Real estate wealth building
Hi All,
I always wonder, how are the big guys playing the game and getting really wealthy. Like Donald trump, is he making his money by refinancing? Selling ? How do these people live off there real estate and have such wealth ? Like for us it seems like an investment but we still need to Keep Our jobs. Because for me to be financially free I would need 300 doors if I’m making 100 per door lol. I just don’t get it. (I might get a lot of heat for this question but heck lol)
You won't "get heat" for asking a genuine question like that on here. President Trump has created his wealth through commercial real estate development. I think you already have the answer, you just need to figure out how many doors you need to quit your job and focus on real estate full time. Maybe getting from 1-15 doors will take you 2 years, 15-50 will take you 1 year, and then you find a way to live off that 5k per month, and can scale from 50-300 doors in another 4-6 years. So in less than 10 years you are financially free. There is no instructions manual to getting to financial freedom, just tools that you can combine with each other. Like selling a property to 1031 into a bigger property, or refinancing a property to get 3 more properties. The most important thing is taking action and doing something.
-
Real Estate Agent Nebraska (#20210707)
- 402-968-3926
- [email protected]
Originally posted by @Tanner Sherman:You won't "get heat" for asking a genuine question like that on here. President Trump has created his wealth through commercial real estate development. I think you already have the answer, you just need to figure out how many doors you need to quit your job and focus on real estate full time. Maybe getting from 1-15 doors will take you 2 years, 15-50 will take you 1 year, and then you find a way to live off that 5k per month, and can scale from 50-300 doors in another 4-6 years. So in less than 10 years you are financially free. There is no instructions manual to getting to financial freedom, just tools that you can combine with each other. Like selling a property to 1031 into a bigger property, or refinancing a property to get 3 more properties. The most important thing is taking action and doing something.
But the question is does someone like Donald trump make money off doors or refi? Like if I have a property I’m breaking even on and in a year it appreciates and I refi, I know I can use that to Buy another property but how does that end up putting money in my pocket ?
Since he makes his money by building, I would assume the answer you are looking for is doors. Refinancing is a strategy of operators but the go-to for creating wealth is acquiring more doors, or in the case of developers, building them.
-
Real Estate Agent Nebraska (#20210707)
- 402-968-3926
- [email protected]
I see you edited from 1000 to 300 doors needed to be financially free. Still, at $100 per door, that means you need $30,000 per month to be financially free? Or are you only cash flowing $100 per door per year?
@Abraham Shamosh loan pay down plus property appreciation over time leads to wealth. Also, finding ways to create and capture equity is key. The wealthy simply focus on accumulating assets that cashflow. It’s a get rich slow strategy for most of us. Good luck!