The number one mistake for millennials is NOT buying a home???? Wrong. You don’t need a home, you need cash flow. Never ever buy a house. It’s not a dream, it’s a death trap. It doesn’t multiply your money! David Bach recently came out with advice for all millennials:
1) Do a 15 year mortgage
2) Buy small
3) Brown Bag your lunch every day
This advice is terrible if you want to get super wealthy. Instead, get into multi-family real estate investing. You need more than one door. Homes only go up in value with the neighborhood around it, and most homes don’t give you a good exit plan. If you want a more sure investment, you want many doors and cash flow! Watch the full show to get ALL the reasons why a home is not a good deal.
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