Rookie from Lansing, Michigan

[Shantana Goerge]

I'm finally joining the forum, after listening to the podcast for months :-)

I've flirted with the idea of investing in real estate for years now, but was never sure how to integrate it with how strongly I feel about remaining debt-free. I'm still exploring how investing in real estate will mesh with those values.  But for right now, I'm still in the research and learn stage. I have a goal of purchasing my first rental property within 3 years, and that I invest in at least 10 total by 2028. 

I am an insurance agent in the Lansing area. I love my job and don't want to leave my career. However, I have some personal goals around income, travel and freedom that real estate investment can help me achieve.

I'm here to learn - bonus if you're from the Lansing area and want to network or meetup in person!

[Gabe Lopez]

Hi @Shantana Goerge,

What @Josh Nix said is right on.  I'm on the same path he is on and my wife recently quit her job to be a stay at home mom.  We couldn't have done that without the income from our rental properties.  

There is a very big difference between traditional debt (credit card debt, car loans, boat loans, etc.) and investing in real estate.  When you're done paying off traditional debt, you have less money than you started with and an asset worth less than what you paid for it.

With a rental property, the property will pay its debt off for you, give you a monthly income, and increase in value.  Another way to look at debt on a rental property is its kind of like profit sharing with the bank.  They are basically partnering with you to invest in the property and in return you share some of your profits with them.

I'm here in Lansing & happy to help in any way I can.  If you'd like to follow along with me on the next property I purchase and see how a real world example plays out, just let me know!