Multi-family dwellings and your real estate investment fast track to riches
When you are in real estate there are so many demands made on your time and you devote so much concentration and effort in closing each deal that you rarely have the luxury of time to step back and think. Yet stepping back and thinking is exactly what sets you apart from those real estate investors who are destined to lose their way and fail.
As a real estate investor who has been in the business long enough to actually have seen almost any kind of permutation of the real estate market you care to mention, I have had the dubious pleasure to have made some of the worst mistakes in the book. I was also lucky enough to survive them and, as a result, learn from them and profit from that experience.
As I am writing this I am sitting pretty on a cool million bucks in the bank and a portfolio of over 4,000 apartments that give me a monthly residual income which ensures that I work only when I choose to. The fact that I achieved this is evidence of the fact that almost anyone can. This means that there are decisions you will need to make in your career as a real estate investor that will put you on the path to wealth faster than other decisions.
This is what I will cover here. As the owner of over 4,000 apartments you may well think that I have a bias towards multi-family dwellings. That however, is only partly true. I have a bias towards multi-family dwellings as the kind of investment that allows you to create a decent, long-term residual income stream but I also know that our career, by its very nature, is a little opportunistic.
Chances that are too good to pass up absorb our time and energy and we need to have a clear-cut strategy worked out that allows us to prioritise our efforts and understand that when we decide to buy a house and flip it for a quick profit it is part of a strategy, a step in a longer, carefully choreographed dance that is taking us towards a direction of our choosing rather than one that is governed by pure chance.
I know, it all sounds poetic but it's actually very practical. Developing real estate strategies that help you win, deciding when to focus on single family dwellings and when to go for multi-family ones, and deciding just how to map out your real estate investment career based on an assessment of your natural abilities and inclination are just part of the things I cover in my courses, seminars and bootcamp weekends.
The point is that real estate investment is not rocket science, provided that you follow certain basic principles and are prepared to work hard you will be able to make a success of it.
As a real estate investor who has been in the business long enough to actually have seen almost any kind of permutation of the real estate market you care to mention, I have had the dubious pleasure to have made some of the worst mistakes in the book. I was also lucky enough to survive them and, as a result, learn from them and profit from that experience.
As I am writing this I am sitting pretty on a cool million bucks in the bank and a portfolio of over 4,000 apartments that give me a monthly residual income which ensures that I work only when I choose to. The fact that I achieved this is evidence of the fact that almost anyone can. This means that there are decisions you will need to make in your career as a real estate investor that will put you on the path to wealth faster than other decisions.
This is what I will cover here. As the owner of over 4,000 apartments you may well think that I have a bias towards multi-family dwellings. That however, is only partly true. I have a bias towards multi-family dwellings as the kind of investment that allows you to create a decent, long-term residual income stream but I also know that our career, by its very nature, is a little opportunistic.
Chances that are too good to pass up absorb our time and energy and we need to have a clear-cut strategy worked out that allows us to prioritise our efforts and understand that when we decide to buy a house and flip it for a quick profit it is part of a strategy, a step in a longer, carefully choreographed dance that is taking us towards a direction of our choosing rather than one that is governed by pure chance.
I know, it all sounds poetic but it's actually very practical. Developing real estate strategies that help you win, deciding when to focus on single family dwellings and when to go for multi-family ones, and deciding just how to map out your real estate investment career based on an assessment of your natural abilities and inclination are just part of the things I cover in my courses, seminars and bootcamp weekends.
The point is that real estate investment is not rocket science, provided that you follow certain basic principles and are prepared to work hard you will be able to make a success of it.
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