I have been a real estate investor for about 7 years now. I have 8 properties and am about to acquire 2 more - mostly duplexes and triplexes. After I acquire the extra two I will be cash flowing about $10K per month. I'm currently at about $7K. I work a full-time job but will quit it when my kids are out of college. Although my cash flow is nothing compared to a lot of the millionaires here, I don't need to spend a lot of time on my real estate holdings. It gets busy when I acquire the properties because I usually buy dumps that need a lot of rehab, but once the renters are in, things settle down A LOT. Technology is definitely my friend in this business.
Guys who start their own company can become fabulously wealthy, but they work their butts off doing it, and the success rate is not that great from what I hear. The chances of living comfortably from real estate seem a lot better, even if you are not generating as much cash. Besides the money, I think (especially as I get older) that the amount of time you have to do what you want is very important. Real estate is definitely not a get rich quick thing - but with inflation rearing its ugly head (don't believe what the government says - go to the grocery store and see), holding hard assets seems like a prudent thing to do. Just my $0.02.
Guys who start their own company can become fabulously wealthy, but they work their butts off doing it, and the success rate is not that great from what I hear. The chances of living comfortably from real estate seem a lot better, even if you are not generating as much cash. Besides the money, I think (especially as I get older) that the amount of time you have to do what you want is very important. Real estate is definitely not a get rich quick thing - but with inflation rearing its ugly head (don't believe what the government says - go to the grocery store and see), holding hard assets seems like a prudent thing to do. Just my $0.02.
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