Hi RichI am a real estate investor in the Peoria Illinois area as well.

The lifestyle of being equity rich vs cash rich is completely different.

Im a big Kiyosaki fan so of course ive read Rich Dad Poor Dad as well as Retire young, retire rich. I

Went out and looked at a property yesterday in a richie rich area.

Originally posted by @Lionel Li:@Stephanie P.485/mo after PITI, not even including the water bill like Isaac mentioned in the first post is nothing I'd get excited for.

Thanks Rich! I

Rinse and repeat a few years until you have a few multis and then use that cashflow to buy even more.Getting rich is not an overnight thing but it is very easy in america to get rich over 5 years with patience, hard work and diligence.

(Think herd mentality)Nothing new, been through a few of them,.....I checked that one prop the OP posted, those are everywhere, non cashflow, lots of renovation needed types of places.I say, "let 'em sit for awhile and stew" better deals for those that wait and keep looking around I'm thinking.Yes, LA has a housing shortage currently, and it's not the first time.We're in no hurry to buy at the top of any cycle, especially considering the sq ft costs being achieved right now in sales.Might be cheaper to build new in another state than pay $279 per sq. ft here with less than grade A tenants,...Unless throwing 120k - 150k down is easy for you for 1 property,....I say go.I'm not so rich I can afford to be cheap, (or silly) with my dough.my .02

Rich is a frame of mind.

The point of Kiyousaki's materials is that "rich" is not what is in your wallet, it's what between your ears.