Donald Trump Changed My Paradigm!!
I am posting this here as GAME CHANGER for me. It is better placed here in success stories, instead of elsewhere because If I can do this, you can too!
I mean this from the bottom of my heart. I read about Donald Trump and his then wife and Mother of Ivanka Trump about how the American Dream is alive and well. It blew my mind!!
I was experiencing an economic crisis of sorts and was learning my entire economic ladder was clearly leaning against the wrong building!!
After I read that Donald Trump bought low in Manhatten and visualized the possibilities and he realized the geographic realities of limited horizontal building prospects and the downturn in the 70's, he was off to the races, I decided to buy low cost condos in San Diego.
If you are just starting out or just have a few investment properties or have experienced a wake up call that your economic ladder is leaning on the wrong building, then this is written for you!!
In a period of two years, I purchased, with long term debt 10 rental condos. The leveraged cash flow was good $350-$600 tax deferred cash flow was good. I was getting $3500-$4000.00 a month. Then guess what happened? Appreciation happened!!
I learned living in pricey San Diego for 75% of being in this earth that our RE here appreciated exponentially in San Diego and then just the opposite occurs and all that I not yet realized phantom equity is lost in the next downturn.
Sooooooo, I educated myself, made connections, and started 1031 exchanging this pricey San Diego Real Estate in 2016 for Apartment complexes in an area of the United States that you would never expect.
That area was North East Cleveland. In 2015, it was ranked as one of the top areas in the U.S. for health care jobs. Plus, it was a great cash flowing area as evidenced by 8 single family I owned there for well under $30,000 each, that cash flowed $400.00 each, after all expenses, including $150.00 reserves per month for cap ex type stuff.
Sooooo, now I have $10,000 tax deferred cash flow per month and 5.5 million in property and 2.5 million in Equity and 87 front doors!!!
If you change the way you look at things, the things you look at change right before your eyes!!
Swanny