How To Use Real Estate To Create The Generational Wealth Your Family Deserves: Simpler & Faster!
The Perfect Legacy Blueprint
The best selling book of all time tells us that we should create enough wealth for our children and our children’s children…
A good man leaveth an inheritance to his children’s children: And the wealth of the sinner is laid up for the just. Proverbs 13:22 KJV
Consequently, as head of households, we owe it to our families to commit to making generational wealth a part of our legacy.
The Perfect Family Blueprint
Contrary to popular belief, the best way to create generational wealth with real estate is to collaborate with family and/or friends.
There are 3 irrefutable benefits to this acquisition methodology:
Less risk: together we’re afforded the opportunity to spread the risk amongst each other so each individual has more staying power
More capacity: together we can tackle much bigger projects than we could individually
More volume: together we can acquire a larger volume of properties than we could ever imagine to on our own
The Rental Property Mastery (RPM) Partnership System is the ultimate collaborative real estate investing method to create the generational wealth your family deserves.
First, let us agree upon what generational wealth will look like when we succeed…
The Four Seasons of Wealth:
Survival:
Basic Living Expenses (BLE) > Passive Income (PI)Example: Your basic living expenses are $4,000/mo and your passive income is $500/mo (for most it is $0)
Stability:
Basic Living Expenses = Passive IncomeExample: Your basic living expenses are $4,000/mo and your passive income is $4,000/mo
Success:
Basic Living Expenses + Lifestyle Expenses = Passive IncomeExample: Your basic living expenses AND your lifestyle expenses are $8,000/mo and your passive income is $8,000/mo
Significance:
Basic Living Expenses + Lifestyle Expenses + Legacy Expenses = Passive IncomeExample: Your basic living expenses AND your lifestyle expenses AND your legacy expenses are $12,000/mo and your passive income is $12,000/mo
🏃♀️Survival is “The Rat Race” (winter)
⚖️Stability is TIER 1 “Real” Financial Freedom (fall)
🏆Success is TIER 2 “Real” Financial Freedom (spring)
👑Significance is TIER 3 “Real” Financial Freedom (summer)
For Our Purposes, Generational Wealth Starts with Tier 1 “Real” Financial Freedom!
Imagine leaving your children, out the gate, with income producing assets that produce enough passive income to pay ALL of their basic living expenses AND you taught them how to expand on it.
That’s the power of collaborative real estate investing!
Family Case Study:
Tommy is married with four children ages fifteen, twenty one, thirty three, and thirty five. Health issues ruined Tommy and his families finances forcing them to rebuild. Tommy had his health returned to him but was left with very little savings, a small retirement account, and a mountain of debt.
As time passed Tommy began to think, at this later stage in his life, it was too late get back on track financially. Guilt and shame were the norm for Tommy until he stumbled upon the RPM Partnership System.
He partnered with a real estate collaborator to execute his plan to achieve tier 1 “real” financial freedom in 5 years. Along the way he planned to become a full time real estate collaborator himself and expand to tier 2 and beyond.
Step One: Positioning
Tommy liquidated his retirement account (at age 59) to utilize the $85,000 for seed capital to acquire income producing real estate assets. Fortunately, there were no early distribution penalties but Tommy was prepared to pay the penalties even if there were.
Tommy built his business credit in order to gain access to $100,000 of seed capital with the intent to increase it annually.
Step Two: Implementation
Tommy is using the Leap Frog Method to acquire 4 single family homes over the next 12 months and, at the proper time, refinance or sell and transition to small apartment buildings.
Tommy’s middle son plans to live in one of the single family homes as a tenant-buyer partner to initiate his plan to achieve tier 1 “real financial freedom as well. Tommy is teaching all of his children how to develop and execute their own plan.
Step Three: Live Well & Pass On The Inheritance
When the time comes Tommy intends to pass a tier 1 inheritance to each of his children but most importantly he plans to teach them to expand on it and teach their children as well
Confidence and pride are the new norm for Tommy
NO Excuses…
No matter what your starting point is, what you have or don’t have, together we all can answer the call of Proverbs 13:22 and create generational wealth.
All it takes is one decision that you must be prepared to make over and over again!
Are you ready?
Let’s GO!
It’s Never Too Late To WIN!
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