These are some Wealth Creation Strategies that the Ultra Wealthy employ all the time as their biggest concern is Wealth Preservation.I know this was a 30k foot overview of the possibilities but like I mentioned, it would take a very long post including charts and narrative to go over the "fun" and being honest probably way beyond the scope of this forum.Get with a strong Attorney, Estate Planner and CPA to put the game-plan in action.

The median income also lessens the impact of ultra-high-wages residents (which you and I both know are far more common in NY than the city of Cleveland).As an aside, I don't like using the city of Cleveland as a statistical marker.

I am an ultra successful real estate investor, rather than go back and forth replying to erroneous comments they only one I will respond to is by Mike's and the rest I will take a pass.

Majority of the book was about his ultra frugality and how he invested that into real estate.

And yes, the ultra-favorable financing terms are my entire point in my interest.

I'm still learning the Austin market and everything seems to be ultra competitive which may push me out of this market for rentals if deals can be found that make the numbers work.

, 225K generates 500/mo after 33% taxation$2200 rent - 500 = $1700/mo cost of living (ultra worst case)At a 7% return after sale for 575K sale (best case scenario), the 245K generates $957/mo after taxes

My market is ultra competitive and I find that getting sellers to take six figure haircuts is much harder to do than in other markets where the haircuts are five figures or less.

There are a select few that will lend with as little as 15% but you will pay a higher interest rate and you will have to be ultra solid as a borrower. 

Using the SFR as an example, I could likely get a 2300 SqFt building with low quality finishes, basic architectural design, etc finished for under $400K ($175/sqft)However, if you had an ultra- high-end, luxury home before; you likely won't be very happy with what that $400k ultimately yields.