For millions of Americans, their home is the biggest source of wealth. Yet, for many, they don't enjoy their home. Here's a new approach that cultivates wealth at home.
What Many Wealthy Families Do To Have the Home They Always Wanted
- Could you have this in common with Mark Zuckerberg when it comes to your home?
- What if you could have the privacy, security, and extras you desire anywhere?
- How to turn a liability into an asset starting where you sleep at night?
[Listen on YouTube, Your Home Paradise Wealth Strategy, About Real Estate Investing ]
Why Did This Rich Family Live in An Ordinary Home When They Could Afford One Overlooking a Golf Course?
When I first learned about this wealth strategy, I thought it was unusual. It was a party; the host is a well-known owner of a ten-million-dollar plus business. He was a top earner leading a wealthy family.
Yet his home was humble, overlooking a pond, not a lake, with a large yard in a modest neighborhood. Everything about the place was for entertaining, a casual and social environment. Nothing fancy about this home.
What was most interesting is the owner's attitude towards the modest place. He could afford a larger square foot home with more amenities. Yet the home was simple and out of date.
The 1970's kitchen with modern appliances, a small dining area with an oversized deck, all in an older neighborhood. Lovely gardens, neat landscaping, but not an ounce that would stand out as an unusually middle class.
Another party-goer asks, “When will you move closer to the club?” The homes around his country club started at $820,000, where this house was all in at $200,000 easy. Near the club, you overlook a nicely cut golf course and nearby lake.
His response was unusual. “You know how much I travel; if the house were any bigger, I wouldn't enjoy it as much.” What the guest didn't know is that he owns several homes on the same street, has a part-time caretaker, and he was only a resident during “season.”
Why Not A Modest Home Sweet Home That Affords You Freedom?
A sitter could stay in this small home while his family travels to exotic locations or doesn't attract any attention when on business travel. The same handyman and landscaper care for his house and the rental.
Sure, his kids were enrolled in a private school. His neighbors were quiet. It was only a 15-minute drive to the club for golf, dining, and plenty of access to other interests. No mortgage, real estate income, and tax benefits make this home pay for itself.
You can get more from your home for less or even grow your wealth through your home when you manage it the right way. Whether for real estate investing or to expand your privacy, this episode has keys to a home paradise now.
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A business analyst and publisher. Had $250,000 in his retirement by age 25 while losing it all in the dot.com bubble. Invested more than $575,000 in the expense of experience that showed him what works for increasing net worth. Discovered value of actually listening to mentors.