A home is the American dream, right? A white picket fence, a yard for the kids to roll around in, and setting your roots down for 30 years—it sounds so appealing to many people as an investment.
But a single-family home is usually not a good investment—it’s a liability.
Here’s the true cost of buying a home:
Down payment + size of mortgage + all the interest payments + all the taxes + all maintenance + opportunity cost of time
The opportunity cost is the biggest cost of owning a single-family home.
It doesn’t cash flow if you live in it, but if you do rent it out for cash flow and that person leaves, you’re back to being 100% vacant!
You want to have multiple doors to rent, that way even if 5 or 6 people leave you’re still 85% full.
You don’t want just one McDonald’s—you want 50 of them.
Why does network marketing work? Because you’re not dependent upon one person, you got hundreds and thousands of people.
With single family homes, even if you rent them out, you just can’t scale. You can’t have the economies of scale unless you buy the whole neighborhood, but then you have the whole neighborhood calling you.
And what happens to single-family homes if interest rates go up? Watch Real Estate made simple every Monday for more!
Get your seats to see me and the other amazing experts we will have at the 10X Growth Conference 3 https://10xgrowthcon.com/tickets
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