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Stay Focused S2 Ep4: How to Create Wealth Through Real Estate

Randal Engelmann & Erik Gould

We are Randal Engelmann and Erik Gould, partners in providing exceptional customer service. Together we offer both buyers and sellers the highest leve.

We are Randal Engelmann and Erik Gould, partners in providing exceptional customer service. Together we offer both buyers and sellers the highest leve.

Feb 7 4 minutes read

This week, Erik & Randal give TRADE SECRETS on how to make money through real estate!

Kidding! We talk about the basics of how you can invest your money through homeownership. You won't believe the difference in net worth between a homeowner and a renter. To think of it another way, a home is a savings account. Every time you pay your mortgage, you are contributing to your net worth. Every time you pay your rent, you are contributing to your landlordā€™s net worth.


TRANSCRIPT:

Randal:

All right! Welcome back everybody to Stay
Focused, our weekly video blog. I'm Randal Engelmann.

Erik: 

I'm Erik Gould.

Randal:

I just wanted to chat with you guys just for a few moments
today about creating wealth through real estate

Erik:

How to create wealth through real estate?

Randal:

It sounds like we're gonna come up with some really big secrets. Right?

Erik:

No. It's pretty basic.

Randal:

Yeah, it's pretty basic indeed. Basically, to give you the boring statistics to begin with, the average net
worth of a homeowner in the United States today is $231,400. It's a fairly significant amount of net worth.

Erik:

Yeah, that's a nice chunk of change versus the average net worth of a renter is only $5400.

Randal:

That's quite a bit of a difference.

Erik:

Yeah. That's forty-five times greater wealth a homeowner has on average than a renter.

Randal:

You want to create some wealth in your life: buy a home.

Erik:

Yeah, we could say, personally, that has been one of our driving forces when we bought our first home quite a few years ago. It's quite scary. Yeah. But it was also life-changing in many ways and a big help for us and changing our perspective around wealth. And for many of our friends and family and our clients that we work with, we see how that really helps them and change them.

Randal:

Yeah, that was a huge shift for us and that was part of the reason that both Erik and I entered into real estate was buying our first home it made a difference for us and we really influenced our friends to make similar purchases of multi-family homes or what they could afford. 

Erik:

And it doesn't take a lot of money to get into real estate, believe it or not. 

Randal:

Yep. You don't need 20% down to make a down payment. You don't need to have a 780 credit score. There are certainly programs available for those that have less down and lower credit scores. Might it also be a good idea for people that already have a home to maybe make an investment in a
multi-family property or rental property?

Erik:

Yeah. Again it's a great generator of wealth. Yeah. So we can help you out taking those steps. Feel free to give us a call, drop us a line here, make a comment below. We'd love to hear from you!

Randal:

Thanks for watching today. Any questions about that let us know and until next time, don't forget to like us on Facebook and subscribe to our YouTube channel.

Both:

Stay Tuned and Stay Focused.

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