Buying a house is usually the biggest purchase we make. Right now in the United States, the median price of homes that sold is $225,900. For those living in high cost of living areas like California and DC, you're looking at closer to 350k to $400k respectively. Just considering the numbers, you can see that you really need to do your homework when it comes to buying your house. A misstep or mistake can cost you a significant amount of money. I don't want that to happen to you. When \ever you buy your home I want it to feel like a blessing and a burden. We've had several episodes about the house hunting, getting a mortgage, and finding the best home for you. Today, though, I want to get into the root of every bad decision we made when it comes to real estate - how we approach it. I can't even count how many people had such strong opinions when we were house hunting. And not all of them were right. There so many justifications for buying any house. 'You're throwing away money when you rent' 'Take advantage of the tax savings' And my favorite - 'real estate is an investment' People were saying this and they no idea what kind of house or neighborhood we were looking at. That's not to say buying a house is a mistake. It can actually be a smart move when done right. And if you're looking at investing and are willing to put in the work, real estate can be an income stream. But how you approach it makes all the difference. Which is why I asked Julien and Kiersten, the creators and the couple behind Rich and Regular to come on today. They are not only are homeowners, but they are also real investors who are working towards financial independence. Their properties are a part of their plan so I thought they would be perfect to talk about how to approach real estate wisely. In this episode we'll discuss: Why they don't consider their home an investment How they got into investing in real estate Their strategy around real estate to reach financial independence Hope you enjoy! Resources for Buying a House If you two are ready to get the balll rolling with buying a house or start looking at real estate investing, here are some resources to check out: Best Budget and Money Apps: Personal Capital, Tiller, Mint Automatic Saving: Qapital Free 401(k) Analysis: blooom Jumpstart Your Marriage and Your Money Why our new home is NOT a real estate investment The "other" skills you need to be a real estate investor 5 Key Ways to Pay Your Mortgage Off Faster 5 Reasons to Choose a 15-Year Mortgage Which is Better for You – a 15 Year or 30 Year Mortgage? What You Need to Know About Mortgages Support the Podcast Thank you so much for listening! Spread the word! If you enjoyed this episode and think it can help a buddy get on the path to dumping debt and become financially free, please share. Leave a review. Honest feedback and reviews make a big difference and gets the word out about the podcast. I'd love for more couples to work together to dump their debt and pursue their dreams together! Please leave your review on Apple or Stitcher. Grab a copy of Jumpstart Your Marriage and Your Money. My book is designed for a busy couple to set up their finances in 4 weeks. Get tips and tools that have worked for other couples on their journey of building their marriage and wealth together! I appreciate your help. Let's make talking about marriage and money fun! Music Credit Like the music in this episode? Our theme song is by Gentle Regime. Additional music by Lee Rosevere

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