Learn what it is like to be a landlord, and have a property manager manage the day to day.Being conservative is never going to make you the next Bill Gates, but remember the majority of ones wealth is created by their occupation as opposed to a levered portfolio of homes.Think of your next property as a conservative investment, one that is entirely paid off, so if for some reason the economy takes a turn or you have a month or two with no tenant you will sleep just fine.All good things take time so where is the rush anyway?

Every successful REI I know is without a master's degree and those I know who are the most wealthy, don't even have a bachelor's degree.  

Some have told us we are crazy thinking wealthy investors will just hand over their money.

It's quite a bit easier to take risk with your time when you come from a wealthy family and your downside risk is limited.  

I believe a mixed balance is required of both but long term wealth is by appreciationYes you will have declines in prices etc but historically price declines are temporary

Before then, they were limited to sophisticated accredited investors/ very wealthy people with the right connections.

I am not experienced enough nor wealthy enough to take a hit if things go south.My thoughts are that you are in the same boat.

(And the next person who tells me that the way to wealth is to "follow my passion" is going to get a backhand so hard that their grandkids will feel it).And guess what happened? 

I have no interest in going full fancy concierge service for the ultra wealthy, it's too expense in overheads from labor which is extremely difficult to find in rural MT, and then it just feels like a snobby hunting club which is antithetic to Montana values.I couldn't/wouldn't do the time share model as well, because again, that comes with higher amenity expectations and people actually have rights to time as real property.Thank you for the input!

The investors backing the family offices in those cases are ultra wealthy and do not need yield today.