Most people work for their money, and they can become very rich doing that. But wealthy people have their money work for them and can become even wealthier with ease.
I have already begun to go down the road to a life of wealth. I began my journey thru education. I read everything I can about real estate. Some books are better than others, and I only read the good ones from cover to cover. As I go along I will mention those that have helped me in my journey.
I have heard time and time again throughout my life “There is no time like the present”, “Just do it.” and other encouraging things, but I was always too afraid to try, or did not know exactly what to “just do”. Well, my advice is not to just go out there and buy investments, but do go out and learn about them. Nothing could be simpler. In this modern day, you do not even need to buy the books. The bookstores offer you comfortable seating to read the books right there in the store.
So what are you waiting for?
4 comments:
I'm on the same warpath, check out my blog if you will to see how my progress is coming along (3 properties thus-far).
My strategy might be a bit different than most (focusing on student rental opportunities due to their high ROI). So, it might be interesting to compare strategies.
... Here's another one I like To Become Wealthy: Starting in Real Estate. I found this one interesting because I too am interested in getting into REI, probably more on the rental side. These are just a couple, but I am sure I will find plenty more.
Thank you for your comments. It is always good to hear about others who are on the same path.
Different strategies of investing are good. I do not believe that any one method should be used across the board. I hope to be able to branch out to differnt types of real estate. How do you target the location so precisely to just rent to students?
I am always interested in hearing other peoples methods of investing.
Check out this post for more information on the market in my city. Basically, there is a huge student population in the city (about 10-15% of the base population). So, for about 5kms around the University you find many houses that have been converted into student rentals, as well as apartments, townhouse developments, etc.
It is a good market, but there are of course a few drawbacks to renting to students (on-average yearly turnover of tennants). However, the returns are lucrative because they are willing to rent per bedroom in most cases, and pay a high premium to live near the campus.
NG
Post a Comment