According to Grant Cordone, a Business Insider contributor,multi-family real estate investments have worked out great for him.
In my opinion, real estate is the best way to grow wealth. If you want to get super rich, get involved in real estate — but I'm not talking about just any real estate.
I recently wrote an article that explained why buying a house is for suckers. A home is not an investment, because it doesn't pay you each month — you have to pay it.
It's a liability to me, not an asset. Not only does a house leave you less mobile, it ties up your money so you can't use it for real assets.
There are many indications that multi-family apartment investments will continue to be great:
*75 million Baby Boomers are headed into retirement
*Many of today's apartment complexes may be converted to retirement communities in the future
*Many millennials aren't buying homes
*It's getting more expensive to build new apartment units
Your initial challenge is getting a down payment. Once you do, it's easier to get a loan on a multi-family unit than any other piece of real estate. Multi-family is the easiest way to get rich once you're in the game. I can go online today and find a 49-unit property priced at $35,000 per unit with an 8% cap (the return on investment based on the income a property is projected to create) for $1,750,000.
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