Why are you not investing in yourself first?

Everyone wants to succeed when they make the decision to become an investor, but many squander too much valuable time in the forums getting thousands of different opinions on thousands of different topics.

"I want to flip some houses to make money." Then its "I want to wholesale properties to make money." Followed by "I want to buy a duplex so I can make money" and the cycle goes on and on and on based on whatever advice is being stumbled upon that week.

The end result is usually wasted time, no action, and no results.

How will it feel when you have told your family and friends of your big plans and then you get no results? How will it feel to have them tell you "I told you so"

It doesn't have to be this way

Make your first investment an investment in yourself, and your future, and make money at the same time.

It will not be fast, it will not be sexy, but you will have something to show even if you waste the next five years doing nothing! Which most people end up doing anyway.

This secret investment in yourself that I am speaking of is buying your own primary residence right now while interest rates are low. Let me give you 3 reasons you should invest in your own home right now if you do not already have one.

1. It's just plain easy

Millions of people across the United States are buying homes every day. They know nothing of investing or real estate, and most of the time the real estate agent they are working with doesn't know anything either! but guess what...after you have wasted 5 years in the forums trying to be a wholesaler they will be sitting on a huge chunk of equity, and you will have nothing but a monthly rent payment due.  Check out my BP blog post on how to find an investor-friendly agent by clicking here.

2. The money is cheap

Interest rates for a home are still at historic lows, but they are trending upward! Each week you waste driving around neighborhoods looking for a flip opportunity is costing you thousands of dollars in interest, and your buying power is going down Check out the photo below for an explanation of the cost of waiting to buy a home.

3. You don't need a huge down payment.

You do not have to save for years. Get with an experienced lender who can advise you on your local options relating to down payment assistance, lender credits, and other programs that will put money in your pocket for the purchase of your home. You don't know what you don't know! Do not be afraid to ask.

4. You do not need a 700+ credit score

I know lenders that go down to a 500 credit score. At this point, there is no excuse on why you do not have your own home.

To wrap this up I just want to say there is a time to be a wholesaler, to be a flipper, to be the multifamily guy...but if you do not own your own home it's not your time yet. The knowledge and experience will come with time, but you want to make sure that you have something to show for your efforts so at the very least you will have some built up equity in a home of your own just in case you are never the wholesaler, never the flipper, never the multi-family guy. Trust me doing nothing, and getting nothing happens more than the BP rainbows and riches fairy tells you about. 

Hope you enjoyed this read let me know what you think in the comments