This is the story of a young woman who some 20 years ago read a newspaper article about an investor who made enough money to retire by investing in real estate.
Buying a house had never occurred to her. All she had in savings --- if she stretched it ? was about $10,000. Nevertheless, not to be deterred, she set out to figure out a way to start.
She went to look at houses in Bekeley. Realtors told her to go home and borrow money from her parents (who didn?t happen to have any money either). She took a course in San Francisco in creative financing of real estate. And even though prices were ?skyrocketing? at that point (1978), and banks required 20% down, she ended up buying a duplex with an inlaw in Noe Valley with 10% down. For the first few years, it had a negative cash flow, but she used it as a method of ?forced savings.?
Over the next few years, the house increased in value, she was able to increase rents. She refinanced and bought another house in San Francisco. Over the next two decades, the house went up ? and down ? in value. She?d refinance ? and buy another property. Today, the original $10,000 investment is worth several million dollars ? spread out over several properties. And it provides enough income for her to live off comfortably.
That person is me. And my point is not a hard luck story made good. But rather ? if I can do it, I can show you how to do it. That is, how to build wealth ? and a comfortable retirement ? not through the stock market, or an IRA ? but through real estate.
If you?d like to talk about a strategy for you to build wealth through real estate, call me, or just fill out the form below.