Updated about 12 years ago on . Most recent reply
William Nickerson
I'm a big fan of his strategy of investing. I've also read his book. Does anyone know the back ground of how he developed the pyramiding strategy of buying small income properties adding value through physical improvement and rent increases, then selling the property and taking the proceeds to put as a down payment for a bigger property.
The reason I ask - He wrote his book in 1959 when investing was more "raw" than it is today. Not a lot of material - to my knowledge - was available. Did he have a mentor? Or was he just smart and logically came up with this strategy?
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I have an original copy of the book. The forward states that he saved money, bought a house, then traded up to a duplex, and just kept going. He also says he studied other real estate millionaires. He mentions 'trail and error' as well. Lastly, the book is dedicated to his wife.
Based on that information, I would say he did by doing and as he got more successful, he studied others, but mostly, just saw an opportunity and figured it out as he went along.