Learn How to Invest Money in Your 50s for Retirement
Today I’m answering your question about how to invest money in your 50s. This is not going to be difficult. It’s relatively easy.
A lot of people at 50 are starting to worry about what they’re going to do to take care of their retirement.
Everybody’s worried about financial freedom. If you want financial freedom, social security is not going to be it. You’re going to need to supplement that, so let’s figure out a way that you can make some money.
I’m going to talk about how to invest money in your 50s, but you’ll need to follow a system. If you can do that, you’re going to be okay. It’s not too late to learn how to make small investments and get paid for 10 and 20 years on one investment.
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How to Invest Money in Real Estate to Secure Your Future
Real estate has been around for a long time, and you can do it many different ways. I’m going to cover a way that I’ve done for the past 30 years. I’ll show you how you can make some money and keep making it after only working once. Anybody can do it.
I teach people how to buy at tax defaulted sales where they can buy real estate for 10 cents, 20 cents, or 30 cents on the dollar, and then sell it quickly for something less than the retail value.
They might sell it to someone who doesn’t have a good FICO score. When they do that, they make high interest and steady payments because these people can’t rent from anybody else and the bank won’t lend them any money.
A Repeatable Process to Create Passive Income for Retirement
An important takeaway on how to invest money in your 50s is that 50 years old is not a time to be speculating. You need to know how to make money in a systematic way. You need an investment that you can grow and grow and grow. Once you learn this process, you can do it again and again.
There are over 3,000 counties and over 5,000 auctions every year. You don’t have to buy the house in the country club; you can buy smaller houses and only make small investments.
Many of the students who practice this buy one, then they rinse and repeat and buy another one and another so that they get income from two or three of these properties.
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Investing Money in Bargain Real Estate
Ordinary people buy at tax defaulted auctions. They buy for pennies on the dollar. What you’re trying to do is buy decent quality houses for 5, 10, or 20 cents on the dollar. You don’t want to spend 90 cents on the dollar because then you won’t be able to make any money.
Why is the county even selling these properties? Because someone didn’t pay their property taxes so the county confiscated it to resell it. When the county takes the property, they wipe out the mortgage. So you’re buying a property with no mortgage and hopefully you’re getting a 60%, 70%, or 80% or more discount.
Anybody can go to the auction, attend and bid, and you’re buying from the treasurer. It’s a public auction, and the highest bidder wins.
You don’t want to bid too high. You want to buy it low so that you can sell it low. When you own the property at the right price, you can sell it quickly using seller financing. You could sell it yourself and get a title company to help you do that.
A Strategy to Sell Investment Property Quickly
When you sell it, you could give a 25% or 30% discount. Then offer an installment sale, and the whole thing would go pretty quickly.
For example, sell a $50,000 property for $35,000 that you might have bought for $5,000 or $10,000.
What you want to do is sell it and collect payments that will take care of you for the next 5, 10, 15 or even 20 years. In other words, you’re going to be the banker.
Who’s going to buy your property? People who have been rejected by the bank due to poor FICO scores. They are about 20% of the market.
These are not necessarily bad people, but I think we all can agree that sometimes good people have bad things happen. If they have a good paying job and are willing to pay you, don’t reject them.
Use Seller Financing to Generate Monthly Retirement Income
You can sell on a contract of sale, not a mortgage and not a deed of trust. You’re going to use a contract of sale. Why? So that you can hold on to the security. The security for this is the title. You do not want to give up the title.
You can let them pay you monthly. Then you’ve got money coming in into your 60s and 70s.
If you put signs on the front lawn saying installment sale and advertise on Craigslist, the Multiple Listing Service, Zillow, Trulia and other electronic sites that you’ll accept an installment sale and take monthly payments, believe me buyers will want to talk to you right away.
If you’re offering a low down payment and monthly payments on that property, there are going to be a lot of people who want that property.
You could get $300 a month for 10 years, and at the end of the year, you’d make $3,600 dollars. It’s not a lot, but what happens after ten years? You’d make $36,000 dollars, and you may have only invested $5,000.
If that isn’t a good deal, then what is a good deal? And what if you did a few more deals like that? This is an answer to your question of how to invest money in your 50s.
We hope you enjoyed Ted’s lesson, “How to Invest Money in Your 50s”
Purchasing tax delinquent real estate for pennies on the dollar, then offering it for sale at a discount via seller financing is an excellent way to generate passive income for years to come.
If you’d like to know more about tax delinquent real estate investing, Ted Thomas provides full support and complete training with home study courses, Q&A webinars, live tutorials, workshops, web classes, and personal coaching with certified coaches.
You can learn how to reap the huge rewards from tax lien and tax defaulted property investing! Get started today by taking advantage of Ted’s Free Master Class! Act now, it costs you nothing and will give you a big head start!