It's the same reason people stay rich, but not wealthy.

It was a hypothetical, but his point was that wealth is built through equity.So don't listen to the naysayers from other states!

Real wealth is in buying, holding, accumulating rents and equity over time. 

My local bank will lend my 85% of the appraisal value up front on a DSCR loan - before I even start a rehabEquity is what is really going to make someone wealthy in the long run.

I am currently building houses to sell but I know true wealth is in ownership.

And their agent is typically baffled when I tell them that this incredibly wealthy person isn't allowed to buy SFRs any more, only 2-4 unit properties that cashflow.

It's definitely not a wealthy town, but there are tons of rentals that you can acquire for a lot less than inside the 128 belt.  

I know that we become wealthy by owning real estate not selling it.

If you get wealthy enough you can buy the whole hood and rename it.

So if you want a NNN center with a national tenant at say, $3M if you don't have at least $1.5M of liquid net worth it's not going to happen.There is a reason most people start with residential, you can get loans way easier without being already wealthy.