1,057,824
How well capitalized are you to start with?
How comprehensive is your market knowledge of the area that you're investing in?
How well-versed are you at investment financial analysis?
How comprehensive is your investment plan?
How good/ reliable is your team of vendors?
Having said all that, real estate has never been in instant fast track to wealth. It's not an in-the-moment thing. It's a process.
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Kasey & John Boles
Boise, ID
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Thomas J. Nelson, REAL...
La Jolla, CA
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Debe Maxwell, CRS
Charlotte, NC
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Lynnea Miller
Bend, OR
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Michael Setunsky
Woodbridge, VA
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Nina Hollander, Broker
Charlotte, NC
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Candice A. Donofrio
Fort Mohave, AZ
4,908,539
Too many variables and moving parts to answer you question (IMHO).
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Abby Stiller
Cape Coral, FL
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Thomas J. Nelson, REAL...
La Jolla, CA
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Debe Maxwell, CRS
Charlotte, NC
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Sandy Padula & Norm Pa...
, CA
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Nina Hollander, Broker
Charlotte, NC
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Ron and Alexandra Seigel
Carpinteria, CA
2,222,281
Not fast enough Mike.
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Thomas J. Nelson, REAL...
La Jolla, CA
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Debe Maxwell, CRS
Charlotte, NC
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Eve Alexander
Tampa, FL
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Nina Hollander, Broker
Charlotte, NC
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Mike Albert
New York, NY
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Anthony Acosta - ALLAT...
Atlanta, GA
5,583,328
if you buy it right and during the bottom of the market, you'll make a score faster than if you bought it at the peak for top dollar....
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Kasey & John Boles
Boise, ID
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Thomas J. Nelson, REAL...
La Jolla, CA
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Debe Maxwell, CRS
Charlotte, NC
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Nina Hollander, Broker
Charlotte, NC
2,684,769
Not as fast as those bull shooters on HGTV would have you believe.
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Kasey & John Boles
Boise, ID
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Thomas J. Nelson, REAL...
La Jolla, CA
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Debe Maxwell, CRS
Charlotte, NC
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Nina Hollander, Broker
Charlotte, NC
1,555,300
The fastest way to make a million dollars in real estate with no experience is to invest 2 million dollars in real estate; you'll be down to a million in no time.
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Debe Maxwell, CRS
Charlotte, NC
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Candice A. Donofrio
Fort Mohave, AZ
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Thomas J. Nelson, REAL...
La Jolla, CA
767,089
Here in California it can happen almost overnight for someone that bought a few of them at the bottom of the market.
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Kasey & John Boles
Boise, ID
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Thomas J. Nelson, REAL...
La Jolla, CA
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Debe Maxwell, CRS
Charlotte, NC
1,712,876
I haven't measured the time but multi is more like it.
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Thomas J. Nelson, REAL...
La Jolla, CA
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Debe Maxwell, CRS
Charlotte, NC
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Nina Hollander, Broker
Charlotte, NC
5,259,152
I have friends/clients who are doing quite well accumulating wealth with their investment property purchases. You have to have a plan and understanding of the market and your financial goals.
Seek advice from Joe Pryor as he is an investor guru and has his finger on the pulse of the investment protocol.
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Abby Stiller
Cape Coral, FL
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Thomas J. Nelson, REAL...
La Jolla, CA
6,426,360
Sometimes people lose their savings on rentals.
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Thomas J. Nelson, REAL...
La Jolla, CA
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Debe Maxwell, CRS
Charlotte, NC
3,988,013
It depends how well funded you are and how high rents and vacancy rates are. If you do it right you can build lots of personal wealth but it is work.
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Abby Stiller
Cape Coral, FL
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Thomas J. Nelson, REAL...
La Jolla, CA
717,185
No easy answer here as so much depends on what you paid for the property, what you can rent the properties for, how much your market is growing, do you have a decent manager, any issues with finding good tenants, many, many other things to determine.
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Thomas J. Nelson, REAL...
La Jolla, CA
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Debe Maxwell, CRS
Charlotte, NC
1,507,223
Took me 2 years. Had to buy two properties, both worth over 500k (not much out here under that). Boom, done. Just don't look at the mortgage.
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Kasey & John Boles
Boise, ID
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Thomas J. Nelson, REAL...
La Jolla, CA
544,014
It depends if a housing crash and a recession pull the rug out from under you in the middle.
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Thomas J. Nelson, REAL...
La Jolla, CA
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Debe Maxwell, CRS
Charlotte, NC
1,466,257
Mike Albert I can't add anything to what Candice A. Donofrio has said.
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Thomas J. Nelson, REAL...
La Jolla, CA
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Candice A. Donofrio
Fort Mohave, AZ
5,247,618
Buy low, sell high, get top rent and hope for inflation!
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Thomas J. Nelson, REAL...
La Jolla, CA
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Nina Hollander, Broker
Charlotte, NC
5,773,392
Mike,
There were books written about that in the past. And I agree with Richard Weeks
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Thomas J. Nelson, REAL...
La Jolla, CA
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Debe Maxwell, CRS
Charlotte, NC
599,734
Thomas J. Nelson, Realtor,CRS,e-Pro already beat me to the punchline so I'll give a serious answer. Building wealth is a long-term goal. It can be done quicker with real estate than most other vehicles but it still requires time, patience, wise purchases, and persistence. Anyone that says you can get rich quick is selling you something because quick riches only happen through luck, not wise investing.
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Thomas J. Nelson, REAL...
La Jolla, CA
789,031
991,952
If you buy a rental property for a million dollars, you are a millionaire
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Debe Maxwell, CRS
Charlotte, NC
3,350,914
What Candice A. Donofrio said. It ruly depends on the market one is investing in. And as we have seen in recent past ... those millions can easily fade away in a downturn.
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Candice A. Donofrio
Fort Mohave, AZ
914,328
It's not a get rich quick scenario.
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Candice A. Donofrio
Fort Mohave, AZ
3,071,589
3,986,308
The more you have and try the more times issues will come up
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Thomas J. Nelson, REAL...
La Jolla, CA
1,525,616
1,617,916
7,872,838
2,196,059
1,242,204
Timing is crucial. It is a long term committment.
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Thomas J. Nelson, REAL...
La Jolla, CA
1,729,017
5,117,828
I have no idea... what do you think?
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Thomas J. Nelson, REAL...
La Jolla, CA
2,785,756
Investment properties are a proven well know guaranteed retirement strategy. Becoming a millionaire naturally follows. Enjoy the journey instead
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Thomas J. Nelson, REAL...
La Jolla, CA
4,434,177
4,800,132
1,625,746
4,319,873
Mike Albert - timing is everything. If you strike it hot, there is no looking back!
Good luck.