1213: How To Know If You Are Ready To Buy Investment Property by Bruce Young with Financial Finesse on Real Estate

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🗓️ 5 July 2020

⏱️ 7 minutes

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Summary

Bruce Young with Financial Finesse shares how to know if you are ready to buy investment property. Episode 1213: How To Know If You Are Ready To Buy Investment Property by Bruce Young with Financial Finesse on Real Estate After years in the financial services industry, Liz Davidson became disgusted with how many people were being sold financial products and services that were not in their best interest. She decided there had to be a better way to provide people from all walks of life with truly unbiased financial guidance--designed to line their pockets, not their financial advisor’s. This is the story of Financial Finesse and how they give employees and employers unbiased financial wellness as an employee benefit. They help your employees maximize their compensation and benefits by making better financial decisions. You become a partner in their financial security and reap the benefits of a financially healthy workforce. They’ve helped hundreds of thousands of employees change their lives. The original post is located here: https://www.financialfinesse.com/2017/10/09/how-to-know-if-you-are-ready-to-buy-investment-property/ Visit Me Online at OLDPodcast.com Learn more about your ad choices. Visit megaphone.fm/adchoices

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0:00.0	This is optimal finance daily.
0:02.4	Episode 1213, how to know if you are ready to buy investment property,
0:07.3	by Bruce Young with FinancialFinesse.com.
0:11.2	And I am Dan, I'm your host and narrator of the show here at optimal finance daily and welcome to another Sunday edition.
0:18.0	I thank you so much for listening every single day including weekends.
0:22.0	And hey it is Sunday so let's keep this intro nice
0:24.6	and short for you and get right to our post as we start optimizing your life.
0:30.3	How to know if you are ready to buy investment property by Bruce Young with Financial
0:38.0	Finess.com How do I decide if I'm ready to get into real estate investing?
0:44.0	I get this question all the time over the financial help line and in one-on-ones with the employees we work with.
0:50.0	I also hear it regularly from friends who want to know my perspective on this as a financial planner.
0:55.4	What's interesting about this question is that the answer, surprisingly, has very little to do with the real estate market,
1:01.4	and that's why so many people make bad decisions in this
1:04.2	area. They base their decisions on what they think the real estate market is
1:08.2	going to do when instead they should be looking at their own financial
1:12.0	situation to make a decision like this.
1:14.7	The answer has very little to do with a real estate market.
1:18.2	You are a good candidate for investment property if you meet all or most of the following.
1:23.0	1. You have a very stable job and significant cash cushion.
1:28.0	Ideally, that would be 1 year plus of your living expenses in a liquid account that you can tap into immediately with no or very minimal penalty.
1:36.0	In other words, it's not in a retirement account.
1:39.0	Two, you have excellent credit, generally 750 or above.
	...

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