I don't want to be Donald Trump or anything. But I would like to set a goal of owning 100 apartment units. I'm not too sure how to start my endeavor, I'm hoping after I take business I'll have learned all the ins and outs for investing real estate. If anybody could kindly give me some suggestions on how I should start this venture that'd be great
You start by buying one then use that equity to buy the next. It won't pay enough to compensate you for all your work. Better to invest your money.
First you get a good job that pays you lots of money. So much money that you can live like a pauper and save most of it for a down payment for a duplex for you and a tenant to live in. Keep this job, or get a better one that pays even more. The more you make from your regular job, the more you will be able to borrow to buy investment property. After a you pay taxes on the rental income you get from your duplex you can count it as your own income. Then maybe buy a 4-plex and keep it rented for a couple of years allowing you to buy another, then another, then maybe leverage the equity you have in the 4-plexes to buy a couple more. Then after a couple of more years sell them all and become a partner in a multiunit apartment building. It is a process.
This Site Might Help You. RE: How to build a real estate empire? I don't want to be Donald Trump or anything. But I would like to set a goal of owning 100 apartment units. I'm not too sure how to start my endeavor, I'm hoping after I take business I'll have learned all the ins and outs for investing real estate. If anybody could kindly give me...
Business is great but if you want to pursue real estate, law, especially contract law is very advantageous. Get a BA or more, obtain your real estate licence(easy) and then look for a commercial brokerage to start with. If you want to understand what being a landlord is, you want to learn from landlords or the guys that work with them. You can make money selling homes but you will not learn about being a landlord working for a residential Realtor. There are something things you can't learn with out doing them.
