It's a tool that the wealthy use to create a legacy for their families future.

Thank you Chris, I do see the value of skin in the game from both sides of the spectrumThat makes it seem impossible to get into a large income producing apartment complex unless your already wealthy.

New officers could liquidate corporate assets: this depends on who has the power to take what actions in the corporation.Being wealthy (and having enough assets that are worthy of jumping through large hoops to protect) does not necessarily mean owning lots of things.

I'm 39 and work in the financial profession managing investment portfolios for wealthy individuals, trusts, pensions, etc.For quite a while, I have been interested in purchasing multi-unit properties for long-term hold.

Well from talking to the seller he is pretty wealthy he currently owns a convenient store and he wants to sell everything and move to costa rico where he can get 10% on his CDs.

It wasn't all plain sailing I have had my share of headaches but if you stick at it long enough the capital appreciation will make you wealthy.

In general I think one should decrease their leverage ratio as they age and become more wealthy.

A safety net is fine in a wealthy society.

If long term wealth is your goal then getting a property with 10% cash return may be fine when you add in equity gain and appreciation, that's a personal call.How much risk can you deal with, how much work do you want to put into it (in terms of rehab and management), and what type of returns do you want to get will be the key things that should guide where and how you invest your money.

We don't know what changes will be made but my guess is it will never become better in regards to taxes so that is an item that needs to be taken into account as you try to create wealth. I