After many years of trying different strategies to make money with real estate, I can tell you without the slightest “hiccup”…. It’s not a sound idea to buy houses that don’t pencil out on the day you acquire them or shortly thereafter! There’s only one reason in the world that I know of to buy investment real estate, THAT IS TO MAKE MONEY. If it doesn’t or can’t then I don’t want it regardless of whatever else I may like about it.
I’ve been “sucked-in” on FUTURE VALUE, HIGHER POTENTIAL and PRIDE OF OWNERSHIP so many times, I’m embarrassed to admit it! Fortunately for me, I learned my hardest lessons early in my career before I lost the ranch.
If your goals are similar to mine, which are investing for current income and long term security with, the least amount of daily management involvement, then my strategies will work for you like they do for me. Naturally, there are many things to learn and most of it should be accomplished during the early stages of your investing. On-the-job training is most effective! Buying multiple units (colony houses), like I recommend, will get you cash flow the quickest – with less risk involved. Houses are considered a basic necessity of life. The danger of anyone taking your investment properties with my equity is almost nil if you buy them right. Joys latest book THE REAL ESTATE FISHERMAN show you exactly how to do this.