Carlos certain parts of California and New York for example are appreciation driven.Meaning some wealthy people care little about the cash flow but rising annual rents and appreciation on the back end and to cut their taxes with depreciation.In those speculative markets you might not even find anything close to the 50% rule.

They get paid when you buy, whether or not that purchase makes you wealthy or makes you bankrupt.

This site keeps me motivated because it helps me to take advantage of the opportunity to becoming wealthy in something I have a passion for, and that's real estate baby!!!

I have lent money in Southern CA as low as 8% and 1 point.But most of my loans are @ 10% and 2p.There are too many wealthy foreign investors in this area who are equity rich but would not qualify for a conv. loan.They come to CA with lots of cash and buy up properties with 100% down.

After reading "deals on wheels" and "mobile home wealth" I was determined to scour all the local parks to find single wides with $5000 asking prices, and negotiate them down to a $2000 cash sale.

Wealthy Family/Friend?

-liabilities being anything that reduces wealth (ie. boats, cars)Pay yourself first: (David Bach has some good personal finance books in which he stresses this point - I may be mixing up Bach and Kiyosaki)- Put aside a portion of your income as soon as you get it (ie. automatic transfer the day you get a paycheck) so that you guarantee a portion of your income is saved and learn to live on the rest.

I have seen many wealthy investors wait and wait until the right opportunity arrives.

I know I'm late to this thread, and while I agree with most of what @Steve Theobald said, there is one form of work-around that is mentioned in @Brandon Turner's books (The Book On Rental Properties & 7 Years to 7 Figure Wealth. I

And @Steve K pointed out that the government is now taxes the importation of building materials whereas a year ago they were allowing tax free as an initiative to bring wealthy investors back to the bahamas.