4 ms·
this is nothing new... this is stuff straight out of the automatic millionaire by David Bach..wanna get rich? First step is pay yourself and get out of debt...
by gremlinsinc 13y ago
this is nothing new... this is stuff straight out of the automatic millionaire by David Bach..wanna get rich? First step is pay yourself and get out of debt... then build up some solid investments.. real estate is a good way to build assets and wealth flipping or rentals..rentals for long term obviously.
Or do what 80% of us reading hn plan on doing ...build something awesome and get bought out for 10 mill.
- sopooneo 13y agoI never understood why real estate would be such a good investment. If one house is good, why not 100 as part of an REIT?
- twelve40 13y agoIt's different than REIT, not necessarily universally "good". One obvious difference is with a house you get a collateral for a huge low-cost leverage, that in some cases might be easier to settle if things go South (e.g. shortsale). Another one is rent you save/collect from someone else.
- sopooneo 13y agoTo me, rent just seems like a form of dividend payment, which is of course not unique to property ownership.
- gremlinsinc 13y agoI know someone who bought a 4 plex here in Dayton for $50k in cash, and earns 500 per unit ie 2k per month or 24k per year. Paid for the investment in 2 years, and is now earning 24k per year residual and bought another property for 78k. Renting is a good investment if you can handle sourcing tenants and outsourcing or handling maintenance issues.