Owning rental property can be the best wealth builder around, but you need to decide whether you want to sell it and make the big cash, or rent it and build wealth slowly. If you want to sell, sell it; if you want to rent, rent it. (more…)
Being Unclear Whether You Want to Sell or Rent a Property
Posted by in Property | Resting | Selling - (0 Comments)Not Having a Written Plan for Your Investment Business
Posted by in Business | Investment | Planning | Real Estate - (0 Comments)
You’ve likely heard about the study of Harvard and Yale graduate students: Over the course of 30 years, 3 percent of the students in the study financially outperformed the other 97 percent because they had written plans and goals. (more…)
Starting Your Real Estate Investment Business (3)
Posted by in Business | Investment | Property | Real Estate - (0 Comments)
I’ve wholesaled more than 200 properties in the past three years, 80 percent of them to one person. You can flip a house to someone once and make $12,000, or you can flip a similar house for a $9,000 profit to a person who’s likely to buy five from you every year for the next 20 years. (more…)
Starting Your Real Estate Investment Business (2)
Posted by in Business | Investment | Property | Real Estate | Uncategorized - (0 Comments)
I promise you, it gets to be easier, better, and more fun. I work with partners in a lot of real estate deals. They put up the money, and we split the profit 50-50. For example, Michael will put up $50,000 on a house that we’ll fix and sell for $80,000. (more…)
Starting Your Real Estate Investment Business
Posted by in Business | Investment | Property | Real Estate - (0 Comments)
If you get into any business, particularly real estate, get in for the long run. If you don’t make at least a five-year commitment to your business, don’t even bother getting started. I’ve never met anyone who got into a business for less than a year and did well. (more…)
Treat Investing as a Real Business (2)
Posted by in Business | Investment | Property | Real Estate - (0 Comments)
I started with 12 duplexes, then 20, then 50, and then 100. At one time, I was up to 300 properties. I’m now down to 148. I’ve bought and sold 75 properties in the past five months. I’m also working on my biggest transaction ever: I’ll be putting a commercial building worth $7 million under contract, with no money down and four months to close. (more…)