Not easy, but certainly doable. Time is your friend.
I have a client who now is 53 years old, he started with zero. Today he is worth about $8 million and within a year or two he will crack the $10 million mark. Twenty years ago I assisted him to invest his first investment property — a small, 8-unit apartment building — and today he own nearly two hundred units, divided among several properties. But I’m proud of what I’ve guided him to be now.
He shared with me many things like he treat his business strictly just business, and it’s a full-time job for him. Only recently he stopped working a regular job. That means he had many years where he was almost working two full-time jobs. He gave up lots of fun things and kept his expenses reasonable for a long time to get to where he is.
You might be able to get lucky by buying something that appreciates significantly in a short period of time, but the opposite can happen too. Buying for appreciation, or “flipping” properties is really just gambling, and I don’t recommend it. I’m not saying you can’t make money that way, but you can just as easily lose money — you can’t control what happens in the economy and the housing market. This is a business. Buy properties which make financial sense and will return cash flow to your bottom line. If they appreciate too, that’s icing on the cake! But he never has to worry if the market takes a dip, as his properties keep on generating cash and he is not so highly leveraged that market changes are a problem. And he hold them unless selling them allows him to buy something that will make him even more money.
Over time, you start to get mortgages paid down (and paid off), and the slow appreciation over time will increase your property values, usually at least. he was a millionaire after about ten years. Another decade later and He almost a ten millionaire. You can do it too. Start Your Investment Property Search! Check out Developer Website: Treasure At Tampines, The Florence Residences, Stirling Residences & Whistler Grand