I wish to go into Real Estate investing but I need something that can make me a whole lot of money over time. I was just wondering if Real Estate is the right track to get rich on
Real estate can be an excellent investment. That is how the Donald made his money.
I would say it depends on where you live and what you invest in. The higher end properties will be more likely to make you rich. My parents own several cheap rental properties and have not become rich from them. They end up having to evict tenants and houses sit empty while they try to get new tenants. My husband I bought a few houses to fix up and sell but ended up not making much. So, be careful. Check into it and try to buy properties that can be profitable. You know the saying, location, location, location.
Your not old enough to sign a contract. Wasn't that in your books? I'm not sure about local investing clubs. We don't seem to have them here. But lots of luck. Just remember everyone can read a few books but if it was just that easy everyone would be doing it. There is a lot of money to be made in real estate and you probably have some good ideas but it's experience that is the true teacher. The people that wrote those books made their money by selling those books to you. If they made so much from real estate, they just be in real estate. Most everyone knows all the theories about buying the right property with the right things wrong and all those tricks for getting property with no $. In the end it still takes cash to pull it off. . .and a lot of hard work on your part. No one will do any type of work for you until you are old enough to be legally responsible if you end up needing help. Keep working on your theories until then.
