3 Luxury Collections That Can Build Wealth

There are many reasons and benefits for why people collect things. From personal pleasure to social interactions with fellow collectors. From wanting to have a connection to history to nostalgia of a memory from the past. There are even health benefits from stress reduction to just having a sense of joy in the learning collections can bring. The cherry on top, is understanding that there are some collections that can build wealth and even help diversify your long term investment profile.

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Why we decided to buy a Rental Property before Primary residence

Rent prices prices in 2015-2016 in NYC made it near impossible to purchase an investment property while you rent. The NOI on an investment property just did not yield enough to tip the balance in your favor of also paying rent for a large home that was safe enough to raise a child. However, for someone starting out in real estate and not wanting to purchase an investment out of state just yet, one strategy that we choose was to purchase a property with the intent to rent out but live in first. This strategy allows you to be more patient and see where the market heads but still be in the game. For our situation, purchasing a rental property before primary residence worked for us for 3 main reasons.

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