“Real estate investing, even on a very small scale, remains a tried and true means of building an individual’s cash flow and wealth.”
The last tip I recommend is to buy real estate. After you have made money in cryptocurrencies, you need money that pays you every month. I am a fan of real estate and think this is a good way to put money in your pocket every month as well as give you tax deductions.
Before you get started, you need to build your team (real estate agent, contractors, etc), find the right property, and make sure the numbers make sense. If you don’t have these, you could buy a bad property and that would only give you a big dislike for real estate.
Tax deductions are available with real estate investments that you can use to lower your tax bill. Some examples are getting tax benefits for renting your property when you pay your property manager, paying your insurance, and for repair costs.
If buying real estate is not in your future, you could consider Real Estate Investment Trusts (REITs). REITs own a basket of real estate investments and they are similar to mutual funds but trade like stocks.
A REIT pays you dividends like a real estate property does based on the amount of your investment. Some REITS you may want to consider after doing your research include Realty Income Corporation (O), New Residential Investments (NRZ), and Public Storage (PSA).
With a REIT, you won’t get the same tax advantages you would if you owned a real estate investment.
Whatever option you decide is up to you.