I just re counted the list. 43 out of the top 501. So, if getting really rich is your goal, real estate is one way, but its only one way. And not even an especially common way. We operate in a "winner take most" environment that sorts a few out for massive wealth. "Success breeds success" is one way its said. "The 1%" vs. "the 99%" is another. For every real estate tycoon (or sports star, movie star, retail tycoon, or internet entrepreneur) there are hundreds or thousands of people who are just as smart, know just as many right answers, and work just as hard, but just do something a little different and come out much worse. Two books I like that discuss Air Max 95 Grey White
Can real estate really produce th
A MONTH, EVEN POSSIBLY YEARS?
incredibly unlikely. A more realistic goal is to make a comfortable living wage, while setting away some for retirement and vacations.
Jon Holdman, Flying Phoenix LLC
Yes. It does and can happen. It is about your level of determination. It doesn happen overnight. I know a gentlemen who has experienced this. He built 100 million dollar portfolio in 14 years.
All of these could product millions, but rarely do.
this phonenomena are "Outliers" by Malcolm Gladwell and "The Black Swan" by Nassim Nicholas Taleb. That story is a little discouraging. But I take two lessons from it. First, hard work (in all its various forms) is essential. Without it, you have little chance of huge success. Second, if you don achieve these top pinnacles, then don be discouraged. The stars have to align so carefully that even killing yourself to achieve these goals probably won get you to the tip top.
I think (know) it is very likely and a proven fact. Many millionaires are made from RE. Can you start small with a few rentals and grow the portfolio to 1000 doors each producing $100 per month cash flow? Of course you can and many have and will continue. Others do even more. Some time back, I looked at the Forbes richest people list. A handful out of the top 100 had dealings in real estate.
And the article was about how these guys built HUGE real estate companies over there careers, and how they almost lost it all, good times and bad times ect.
For every multi millionaire that "made it" in real estate, you have tens and tens of thousands who only make a modest living. If that.
Real estate has made some (a small percentage) of people millions. There was a show on HGTV where each room in a mansion was worth $1 million. The house was worth, I think, tens of millions total. The owner was a real estate mongol in California. They didn say his name on HGTV, just his industry.
The interview/articles featured people such Sam Zell, Eli Broad, Stephen Ross, Jorge Perez ect
So i was reading a really interesting article on FORBES the other day, and it was about how many of these real estate TYCOONS did over there careers.
Ask yourself this. If someone bought a house in 2002 and then sold in 2007 they likely made a ton, especially in boomy areas. But did they really know something the guy who bought in 2006 and then wanted to sell in 2011 didn A few, perhaps. Some did read the tea leaves and saw the bubble was about to burst. But by far the conventional wisdom in 2006 was that you should be buying as much real estate as possible. If Air Max Ultra Superfly On Feet you did, its entirely possible the rest of your life is seriously challenged.
IS REAL ESTATE REALLY PRODUCING THESE GUYS MILLIONS OF DOLLARS OF CASH FLOW IN Air Max All White On Feet
I think it would be incredibly unrealistic to go into this thinking you make millions. I would run the numbers on each deal and try to make a reasonable middle class living in order to stay in the business. Otherwise, I get out of it.
I would imagine that most here are making more than I do from rentals. Very much more, I would guess. Even so, I would say that the odds of making millions and millions in cash off real estate aren likely. Some combination of pre existing assets and cash to invest, know how, connections, luck, tenants, flat out chance, and rental market could all be factors. You could have two people following the same investment process and one be rich, the other be making a small amount. I would say "chance" has something to do with it, along with skill, connections, luck, location, and the other things.
I know this may sound like a silly question, but i really wonder.
Or, even nerdy teen who makes a website thinks they the next Google.
It like every kid who self produces a song on YouTube thinks they become rich and famous.
It was very interesting because these guys were all talking about the kinds of deals they were doing, how things were when they first started out ect
WHAT SEPARATES THOSE GUYS FROM US (OF COURSE $$$) BUT HOW IS IT THAT THESE GUYS ARE ABLE TO BUILD THESE MASSIVE NETWORTHS???
Im really excited about hearing some of the feedback BP!
Possible, but Air Max Usa
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