(WTNH) — When it comes to investing your money, where are you putting your hard-earned cash? A new survey reveals real estate- not stocks- tops the list when it comes to long term investments. We are stretching your dollar with the top reasons experts say they invest in property.
Hollywood has glamorized making fast money on stocks, but they’re no longer America’s favorite long-term investment. A new BankRate survey finds real estate is king, and real estate experts are not surprised.
“It’s not sexy like some of these cryptocurrencies might be or when the stock market has a big run. But that’s also why I love it. It is much more predictable than other asset classes and you make money in several different ways,” David Greene, Real Estate Expert, Bigger Pockets Podcast Co-host.
Stocks ranked a distant second in the survey. Cash investments, like a savings account, finished third followed by gold and precious metals.
Bitcoin and cryptocurrencies ranked the lowest. If you’re thinking about investing in property, experts say take advantage of historically low interest rates and buy a rental property, as well as get tenants to pay off your mortgage.
“The easiest way that you can ever become a millionaire is take out a million-dollars in real estate debt and let someone else pay it off for you,” David Greene.
Experts also say real estate is a hedge against inflation. As the house goes up in value, rents also climb, but your mortgage payment stays the same.
“That creates a difference between how much you’re paying versus how much you’re earning and the bigger the difference that you get the more money that you’re able to make.”
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