Updated over 16 years ago on . Most recent reply
If You Got Rich In Real Estate, Would You Even Know It?
Obviously, this is a knock-off of another recent post which asked what you would do if you got rich in real estate. The question I'm asking is how would you know that you were rich? Would you just wake up one day and say "I'm rich"? What would cause that to happen?
How would you know that you were rich? (please spare us the "if you've got your health and family" nonsense - that's nice, but it's not rich)!
Mike
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#2 Off Topic Contributor
- Real Estate Investor
- the villages, FL
I think it was Buffet or Getty that said if you know what you're worth, you're not worth much!!! One of my first brokers in 1972 told me his goal was to be a million dollars in debt. That was nearly 40 years ago. He figured if he found someone to loan him that much he could get rich off it. My wife and I set the goal to personally buy 1000 homes. We reached that last year. We have sold hundreds of them over the years to get ahead and set up a legacy for our grand kids and future generations.
I've been told I'm rich, but most of it is in a trust and it hasn't changed our lifestyle. Rich.