If you want to become a millionaire, then the best thing you can do is to invest in real estate. But finding the right investment opportunities can make the difference between a regular investor and a Real Estate mogul. That’s why we created a list with some of the best tips you can use if you want to invest in Real Estate and reap the benefits fast and easy.

Buy a property, then repair and sell it for a profit

This is one of the best Real Estate investment ideas, and the best thing about it is that just about any time you do this, you can earn a profit. But there are some things to keep in mind. It doesn’t matter how badly damaged the property is, your focus has to be on the overall location. You need to acquire a property in a very sought after location. Then once you repair that house, you’ll end up reaping the benefits, and you can resell it for a profit.

If you go with such an approach, you need to work with contractors who you can trust and who are super reliable. Otherwise, there will likely be problems, which will cut into both profit and timescale.

Use online real estate investment platforms

Most of the Real Estate investment methods listed in this article require you to have tens of thousands of dollars. But in this case, you can invest with $100, $500 or anything like that. Yes, the returns are not as high when compared to other investment methods. But - it’s one of the few ways for a newcomer to start investing in real estate with limit amount of money.

You do need to take your time and find properties to repair and re-sell. In this case, you just invest a minimal amount online and then you go from there. Yes, you need a larger investment for a good ROI, but it doesn’t matter that much in the end. Your focus has to be on investing even a small amount, then you can use your profits for even more investments. And since you can invest slowly without any limits, you will have no problem getting an astounding ROI at the end of the day.

The main reason that online real estate investment works is because it delivers the value you want quickly and it offers some rewarding results. Above all, you can start investing even if you don’t have a lot of money.


When investing in residential real estate is property it is usually single family homes, condos, town homes, or multi-family up to four units. These are the places that you, your family and friends live and sleep. The place most people call home. Anything above 4 units is considered commercial property and will require commercial loans when purchasing. Which is usually why the platforms are divided into those for residential investing and those for commercial investing. For residential real estate investing there are platforms like Roofstock, where you can find homes to purchase and rent out.


For commercial real estate investments, look at platforms like Fundrise. This is where you will find all the other types of properties to invest in. You will find retail, office, apartments buildings, warehouses and even mobile home parks.

Invest in a rental property

Rental properties are great because you buy the property, fix it up a bit and then rent it to other people. You still own the property, so the capital is yours, but this way, you even get to acquire income from it as well. And the best part is that you can sell the property if you want. It’s a really impressive and helpful system, one that will work very well and which you can adapt and adjust all the time at your own pace.

Alternatively, you can rent only a single room. That might be a bit harder when it comes to paperwork, but you can live there as well and the overall costs will be lower. It’s the best of both worlds for a lot of people, for others it might be a bit risky. The trick here is that you want full-property, long term rentals in order to maximize your profits. You can’t become a real estate mogul without using strategy. But once you do it adequately, it will work very well.

Purchase a property, then wait a while until you sell it

Most of the time real estate property prices will go up, so waiting a bit until the price goes up and re-selling the property makes a lot of sense. The challenge here is that property prices can go down too, so knowing the market trends is crucial if you want to use this approach. It’s a much better idea to also rent during this time because you get a steady source of income and you can still stop renting and eventually sell the property when the market prices are back up. The idea is not to rush and sell the property just because there’s an option to do that. Understanding market trends and acting based upon market knowledge is crucial to your success here.

Which is the best real estate investment option?

That all comes down to you and what approach you like the most. Purchasing homes and then fixing them up to sell for a profit is very popular. But you have to register as a business and that can lead to lots of taxes. If you want to avoid stuff like that, then opting for the buy then rent approach works. You will still own the property, and you can earn monthly income via renting that home. It makes sense, it gives you an astounding ROI and the results can be good if you do this right.

In conclusion

Finally, You shouldn’t rush with real estate investments, study every detail to ensure that you’re picking the right option. If you’re a newcomer or you want to invest very low amounts, online real estate investment platforms are very good option for you. They will help you earn a good income without having to worry about major risks. And you can always withdraw your investment if you want to, which might bring in a great ROI in the end. Hence, if you want to become a millionaire, real estate investments offer you one of the best ways to fulfill your dreams. But you’ll need to make smart investments, so you have to understand the risks if you go down that path!

Becoming wealthy is all about your personal finances. Making sure your personal finances are in shape can mean the difference between living pay check to pay check and sipping margaritas on your private beach. The formula to become wealthy is a simple mathematical equation, Income minus Expenses. Earn more than you spend. It works every time. Guaranteed. How fast you start rolling in the dough depends on how big the difference is between your income and expenses. There are two ways to make the formula work quicker for you. Number one: increase your income, which is covered in some of my other posts. Or two: decrease your expenses. One of the biggest expenses most people have is the amount of interest they pay each month to their credit cards and loans.

Simple plan

There are various simple plans. Most of them boil down to paying more than the minimum payment due each month. Here is a list of several ways, use one or use them all. The first step for all of these is STOP using your credit cards.

  1. After you have paid all your bills for the month, send what is left toward one of your debts.
  2. If you get a Tax Refund: instead of spending that Tax Refund on new clothes or a set of golf clubs, spend it on your future. Your future rich self. Use the entire amount to pay off that credit card (or two).
  3. Your Bonus: As above.
  4. Ever notice how that extra money from a pay raise disappears? Use the extra amount you get in your paycheck to pay off a credit card and you will notice that balance starting to disappear.

Debt Snowball

The simple way (above) is just that - simple, you will pay down your debts eventually but will likely be slow and you probably won't stick to it when your bonus or tax refund arrives. You'll say “I'll just spend part of it then the rest to my credit card”. The problem is human nature: in your mind, you will have spent your tax refund three times over. You get a $1,000 refund, but you've already purchased $3,000 of stuff in your head. However, there is an answer. Actually, there are two. The debt snowball and the debt avalanche.

Debt snowball steps

  1. Stop using your credit card(s).
  2. Create a budget and determine how much you have left over to pay down your debt.
  3. Pay the minimum payment on all your cards except the one with the lowest balance.
  4. Now, take the amount left over from your budget and ADD it to the minimum payment for that card. So if the payment is $25 and you have an extra $25 in your budget, then you would pay $50 to that credit card.
  5. When you have paid off that card add the $50 to the minimum payment of the next card, the one with the smallest balance now.
  6. Wash, rinse, repeat.
  7. To turbocharge your debt reduction, use the Simple Ways listed above too. If you get a bonus, pay off that debt quicker.

Debt Avalanche

The Debt Avalanche is the same as the debt snowball except for this time you pay off the credit card with the highest interest rate first. This is the most efficient way to pay down your debt. You pay the least amount of interest this way, but you may not get the early wins like you do when you pay off a credit card in the debt snowball method. This is the method I used because I'm a geek and hated to pay more interest than I had too.

Debt Avalanche steps

  1. Stop using your credit card(s).
  2. Create a budget and determine how much you have left over to pay down your debt.
  3. Pay the minimum payment on all your cards apart from the one with the highest interest rate.
  4. Now, take the amount left over from your budget and ADD it to the minimum payment. So if the payment is $25 and you have $25 in your budget, then you would pay $50 to that credit card.
  5. When you have paid off that card add the $50 to the minimum payment of the next card, the one that has the highest interest rate now.
  6. Wash, rinse, repeat.
  7. To turbocharge your debt reduction, use the Simple Ways listed above too. If you get a bonus, pay off that debt quicker.



Name Balance Interest Rate Payment
Car Loan $20,000 5% $350
Credit Card 1 $1,000 9% $50
Credit Card 2 $4,000 18% $125

Payment Order

Debt Snowball Debt Avalanche
Credit Card 1 Credit Card 2
Credit Card 2 Credit Card 1
Car Loan Car Loan

Using our example debts and $100 extra to pay each month.

Debt Snowball

Debt Avalanche

We would pay $150 ($50 min payment + $100 extra) each month to Credit Card 1 (smallest amount to pay off). When Credit Card 1 is paid off we would take the $150 we have been paying and add it to the minimum payment for our next smallest debt, Credit Card 2. So now we have $275 a month to pay down credit card 2. Once Credit Card 2 is paid off we add the $275 to our last debt, the Car Loan. We are now paying $625 per month on our Car Loan.

We would pay $225 ($125 min payment + $100 extra) each month to Credit Card 2 (highest interest rate). When Credit Card 2 is paid off we take the $225 we have been paying and add it to the minimum payment for our next debt, Credit Card 1. So now we have $275 a month to pay down Credit Card 1. Once Credit Card 1 is paid off we add the $275 to our last debt, the Car Loan. We are now paying $625 per month on our Car Loan.

Download our free Debt Snowball/Avalanche spreadsheet.


It's amazing to watch your debts decrease so fast. I used the Debt Avalanche personally when I was paying off my debts. I can tell you that it works and after you have cleared down a couple of your debts it starts working quickly. You and enter your debts, extra payments, and select which method you want to use. It will calculate the amount to pay on each debt and show you when each debt is paid off. I hope it comes in handy.

I know how scary it can be to be deep in debt and wondering if you can ever escape. I'm here to tell you that you can because I did it myself. I've gone from living pay check to pay check, hundreds of thousands of dollars in debt, to having cash in the bank, stocks, no debt and able to stop working for 6 months for a mini-retirement. If I can do it, then you can too.

Becoming wealthy is all about your personal finances

Making sure that your personal finances are in shape can mean the difference between living pay check to pay check or sipping margaritas on your private beach. Most people just dream about being wealthy. They spend their time trying to find a shortcut to riches or win the lottery. They live in hope that a long-lost uncle somewhere will leave them millions in his will. The truth is that becoming wealthy is hard work - but it's worth it. It's about making tough choices and having the perseverance to see them through. And funnily enough, the journey is actually part of the reward; the satisfaction of seeing all your work grow into something amazing. Whether it's traveling around the world, providing for your family, or helping those less fortunate, you will be the one that did it, you will be the one that made it happen. Do you want that? Well then, jump in and take action.

1. Create a financial plan

A financial plan is simply a list of short and long-term goals.  It doesn't have to be complicated or hard - it’s not a budget. Writing down goals helps to make them a reality. It holds us accountable and makes them tangible. If your goals are just in your head, then they aren’t actually goals - they are dreams. In order to achieve them, we need to make them real. Think about what you want, your first home, a huge retirement nest egg, to eliminate your debt, or that trip to France you've always wanted to take. Think of some 6 months, 1, 2, 5 and 10-year goals then write them on the Financial Goal Worksheet, or type them up on the computer, hell, write them down on a napkin, just do it. Don't limit yourself here. Include some really big goals. Just make sure you have achievable goals as well or you’ll get frustrated and give up. You need to look at these every day, tape a copy on the bathroom mirror, leave one on your keyboard when you leave for the evening, so it's the first thing you see when you get in the office. Need a coffee first thing in the morning? Well, stick a copy there too. Normalize those goals, if you can do that, they’ll become so much more achievable.

2. Calculate your net worth

Before anyone can get where they want to go, they need to know where they are starting from, where they are NOW. That figure is your net worth. Your net worth is calculated by deducting your liabilities from your assets. If you have more assets than liabilities you have a positive net worth, otherwise you have a negative net worth. Not good. To calculate your net worth, you will need to gather up your financial documents, bank statements, investment accounts, mortgage statements, credit card bills, loan documents, house and vehicle values, etc. Try to include everything; home furnishings, clothes, and don't forget the kitchen sink. This list of everything will also help you prepare for the next step; protecting your family and yourself. Put every bit of information you can find into your trusty spreadsheet and have it add up your assets and liabilities then subtract the liabilities from the assets. Did you get a positive number? I've included some worksheets on this site to help you calculate your net worth. However, if you are like me and have a lot of places you have stashed your money and have more pressing things to do then add and subtract numbers all day long, then you should try Personal Capital. I use it to keep track of my net worth, it's quick and it tracks accounts automatically using their website or app.

3. Create a spending plan

Now that we know where we are and where we want to go it's time to figure out how to get there. We need a spending plan to help guide our way. I know what you’re thinking “NO, I hate budgets!”. It's a spending plan, not a budget, so there's nothing here to fear. Look - this is as easy as figuring out your net worth - plus you should have almost all the information you need. So now, instead of writing down your assets, write down your income and instead of liabilities write down your expenses. Subtract your expenses from your income and you have your cash flow. Just like your net worth you want this to be a positive number. If it's not, keep reading - there are some things we can do to change that. As part of your spending plan, there are three important things you can do, have an emergency fund, reduce your debt, and reduce your expenses.

"I found the road to wealth when I decided that a part of all I earned was mine to keep. And so will you."

George S. Clason, Author of The Richest Man in Babylon

Emergency fund

Life can sometimes be hard and it’s certainly full of risks. One of the biggest risks to a secure financial future is bankruptcy. It is very stressful and will keep you up at night. I've been there, done that. Those were some dark days. When times are hard having money in the bank can give you the time you need for you to get back on your feet. The typical amount of cash quoted as an optimal buffer is three to six months of expenses saved. That is great for when times are good and unemployment is low. But, to be as safe as possible, you really need 12 months of expenses up your sleeve. That amount will give you enough time to recover, even when the economy is troubled. I know some of you are freaking out right about now saying “There's no way I can save 12 months of expenses, I have to eat!”. Yes, 12 months is probably a lot of money that you don't have all saved right now, but the sooner you start the better off you will be. Start with as much as you can even if it's only $25 a month. Trust me I've been on both sides of this coin and the difference is amazing, you'll wish you had done it sooner.  A key indicator of someone's financial health is their amount of savings. [box] In a recent survey by Google, only 29% of American had $1,000 or more in savings.  If you have $5,000 or more in savings, then you are better off than 80% of the population[/box]

Reduce your debt

Debt can be a useful tool when used correctly, it can provide you with shelter or fund a new business. Used poorly it can drag you under. As we have learned from the previous section, debt lowers our net worth as well as our cash flow. If Cash is King then Cash Flow is Queen. Paying down debt and reducing your monthly payments makes your financial runway longer, giving you time to succeed. Once you have established your emergency fund it is time to reduce your debt and increase your cash flow. Credit card debt is notoriously sneaky. Minimum payments are typically 1% to 3% of the monthly balance, which means as you pay off your debt your monthly payment also decreases until you hit the banks minimum payment, $5 to $25. If you just pay the minimum payment each month, a $5,000 balance with a 2% repayment means you will be paying for 11 years, as long as you don't add any new charges to that card. You need to read your credit card statements every month.  For several years credit card companies have been required to tell you how long it will take to repay your debt and how much you will pay based on the minimum payments.  Here is a copy of that information from when I purchased a new laptop.  As you can see, if I had only made the minimum payments a $2,667 laptop would have taken me 17 years to repay and ended up costing $7,427! Payment Information Now how do we get out of this vicious cycle? There are various ways, you can read more ways in my Debt Repayment post, but here is a simple way, the Snow Avalanche:

  1. Stop using your credit card(s).
  2. Pay the minimum payment on all your cards but the one with the highest interest rate.
  3. Now, take the amount you’ve been using to save for our emergency fund and ADD it to the minimum payment. So if the payment is $25 and we have been saving $25, then you would pay $50 to that credit card.
  4. When you have paid off that card add the $50 to the minimum payment of the next card.
  5. Wash, rinse, repeat.

Reduce your expenses

Just like a business, we have a burn rate too. By lowering our expenses we can reduce our personal burn rate, which means we can build our emergency fund or reduce our debt quicker. If you have done both of those already it means you have more money to invest and build your wealth quicker. It also reduces stress and helps you sleep at night, and we could all use more sleep. I won't preach to you about the Latte Effect, but it is one of the simplest ways to give yourself a pay raise. You don't even need to convince the boss you are worth it, because you already know. Just like reducing your debt, reducing your expenses increases your cash flow. Be frugal my friend.

4. Protect you and your family

The last thing you want to do after you have worked so hard to build your wealth is to lose it all. You need to protect yourself and your loved ones. You will need several different legal documents. A Will to make sure your wishes are carried out and not what the government decides is best for your estate. A durable power of attorney, so someone can manage your affairs when you are not available for whatever reason. A Living Will and a health-care power of attorney are also important, so someone can make medical decisions when you aren’t able to make them for yourself. You will also need various types of insurance, Medical, Liability, Umbrella, long-term disability. Doing these four simple steps will get your personal finances in order. Getting your personal finances in order will grow your wealth, and not just monetary wealth but your mental and physical wealth as well.

Growing up financially
© Copyright 2019 - GrowingUpFinancially - All Rights Reserved
Growing up financially content is for educational purposes only and should not be used for investing real money. Growingupfinancially.com is not an investment adviser, brokerage firm, or investment company. Christopher Graham and growingupfinancially.com are not professional money managers, accountants, or financial advisors. Any investment involves the taking of substantial risks, including but not limited to, complete loss of capital. Every investor has different strategies, risk tolerances, and time frames. Contact a professional certified financial advisor before making any financial decisions.
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