Rakesh Mirchandani: Property can be the answer to finding true financial freedom
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We all enter real estate for different reasons, and there’s a reason why you’ve stumbled upon this blog today. Most investors we deal with enjoy the relatively passive income stream that real estate can bring, but there is a bigger picture here too. Real estate isn’t just a job to us, it’s become a life obsession and something that consumes hours and hours of our week. Maybe you don’t understand that, but we know some of you will, and will want to explore more. That’s probably why you’re here.
Here are four reasons why we believe real estate can bring true financial freedom…
1. Rental income
You might start with one or two properties but eventually have a portfolio that can literally be your main income. Real estate often starts as a hobby or a supplementary income, but if done right, it can definitely become a main income stream. Is there a better income and job in the world than real estate? You can literally earn money in your sleep if you put the work in to begin with.
2. Generational wealth
Do you want to leave something behind for your children? I’m sure you do. What better gift to leave them with than a property? They can enjoy its growth and appreciation and it will give them future options when they mature too. Property is such a safe investment compared to bonds and other schemes, not that we are against those. And in Dubai real estate, you rarely lose!
3. Flexible earnings
Are you sick of your 9-5 job and being told what to do by your boss all day or having to ask when you can take time off for a vacation? The beautiful flexibility that rental income can bring to your life is that you remain in control, and if you grow your property portfolio, you will gain even more flexibility. Of course you have potential calls from tenants (you can use a management company if you want none of this) but generally speaking, the pressure is far less than working a normal job.
4. Sense of fulfilment
Whilst we are focused on income and return like any businessman would be, we also get a great sense of fulfilment out of real estate. By sourcing and selling homes, you make people’s dreams come true and you see families and individuals light up when you play a part in their move. There will always be a need for real estate – 140,000 people are born every day and we have recently topped eight billion people on the planet, so I don’t think the need for housing is going to run out anytime soon. Enjoy the journey!