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Updated over 6 years ago on . Most recent reply

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Mike Jordan
  • Los Angeles, CA
5
Votes |
60
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No to real estate investment

Mike Jordan
  • Los Angeles, CA
Posted

No to real estate investment for the timebeing for me at least ( temporary)

Because I already invested and I want to see how the market is doing, I want to learn more, networking.

I am against real estate gurus who says invest in big amount and leave your job bla bla bpa, first when you invest in big amount and you do have cash the interest rate will be huge and this decrease your profit and yield/ cap , also high yield mean high risk second real estate as any business have good time and bad time so leaving your sustainable job and depends mainly on real estate investment is quite risky method, if one could generate double or triple his income real estate this is something else, I don't think typical person could rich quickly without high risk

Most Popular Reply

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3,018
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Todd Dexheimer#2 Multi-Family and Apartment Investing Contributor
  • Rental Property Investor
  • St. Paul, MN
3,659
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3,018
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Todd Dexheimer#2 Multi-Family and Apartment Investing Contributor
  • Rental Property Investor
  • St. Paul, MN
Replied

To each their own. Stay in your job if that is what you want, but quitting your job in a relatively short period of time is possible. I went all in on RE in 2008 and by 2010 I had quit my job and could have done it by 2009. Buying cash flowing rental real estate that you can add value to, will allow you to create a strong passive income. I was fairly aggressive and within a few years bought around 15 units, but even a less aggressive approach will allow you to get there in under 10 years (if done right). This can all be done with very little seed money (I invested $20k of my own money). 

One thing I will say, is that it is market specific. I think that doing what I did in todays market is much more difficult and has higher risk. It can still be done, but may end up taking a few more years. 

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