The Best "Get Rich in Real Estate" Idea I Have Ever Seen

As a absolute acreage agent, I accept met my fair allotment of absolute acreage investors. A few accept fabricated a lot of money at it. The investors that I've met, who accept become "rich" in absolute acreage aggregate one affection in common: They bought acreage as a abiding investment.

Shortly afterwards accident money I couldn't allow to lose on a fixer/ bender address in Phoenix I begin a book that absolutely change how I looked at absolute acreage investing.

That book was alleged Shop for and Hold" by David, Schumacher, Ph.D His advance aesthetics is to shop for rental acreage in the best, advance areas in town, hire them out and authority assimilate them for the continued appellation ("long-term" actuality 20 years or longer). I won't go too far into answer this book, but I will say shop for the book and apprehend it.

Think back, what did homes advertise for in your breadth 20 years ago? I bought a abode in Denver in 1986 for $85,000. If I had kept it, that abode would advertise now for $275,000 or more.

I apperceive an broker that lives in Denver, who as he got abutting to retiring, bought one or two Denver rental backdrop per year. Afterwards he retired, he lived in Phoenix during the winter months and bought one fresh Phoenix rental anniversary winter. His son lived in Phoenix and managed the Phoenix backdrop in barter for bisected the profits. The aftermost time I talked to the dad (in 1998) he endemic 3 homes, 2 triplexes, 3 condos, and a 17 assemblage accommodation building. At that time, the accommodation architecture was accouterment aloof beneath $10,000/month in absolute banknote breeze He had never awash any of the properties. He aloof kept them anchored up, rented, and enjoyed the assets and the winters in Phoenix.

I afresh met an earlier brace who had purchased a home in St. George, Utah for about $20,000 in the backward 1970's. This brace lived in the home for about 6 years and again busy it out until July of 2004. In September, 2004, they put the home up for sale. Their absolute acreage abettor awash this home for $200,000. Not a bad acknowledgment and that doesn't alike calculation the able absolute banknote breeze they enjoyed for years.

From my point of view, affairs and captivation seems to be the safest, surest way to absolute acreage wealth.