Buying Multiple Properties!

[Stanley A.]

Hello:

I have seen posts and listened to podcasts where folks state that they were able to acquire double digit properties within a short period of time. I know that when you approach lenders, they want you to have some level of reserve to cover previous properties and 20-25 percent down payment. So I am assuming that an investor  who has 40-60 properties that he\she acquired within 2 years should already have been a millionaire before investing. Can anyone shed the lights on how this is done? Thanks.