Wealth in Real Estate
Real Estate Investing is NOT a get-rich-quick scheme. Those late night infomercials on TV touting the “zero-down-buy-houses-for-$700” programs are NOT the way to get rich in real estate. (However, selling those “zero-down-buy-houses-for-$700” programs on late night TV IS a good strategy for getting rich in real estate! You take money from people who want the no-risk, no-effort answers to their money woes.)
I’m not saying that the information being sold by these programs is bad – many of these programs have good information in them, but the people who buy these programs are very unlikely to ever profit themselves. Why? Because these programs promote very advanced or very un-typical strategies. Do you want to know about these strategies at some point? Yes! Can these programs and systems help you grow your business? Yes! But your first few deals are NOT going to be of the “advanced” or “un-typical” variety, so you don’t need these programs before you get started.
It’s Like Learning The Violin
Think of it this way: If you want to be a world-class concert violinist, you’re probably going to need to know how to play effectively in 7th position (a very advanced technique). If I wanted to sell you a miracle violin-playing info-product, I’d tout the benefits of how playing in 7th position will get you to the top and show you some examples of violinists using it. “Since so few violinists know how,” I’d tell you, “once you learn this technique you’ll have a huge advantage.”
But if you’ve never played the violin before, you’re not going to be able to use my instruction to immediately start playing in 7th position. It’s something you have to work up to. You need to start with something more basic and eventually you’ll be ready for the advanced techniques. And while you’re getting yourself ready to learn 7th position, you’ll still be able to create some really beautiful music by only knowing the basics.
The Number One Millionaire Maker!
Real estate investing is far and away the number one millionaire-making investment vehicle there is. There is no other strategy that even comes close to real estate when it comes to how rich people in this country got rich. Lotteries, Gambling, Inheritances, even Business Successes pale in comparison to the sheer number of people who owe their financial success to sound real estate investing. And you don’t have to know ALL the tricks to do really well at it. Opportunities in this field are available to virtually anyone who wants in and is willing to WORK at it.
Real Simple Strategy
Here’s a real simple strategy that you can use to retire in 30 years with over $2 million in the bank – with very little investment of money on your part. All you have to do is:
- Borrow money to buy $500,000 worth of property(s).
- Find other people to pay back your loan for you.
- Wait.
The other people paying back your loan for you are called “renters”. Assuming you can rent your properties for enough money to cover the typical 30 year mortgage loan payments, AND assuming that your properties increase in value at the historical rate of 5% per year, in 30 years you will have property that is completely paid off that has grown in value to over $2 million.
Oh, and if $2 million isn’t enough for you to retire on – then just buy more properties. The additional properties all follow the same formula – having more properties does not change the math.
Is It Really That Simple?
Now the obvious question is, “Is it really that simple?” And the answer is, “Absolutely”. Find good properties, keep them full of happy renters, and let time take over. It doesn’t get much simpler than that. So, if you have 30 years until you plan on retiring, all you need to do is buy two $250,000 homes this year, and you’re on your way.
Don’t let Fear keep you from acting
People can and do lose money in real estate. Mistakes are easy to make. Disaster stories are easy to find. And maybe the worst thing about all of this: IT TAKES WORK! So, this is definitely not for everyone. But if you swallow your fear, educate yourself, surround yourself with good advisors and mentors (people actually DOING it already and not those who’ll tell you it’s a bad idea to buy anything in this market, blah, blah, waay, waay, cry, cry…), and get out there and try – you CAN make yourself a lot of money doing this.
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