Turn a $8,000 Investment into $1 million
You can do this Through the Lucrative Real Estate Rental Market. All it takes is an entrepreneurial spirit, some self-education & just simply thinking out of the box.
Don’t sell just rent "By renting your property you can get 100 percent of your equity."
Also check out the benefit from numerous tax breaks, property appreciation and a steady stream of income for as long as you own the rental property (that's called a positive cash flow). Income-producing properties aren't exactly taking the world by storm. Why because most people don't understand how it works.
The strategy is simple:
Let's say you are 30 years old and you buy your first house for about $160,000, with an $8,000 down payment.
Know keep in mind that as a good property investor, when you buy it's an investment not a home. Treat it as such!
You live in your investment for about two years, then you rent it out, use the equity you've accrued so far to finance your next property acquisition.
Now just continue this every two years for a period of fifteen years and by the age of 60 years young, you will have a portfolio of five homes and real estate holdings worth more than $1 million.
All off that $8,000 down payment.
If all goes as planned, your tenants will have paid for the rental properties and you can sit back and collect the income.
By using this plan you will be taking in about $100,000 a year in rent. Now knock off about 30 percent just to cover taxes, insurance and property maintenance costs and you will have about $70,000 profit each year.
Now let's say you’re a little creative and you do 1 unit per year you would hit $2 million plus at age 60.
Real Estate is the best game I know on earth where you can have fun and make good money at it too.
John Michael
What about the mortgages on each home every two years? The rent would just cover the mortgage payments. The net income would be far less than the 18K mentioned. Am I missing something?