All Forum Posts by: Terra Padgett

Quote from @Alessandro Di Luciano:

To give a quick not thought through response...All things being equal (from effort to cash flow) Give me 20 properties. This gives me the ability to sell a single property should I need to free up some cash, also the diversification of location gives some freedom to exit a declining market.

what about you?

I’m torn with this one. I see pros and cons to both. Agree with your assessment with diversification and ability to exit. Also a spread of risk with properties likely being in different areas. But then a Multifamily would be way easier to manage at one location. You could also control and drive prices for the property with more doors in a single area and the valuation. One transaction, one loan, one tax bill, etc as opposed to multiples. But again, I’m torn as I see benefits and challenges with both so really I’m undecided on what I would definitively choose. 

Quote from @Dan H.:

Quote from @Terra Padgett:

Quote from @Eric James:

Is this based on some data regarding actual "millionaires" or is this just made up?

Also, what people do with wealth once they have it isn't necessarily how they made it to begin with 

No, it’s not made up. There has been research done on the topic and it’s just a common theme found from analyzing financial habits of wealthy individuals. 

Can you provide the source?  There are a lot of things that people believe is fact but are not.  In sports the belief that the more times you beat a team the better chance the other team has to win.  Statistically this is false even though it is believed by many people.  there are countless other samples.

I used to see on this site that investing for cash flow was king.  There were some of us that would point out that statistically that was not true.  Today the sentiment on this site is very different than 5 years ago.

Research from the IRS, the Census Bureau, and studies on self-made millionaires. 7 streams is more of a guideline or general rule per se rather than a strict hard rule for every single millionaire. The key takeaway being that diversifying income is a common trait.

Would you rather own 20 rental properties or invest in one 20 unit apartment? 🤔 

Quote from @Eric James:

Is this based on some data regarding actual "millionaires" or is this just made up?

Also, what people do with wealth once they have it isn't necessarily how they made it to begin with 

No, it’s not made up. There has been research done on the topic and it’s just a common theme found from analyzing financial habits of wealthy individuals. 

@Alessandro Di Luciano 

Your mindset is exactly what's going to get you to your goals. The drive to diversify, scale, network and continuously improve. Keep your focus and you'll certainly achieve.

Happy to talk more and collaborate —whether it’s real estate strategies, investing insights, or creative ways to expand income streams. Cheers 🥂 to your success!

@Robert Ellis Nice! BTR has become more and more popular. I've seen a couple of communities in the Houston area that are built as BTR neighborhoods. 

1. Earned Income – Salary or wages from a job or business.

2. Business Income – Profits from owning a business.

3. Dividend Income – Earnings from stock investments.

4. Interest Income – Earnings from savings, bonds, or lending capital.

5. Rental Income – Profits from real estate investments.

6. Capital Gains – Money from selling assets like stocks, real estate, or businesses.

7. Royalties or Licensing Income – Earnings from intellectual property, books, patents, or franchises.

A key takeaway: Diversify. Having eggs in multiple baskets 🪺
How many different income streams are you building?

Which ones? 

Rent 1 or 2 homes and AirBNB it for 2-3 years. 
Don’t know what your definition of “quick” is, but plan to invest for the long run to make any serious returns. 

Quote from @Alessandro Di Luciano:

First Buy My Tickets for BPCON and the Flight Out!

😄 are the tickets that expensive?

Quote from @Account Closed:

Quote from @Terra Padgett:

If I had $1M to invest in real estate, I would ______.

Invest in NNN retail.

👍🏽 Retail has surprisingly maintained pretty strong throughout and post pandemic and with the continued growth of online shopping.