CREATING Generational Wealth
Creating financial stability is the first step to generational wealth. In a financial world that seems so tumultuous on a day to day basis it is essential to take small steps, create a wealth plan, create the right TEAM, and then have a plan of action. Having a road map to your destination and staying on track will always create the long term success you desire.
No one will ever create or lead your wealth like YOU will. When thinking about your wealth plan, you must have a clear vision of your end result. There will be many steps as generational wealth does not happen overnight. Prepare yourself for the bends or bumps in the road…. They will happen. The more prepared, the better off you will be.
Build the right TEAM. Make no mistake; there are no “self made” millionaires. Creating substantial wealth will always be obtained by putting the right people in the right places. Your wealth team is essential. Most importantly you must lead it. You must realize that you are the leader of your wealth network, whether you want to be or not. Your job as the leader is to inspire, motivate, hold and communicate the vision to all of those on your team. "If your actions inspire others to dream more, learn more, do more and become more, you are a leader." –John Quincy Adams
Now it is time to put action in place. A plan is crucial, a team in ultimately necessary, but without action none of it matters. It is time to implement. Stay the course. You have a well thought out, researched plan. GO!!!!
We at TEAM Investments are here to help you create generational wealth. Creating is only the first step so let’s start creating!
We have a strategic plan for investing no matter who you are, or what you have. To start, you have to start with the end in mind. What is your goal? Financial freedom is different to different people. Is it a total dollar amount? Is it a set monthly income? It may even be an age… we are all different. Based on who you are, financial freedom will vary.
I once had someone ask me, “when is enough, enough?” I did not know how to answer because I had not thought of what my end goal was.
First step to investing in anything is coming up with a definitive exit strategy. What is that for you personally? Think about it, this is important. Second question is do you want to be an ACTIVE investor or a PASSIVE investor? This is a crucial question, as these investment strategies are very different.
A passive investor will lend money but does not actively contribute to the management or project itself. For example, someone invests a certain dollar amount into a project to flip homes. They do not take part in the decision of what to buy, the rehab that may be involved, or the selling of the home. However for their monetary contribution they will make a portion of the profits.
An active investor will want to be physically involved. They may want to help choose which properties to purchase, or even help with the rehab. Being an active investor will require work on your part. IF, you have knowledge in the area you want to invest in, then you may be able to negotiate a larger spread on your dollars earned. However, if you are not knowledgeable you may do more harm than good.
This brings us back to TEAM. Having a well educated TEAM will enhance your investing experience. Do your due diligence on how to invest and more importantly who to invest with.
We believe having a balanced portfolio is one of the keys to financial success. There is a place for real estate in everyone’s financial freedom plan. Let TEAM Investments help you design a path for your successful real estate investment plan.
Once you have created a plan and have it in action, it is time to protect. We live in a litigious society and protecting what we make is as essential as making it.
- Make educated decisions which limit the risk.
- Are educated and strategic in the marketplace.
- Understand specific investments and tend to specialize in areas where they will
be most successful
- Understand how to read and calculate numbers and analyze an investment opportunity
- Have Money Rules and follow them.
Another key aspect of protecting your investments is structuring your company properly. This will entail the creation of entities that will PROTECT your assets. Creating entities will give both a vehicle for better tax structure and protection. You should refer to a good attorney to help you structure your entities properly and a good accountant to help you choose the best tax structure. We have assimilated an award winning TEAM and are more than willing to refer experts to you!
Protecting your financial stability will take effort and structure from your TEAM members. However, it is imperative to complete the generational wealth plan.
Tanya Marchiol showing how she got started in the Real Estate Industry...
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