I’m impressed when I hear someone has a seven figure real estate portfolio. I’m doubly impressed when I hear that someone is adding a million dollars a year in real estate to it!
Being a finance professional, stock market investing was always going to be an important pillar of the strategy.
However, I also wanted to understand how people get rich with real estate.
Eleven years and three tenants later, this rental property has proved to be a knockout investment, delivering a 19% annualized return for us – with very little headache along the way.
If you are just starting out, you probably don’t want to jump in head over heels. Equally, don’t be afraid to venture out once you’ve got more experience.
For some reason, there’s a minor obsession with “doors” in the real estate industry. Some folks like strutting around telling others they own 20, 50, or even 100+ doors.
It takes considerably less time and money to source and acquire 10 properties than 100. Just imagine having to line up mortgages and purchase docs on 100 units!