Have you made a lifelong pledge to be with your mortgage until you’re old and gray?

Life doesn’t have to be that way.

If you have a 15-year or 30-year mortgage, you can create a plan to end your relationship sooner and be mortgage-free. Woohoo!

Article first featured on blackdoctor.org.

Oh yeah, you can also profit from real estate so you can pay off your mortgage faster. If you are considering a real estate license, here are some resources for you:

• eBook: How to Pass the Real Estate Exam in Less Than 30 Days
• Real Estate Express Pre-Licensing Course – Use Link for Discount! – Current Promo Code: NYNC35
• Wake Up: Your Home May Not Be an Asset

Are you ready to get started?

Creating additional streams of income will help you pay your mortgage faster. One income stream that does not require you to get another job is investing in dividend stocks. Grab my latest book on Amazon, Dividends Are a Queen’s Best Friend, if you want to learn how to generate an extra stream of income from your investments. As an Amazon Affiliate, I may receive compensation if you click on the product link.

Here are 3 ways to pay off your mortgage faster and get on track to live a life of financial freedom.

1. Pay Your Mortgage Every 2 Weeks

I know this may sound like a bit much but let me explain.

You can make more payments towards your mortgage every month without getting a raise at work or pinching pennies to decrease expenses.

All you have to do is make bi-weekly payments instead of making one payment per month.

Here’s how it works.

Let’s say your mortgage is $2000 a month. You can pay $100 every 2 weeks. This will allow you to make 26 bi-weekly payments throughout the year because you are making payments every 2 weeks and there are 52 weeks in a year. Well, if you make 26 bi-weekly payments, that equates to 13 full payments every year instead of the typical 12 payments a year.

Now, you’ve just slashed some years off your mortgage pay-off date and saved thousands in interest costs. Check with your financial coach (me!) to determine how this works and how you can get started.

2. Apply Bonuses to Your Mortgage Balance

Any unexpected or large sum payment you receive throughout the year can be considered a bonus and can help you decrease your mortgage balance.

Got a raise? Large tax refund? Another stream of income? Use this extra money to increase your net worth!

When you send the bank extra payments towards your mortgage, you decrease your principal loan balance. When you decrease your loan balance, you increase your net worth.

3. Buy a Home that Doesn’t Put a Dent in Your Net Worth

Your net worth equals your assets minus your liabilities.

When you take on a mortgage, you increase your liabilities. Is this a good thing or a bad thing?

Well, it all depends.

Let’s say you have assets of $25,000 (Cash savings + 401K Investments). Then you purchase a home that costs $75,000. Your net worth is -$50K.

Your net worth is now in the negative. Do you have enough liquid assets to cover unexpected homeownership expenses? If not, this new home purchase can put a dent in your net worth.

Do yourself a favor and do a thorough review of your assets, liabilities, income, and expenses (or hire a financial coach) to figure out how much you can comfortably spend on a home to avoid being stuck with an extended mortgage period.

Buying a home below your means will give you a good financial cushion to be able to make extra payments throughout the year.

Are you on a journey to financial freedom? Join the Wealthy Women Daily NetWorthChallenge Facebook Group! We are giving all the secrets to increase your net worth and live your best life!

Are you working to pay off your mortgage faster? Let us know below!

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Do you want to get monthly income from real estate without worrying about tenants? You should explore the world of REITs.

REITs are real estate investment trusts are a collection of commercial real estate properties that are sold to investors in the form of equities. required to distribute 90% of their income to shareholders in the form of dividends in order to maintain their preferential status as a REIT.

REITs (real estate investment trusts) are a collection of commercial real estate properties that are packaged and sold to investors in the form of equities. Investors can shop from a selection of over 200 REITs that own and manage hotels, office buildings, residential space, warehouses, and other properties.

If you are looking for a high return, REITs will hit the spot. REITs provide some of the highest yields in the world of dividend-paying stocks.

Check out this article to find out why REITs are still in style.

How do you start investing in REITs? All you need is a brokerage account and you’re good to go! WeBull has a special offer that allows you to get free shares of stocks when you open an account and make a deposit. You don’t need hundreds of dollars to open an account. Deposit ANY amount. Keep your free share of stock or sell it so you can buy a stock that pays monthly dividends. It’s up to you! Click here to open an account and gain access to free stocks.  

Learn more about Webull here.

Here is a list of some popular REITs that pay monthly dividends:

Are you interested in a REIT dividend investing course? Contact us at hello@ceounlimitedfirm.com and let us know!

Disclaimer: Wealthy Women Daily is solely educational and informational, and is not intended to give investment or trading advice of any kind. Not all asset classes are suitable for all investors. Wealthy Women Daily is a research academy that provides you with the data and analysis you need to make an informed investment decision. It is your responsibility to talk to an expert to understand how specific investments will impact you during tax time.  Affiliate links are included in this article.

Note: Taking the real estate exam won’t help you build wealth but learning the ins and outs of how real estate works will. Speak with a real estate professional about your options so you can determine what makes sense for your portfolio.

I’m a CPA and Financial Coach so I love to wow my clients with exclusive information that will help them to live their best life.

And many of my clients are looking to invest so they can buy a home and rental property one day. Perfect! I’m on a mission to help more women build wealth so real estate obviously caught my attention as one of the oldest vehicles to build wealth. So, I thought to myself, “why not sign up for a real estate class?”

That’s exactly what I did when I woke up on the morning of October 3rd, 2018. I signed up for a real estate pre-licensing class and started my journey. Just. Like. That.

Oh yeah, if you want to get your real estate license I have some resources for you that will expedite your process:

• eBook: How to Pass the Real Estate Exam in Less Than 30 Days
• Real Estate Express Pre-Licensing Course – Use Link for Discount! – Current Promo Code: NYNC35

As soon as I enrolled in the class, my whole world became focused on Real Estate. From the images I saw on social media to the books I placed around my home, my mind was engulfed in this world that I always wanted more of.  

I knew my class alone wouldn’t make me a real estate pro so I created my own success plan. I finished my exam on October 31st and was prepared to take my exam in less than 13 hours later. On November 1st, I was notified that I passed the Illinois Real Estate exam!

And then everything happened so fast. I attended the National Association of Realtors (NAR) Conference in Boston on November 2nd, flew to San Francisco for the REITworld Conference the following week, and returned home to tons of letters from real estate firms who were ready to interview me to become a real estate broker at their firm.  

All I could say was “wow, wow, wow!” Instead of jumping in the real estate scene immediately, I made it my mission to train and tutor other individuals who were interested in taking the real estate exam. Email me at hello@ceounlimitedfirm.com if you want to sign up for an accountability partner!

Are you thinking about joining the real estate world? Here’s what worked for me and helped me to pass the exam in less than 30 days:

Make Real Estate Your Main Bae

You will get whatever you focus on. It never fails. This is law.

If you’re ready to dive into the world of real estate, immerse your full self in it. You have to be willing to go beyond the books you receive in class. Your surroundings have to set you up to win.

For example, since I couldn’t keep my eyes off Instagram, I used it to my advantage. I started following real estate professionals from all over the world to gain a source of inspiration. My Instagram feed was booming with pretty images but was also filled with words of wisdom for anyone seeking to buy or sell a home. I learned a lot from top real estate producers who were passionate about their craft. This complemented and expedited the learning curve for me.

Get an Accountability Partner

The real estate exam can be a bit intimidating if you are trying to do it alone. Find someone who wants you to win as much as you do!

I surrounded myself with individuals who passed the exam already and were willing to give me valuable tips on how to maximize my chances of success. I also had late night study sessions where my accountability partner quizzed me for hours. But I wasn’t the only one answering questions. A major part of my study plan was quizzing and educating others on the real estate materials.

Now, when I teach and tutor others real estate material, I make sure they are so good at the material that they can answer questions in their sleep.

Don’t Study Your Brains Out

Contrary to popular belief, you don’t have to study like a maniac in order to pass the real estate exam. It’s not about how much you study; it’s all about the quality of your study process. Studying every day for five hours without retaining information and understanding real-life application is useless. Don’t waste time. Do whatever it takes to maximize your time. Trust me, I’m a Certification Queen who has passed the CPA, CFE, and PMP exams all before turning 26 years old. Yeah, I have a formula that works!

So, find out what you need to know and make it your business to know it. I remember people asking me, “so how is your studying going?” I had to be honest. I wasn’t studying every day because life was still happening while I was preparing for the real estate exam. But when I did sit down and study, I didn’t play around! I trained myself to truly understand the material inside and out with my unique study methods.

My advice to you: don’t get distracted by 500 pages of information and think you need to know it all. Have a smart study plan. The exam is only the introduction to what you need to know as a Real Estate professional. Save some brain space until after you pass because this profession is all about continuing education. You have to put yourself out there to learn every single day. During the exam prep process, you want to make sure you know about the laws so you can live your dreams!  

Don’t Fear the Exam

I remember listening to some of my classmates express fears about the exam. I couldn’t help but think, “what are you afraid of? The boogie man is not out to get you! This exam will get you one step closer to unlocking a new career opportunity. Isn’t that exciting?!”

The purpose of the exam is to ensure you understand the game of real estate so you can have a foundation to get you started. So, learn what you need to know. Competence builds confidence. If you truly understand the concepts and how it all works, what do you have to be afraid of?

But if you’ve been studying and have no clue about real estate laws, be very afraid. Find a way to get over your fears by mastering topics you need to know.

Have Fun!

I can’t deny it. I really, really enjoyed the process of learning more about real estate laws. I was a bit emotional when my class ended. Yes, I was happy to be at the finish line but my mind was having the time of its life soaking up new information and using it to help my Wealthy Women Daily clients be more knowledgeable about the home buying process.

People asked me, “what do you mean you’re having fun?” Well, I love being able to share information that can transform my life and someone else’s life. When someone works with me, they’ll get a ton of useful information that will make them feel unstoppable.

Besides, if you don’t love what you are doing then why the heck are you doing it? Being a Real Estate professional is a big deal and it can be very rewarding. You’re giving people access to rebuild their lives and that should motivate you to enjoy the process.

Start Your Real Estate Journey Now!

I’m a Financial Coach and Career Strategist where I help more women get certifications so they can make more money doing what they love! Need help passing your exam? Ask me about my strategy sessions at hello@ceounlimitedfirm.com.

Are you wondering what it takes to be successful in the real estate market? Real estate is one of the oldest forms of wealth-building in the world and is responsible for creating a number of billionaires. If you want to tap into this industry and all the potential it entails, check out these three things you need to know in order to position yourself as a real estate expert.

Note: Technology, social media management, relationship building, marketing, and other skills were not mentioned in this article. These are just a few of the foundational skills you will need to differentiate yourself in the market and become a sought-after expert in the industry. And don’t forget to join professional organizations like NAR that will give you the blueprint for success!

Understand Interest Rates

Real estate is one industry that is highly sensitive to fluctuations in interest rates. Pay attention to what the Federal Reserve Bank is saying about policy on interest rates and how it impacts your position in the market. When asked what is the most dangerous trigger that can impact the housing market, NAR Chief Economist Lawrence Yun responded “interest rates”. Yun also predicts that interest rates will rise in December.

Become Best Friends with a Tax Professional

Tax reform has revamped tax laws for real estate professionals. Mortgage interest deductions, property tax deductions, and state and local tax (SALT) laws aren’t the same. If you have no idea how tax law works and how you can maximize your deductions, find a tax professional as soon as possible. A CPA or knowledgeable tax professional can walk you through the changes in tax law and help you calculate the impact these new laws will have on the amount of money you keep in your pocket. Set aside as much money as you can so you can work with a professional who can save you money. Don’t wait until year end because then you’ll be in a line with hundreds of other professionals who are in dire need of tax advice.

Subscribe to Real Estate Publications

If you want to be ahead of the game in the real estate space, make sure you know how the game is played and what’s going on every step of the way. During a panel discussion hosted by the National Association of Real Estate Editors (NAREE), experts discussed the state of real estate journalism and how it can help you stay on top of the latest industry news. What publications are you subscribed to? Are you on the list for Wealthy Women Daily? We provide female-friendly insights to make investing and shopping for assets as fun as shopping at the mall! Journalists from publications such as The Wall Street Journal, Bloomberg, and Washington Post were there to share their insights on the evolution of news media and what the industry is doing to provide timely, relevant, and valuable information to consumers.

Do you want to unlock more real estate and wealth success tips? Having a game plan for success and access to the right information will help you win in any industry.

Grab your weekly copy of Wealthy Women Weekly by signing up below! New stock tips for a recession coming soon!

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And then the feeling may have slowly faded away when you realized you were trapped with a life-long mortgage a.k.a. death pledge.

Ask yourself this: Is your home putting more money in your pockets ? If not, it may be a liability instead of an asset.

If you’re thinking about taking the real estate exam so you can become familiar with the home buying process and laws, here are some resources for you:

• eBook: How to Pass the Real Estate Exam in Less Than 30 Days
• Real Estate Express Pre-Licensing Course – Use Link for Discount! – Current Promo Code: NYNC35
• Pay Your Mortgage Off Faster and Turn Your Property Into An Asset 

Home ownership may not be as attractive as it appeared to be while you were sleeping. When you realize that a home is an asset to the bank and a liability to you, you’ll start to look at home ownership differently.

And if you understood how 30-year mortgages may be the biggest money grabber in U.S. history, you wouldn’t be so quick to add it to your American Dream vision board until you have a plan to make it work for you.

Don’t get me wrong. Owning a home is a great luxury that can provide the next generation of individuals with a better living environment than previous generations have ever had. It can break generational curses and unlock endless opportunities. But you have to first understand the marketing behind ownership and why it’s not an asset for everyone.

Mortgages Can Be a Deadly Marriage If You Don’t Understand How it Works

Don’t sign your life away until you know exactly what you are signing up for.

It’s like going into a marriage without any idea who you are marrying.

Mortgage comes from the French term “mort-gage” meaning death pledge. How morbid? That’s probably one way to describe how you feel when you’re tied down and unable to fully enjoy life because you’re constantly worried about mortgage payments.

It’s called a death pledge because you traditionally had to work until you died to have the privilege of owning a house. It can take over a quarter of your life to pay off your home if you seal the deal on a 30-year mortgage.

Securing a 30-year mortgage sounds like a great option because you get to extend your payments over a longer period of time, resulting in lower monthly payments.

The other side of a mortgage is the interest you have to pay every month. You think you have a $100,000 mortgage but your interest payments leave you with a $300,000 mortgage.

And there are consequences if you can’t commit to your monthly obligations. A divorce occurs. The bank takes your property away and you’re left with a broken heart because you thought the home would be yours “til death do us part”.

The Math Doesn’t Make Sense

Let’s calculate what you are really paying for your home. Let’s say you have a 30-year mortgage at 8%. The home is on the market for $200,000.

Amount: 200,000

Term: 30 Year

Interest: 8%

Monthly payments = $1468

Results: The interest payments inflate the real cost of a $200,000 home to more than $528,000. You may qualify for a tax write off but is the write-off worth an extra $300,000 expense? 

Don’t Get Caught in the Mortgage Debacle

If home ownership is your goal, make sure you don’t have a extremely high interest rate and that it doesn’t take you 30 years to pay your home off or else you’ll be giving away thousands of dollars in the form of interest.

Call your financial coach and mortgage lender to find out how much you would need to add to your principal payment each month to pay off your mortgage in less than 20 years. Then, ask how much you would save in reduced interest costs.

Turn Your Home Into an Asset

Your home doesn’t always have to be a liability. You have to know how to use what you have to get what you want.

Your home can make you money if you rent out space to other people. Air BnB has become very popular because homeowners have been able to rent out parts of their house for a short period of time. Renters avoid long-term commitments and get a cozy experience that makes them feel like they are at home.

Portions of your home can be used as business space. This space can help you generate more revenue by allowing you to have inventory on hand or the space to provide services from the comfort of your home.

If you’re a real estate investor, you’ll be able to put money in your pockets every month in the form of rent and turn your property into an asset. But be mindful of the impact of not having tenants for an extended period of time and the costly repairs that may come with the purchase of older, unkept properties.

Are you thinking about buying a home? Do you need help reviewing your assets? Remember, If you own your home and are bombarded with utility payments, taxes, and maintenance that doesn’t produce any money in your pocket, you have to question if the property is an asset or liability.

Leave a comment below and contact us at hello@ceounlimitedfirm.com! Subscribe to Wealthy Women Weekly to get your free weekly + investing tips!

Are you on a journey to financial freedom? Join the Wealthy Women Daily NetWorthChallenge Facebook Group! We are giving all the secrets to increase your net worth and live your best life!

Disclaimer: Wealthy Women Daily is solely educational and informational, and is not intended to give investment or trading advice of any kind. Not all asset classes are suitable for all investors. Wealthy Women Daily is a research academy that provides you with the data and analysis you need to make an informed investment decision. It is your responsibility to talk to an expert to understand how specific investments will impact you during tax time. 

Here’s your chance.

You can become a real estate investor without actually having to go out and buy commercial real estate. Another bonus: you can receive money monthly or quarterly just for being an investor.

REITs make it all possible. REITs (real estate investment trusts) are companies that have met specific requirements to own, operate, or finance a portfolio of income-producing real estate or real estate-related assets. It’s a feasible way for all investors to invest in sizable, income-producing, professionally managed companies that own commercial real estate.

How to Invest in REITS

Most U.S. REITs are registered with the Securities Exchange Commission (SEC) and are traded on major stock exchanges such as the New York Stock Exchange (NYSE) or the NASDAQ. Anyone can invest in a publicly traded REIT by purchasing shares through a broker or by investing in a mutual fund that specializes in public real estate.

Once you know which REITs you want to purchase, you can complete a transaction and add real estate to your portfolio in less than 5 minutes!

Income-Producing Real Estate Assets

Once you’re an investor, you’ll get a piece of the profits earned from these income-producing real estate assets:

• office buildings
• shopping malls
• apartments
• hotels
• resorts
• self-storage facilities
• warehouses
• mortgages or loans.

Benefits to Investors

Here are just a few of the reasons why REITs are attractive investments:

• Create a diverse portfolio of real estate investments
• Instantly buy and sell shares
• Gain access to a liquid investment
• Avoid maintenance fees
• No ongoing responsibility
• Receive profits monthly/quarterly
• Start with less than $100
• Invest in less than 5 minutes!

Start Investing with $100

Do you want to test the waters and see how it all works? You don’t need to take out a loan to get started. You can start with $100 and learn as much as you can about REITS before you start building a massive portfolio. Then you can learn how to create a $1,000 portfolio of high-performing REITs.

Do you want to learn more about REITS? Contact us to schedule a REIT strategy session and gain access to a portfolio of REITs. It’s important that investors do their research before taking action. Need research? Let us know. We’ve researched hundreds of REITs and can provide you with the data needed to make an informed decision.

Disclaimer: Wealthy Women Daily is solely education and informational, and is not intended to give investment or trading advice of any kind. Not all asset classes are suitable for all investors. Wealthy Women Daily is a research academy that provides you with the data and analysis you need to make an informed investment decision.