If you had $100,000 and wanted to be a millionaire in 15 years, what would be your strategy?

I had and have a similar strategy, you said I make the purchase is a market where I finished multi rental unit cost 30000 NFL - single cost maybe 40 or 50. Rent or lease option that home for 600 or $900 a month, refinance it for virtually everything you have into it, and repeat

I would do monopoly I would buy a decent house fix it up sell it for more and keep going

Well you'll be glad to hear that you don't sound like a zombie. :) Thank you so much for the response. It makes complete sense and is helpful to my brain which is working overtime lately trying to wrap itself around new financial concepts and approaches.

Sorry Tiffany, it didn't alert me that you wrote this. Apologies. There are a few ways but the easiest (yeah, easy for me to say) is to get a private money loan for the amount you put in (purchase+rehab) and then do a rate and term refi immediately... Or as soon as the property is rehabbed and rent ready... You will need internal appraisal. What I have found is this. I asked a colleague and a family member if they wanted 7-9% interest backed by a property. One family member jumped and now I get random friends of theirs asking if I need more. The first private money is the hardest but it gets easier once they tell others. This then allows you to run more than 1 simultaneously and scale. For instance, I have put 3 props under my belt in 6 weeks and am now finally at a point where I need my refi to hit on an earlier prop so I can get another added. Good luck and please ask more if I wasn't clear. I keep hopping on these boards late and feel like I am zombie answering...

Brian, quick question- it seems like a great strategy for 100k and I know its been a system you are using successfully, but I think Im missing something. If you typically have to wait 6mos to a year to refinanance how do you do 6 a year or even 3? Thx for helping me wrap my head around it. Adam, thanks for the question, I wish I had a suggestion to add!

Thanks @Brian Larson. If you can think of any other strategies that would be awesome! Sorry if that kept you up late !

BRRR strategy. It allows you to create equity and multiply that seed money. Quick/tired math as an example. You leverage that $100k to buy a distressed house that after repairs is worth $133k. Let's say it was $75k to buy, $20k to rehab and had $5k in holding costs. So you are in $100k with a nice rental house that you then refi to get you cash back (note that 100/133 = 75%, that's for a reason :) Because you want to reuse that money, let's assume you can do this 6 times in a year (1 new house every 2 months). That may be aggressive but go with me. In one year you will have $200k in net worth added. Aka, you are 1/5 done in one year... :) You will also have cash flow from those properties so let's assume you CF at $100/door per month. In year 1 you will have a few extra thousand to build that cash reserve (again, I'm tired so no full math on this part.... Ha) OK, so buying, rehabbing, refining and renting in 2 months might be tough... Let's say you only do 3 a year... That's still $100k in equity...you will have $1m in net worth in 10 years, not 15. Not bad right? Add in the cash flow and the fact that the net worth number does Not include the $100k.... Well, not bad Good luck

If you had $100,000 where would you invest and how?If you had $100,000 where would you invest and how?

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If you had $100,000 where would you invest and how?

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