www.AustinREinvestment.com AUSTIN TEXAS INVESTORS´ RESIDENTIAL REAL ESTATE PLAN & STRATEGY FOR FINANCIAL WEALTH   The authors of the Millionaire Real Investor (MREI) defined Financial Wealth as "unearned income to finance your life mission without having to work" for money.   Strategy: MREI book is based on extensive research and interviews with over 120 millionaire real estate investors like these, Gary Keller´s "how to" guide reveals the models, strategies and fundamental truths Millionaires used to become wealthy through real estate investing. The book focuses on the three simple but dynamic forces to identify potential deals. (The first 5 people that call will receive a FREE copy of the MREI book)   The first is CRITERIA-criteria are the standards that define what kind of property you are looking for.  Is it a single family or multi-family opportunity? What are the features or amenities? What is the location? These are the aspect of the properties that can´t be negotiated.   The next foundation is TERMS-this means how you buy the property. This is how you turn your opportunity, which meets your criteria, into a deal. Terms are the negotiable aspect of your investment, such as the offer price, the down payment, interest rates, occupancy date and closing costs.   The last foundation of the model is NETWORK; the people who help you find, complete and support your real estate investments. Your network will provide you with the help to start and to succeed. Start now and build your team. You will need a Realtor, lender, inspector, property manager, handymen, painters, attorney & an accountant.   Why should you implement a plan of action now? You could choose to buy with 15 years term to build your NET WORTH faster. Tenants will pay down your mortgage, the property will appreciate in value & you will have tax write in your prime working years. Also, you will want to pass wealth to your children & to have enough CASH FLOW to retire in 10 to 15 years.   Think of the Possibilities! (1) You could take the cash flow or your extra cash in say the 6th year through the 10th year and pay off the mortgages. (2) You continue to acquire properties. (3) You could retire in 10 years. The rental income could be used to pay property taxes, property up-keep and to finance your life mission.   You could buy and hold for appreciation, or do IRS 1031 exchanges for say an apartment complex, or an ownership interest in shopping center. You could exchange your rentals for a larger investment property in another State or exchange some properties for say, a storage complex. The options to diversify by type of investment property or geographically are virtually unlimited.  Remember that capital gain taxes are avoided on the properties that are passed on at death to your children. Check this out with your accountant.