Do you have rental property – or wish you did? Perhaps, you even have rental property and wish you didn’t? 🙂 If any of those apply to you, then today’s prayer for investment property and rental property is for you!
Investing in real estate can be a blessing if it’s done right, and a curse if it’s not.
The world will often tell you to use “OPM”–“other people’s money”–to purchase real estate. Lots of investment “gurus” like to brag about the amount of real estate on their balance sheet that they bought using other people’s money. They’ll even brag about the amount of their credit card bills each month–because sometimes they’ll put real estate expenses on their credit cards!
The problem is, those people often reach their financial end and quickly.
One of my favorite finance teachers, Dave Ramsey, talks about how he invested heavily in real estate when he was young. He used OPM and ran up a lot of debt. However, it was all pulled out from under him and he went bankrupt.
After that, he and his wife decided to run their finances based on God’s principles. They began to pay off their debt and rebuild their lives debt-free. Now, Dave teaches people all over the globe how to become wealthy God’s way–without debt. [Read more…] about Day 18: Prayer for Investment Property