Sofia has built a $400 million real estate empire and now wants to help others build generational wealth doing the same.
Once the cash starts to come in, resist the urge to spend it right away. “The key to turning this real estate venture into an empire is tospend the cash that’s earned from the first investment,” urged Sofia. Instead, she says to take this cash and invest it into other multi-family units, which can be thought of as the second rung on the real estate empire ladder. This is how the empire begins to build — the cash from each initial investment leads the way for bigger investments.
“By investing into a multi-unit asset, if one tenant moves out, you still have others contributing to the overall expenses. This is one of the biggest advantages which multi-family has over single-family investments,” shares Castro. Castro chose to outsource management once she moved up to investing in larger assets, and notes that it’s not required to be at the property every day.
“I’ve found that as a mother, I have more time to spend with my children and grandchildren because I outsourced management for the units,” Castro notes. “That’s why real estate investing is such a great opportunity for anyone who is busy or wants to pursue other ventures. Just invest some time and money upfront and see an ROI in both cash and more time to spend on whatever you please — which could include expanding your real estate portfolio,” she advised.
Having an understanding of what real estate investing entails and how getting in on the ‘ground floor’ is the best way to get started can be the push that aspiring female founders or investors need. Castro is forging the path ahead for breaking into the industry more easily and taking advantage of the freedom that this type of investing provides.
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Why robocalls are still a thing -- and why there's hope they'll endAlthough the number of robocalls received in the US dipped in the early months of the pandemic, the numbers have started to tick back up, as coronavirus-related restrictions are eased and call centers around the world re-open.
Weiterlesen »
Why the Coronavirus is More Likely to 'Superspread' Than the FluFor a spiky sphere just 120 nanometers wide, the coronavirus can be a remarkably cosmopolitan traveler.Spewed from the nose or mouth, it can rocket across a room and splatter onto surfaces; it can waft into poorly ventilated spaces and linger in the air for hours. At its most intrepid, the virus can
Weiterlesen »
'Leaving us behind': High-risk students ask, why can't all college courses be offered online?Thousands of students with weakened immune systems fear they're being left behind at colleges that resume in-person classes without online options.
Weiterlesen »
Why people are split on using 'Latinx''Latinx' has emerged as an inclusive term to refer to people of Latin American descent. But a new survey found that even among the people 'Latinx' is intended to describe, few have heard of the term -- let alone use it. It's an example of just how complex identity can be for any population.
Weiterlesen »
Why Do the Last Votes Counted Skew Democratic?The “blue shift” is subtle enough that it only manifests itself in highly competitive elections. But what explains the phenomenon? ed_kilgore writes
Weiterlesen »
Why You Should You Be Making Your Own SoapWith a few key tools and pieces of knowledge, soapmaking is no harder than most of the ambitious cooking projects we take on.
Weiterlesen »