The short answer is, Yes…The Donald and The Socialist Senator Are Both Right.
We shipped millions of jobs abroad, a lot of them manufacturing jobs that don’t require a college education. In return we got cheaper stuff at Wal-Mart and profits for companies big enough to make things in China and Mexico.
For real estate that means more tenants and less home owners and that is why multi-family properties (small and large apartments) remain one of the smartest investments.
Forget single family homes and fix and flips…
Let me explain.
When I started my real estate investment career I faced the same question and rather than jump right into it I spent some time figuring out what the smartest investors do, one’s that have made a fortune in Real Estate… It also quickly allowed me to see what I was doing wrong.
I realised that by its very nature real estate investing is all about feast or famine.
Either I was making A LOT of money and there were not enough hours in the day to close enough deals and start more or I was struggling to make ends meet and there were not enough hours in the day to find enough deals to keep me going.
This is exactly what I want you to avoid…
I soon I realized that a successful real estate investor makes money irrespective of what the market conditions are.
This also lead me to understand that unless I had set up a way that allowed me to collect the income from rents all year round and took into account a certain amount of downtime in terms of empty properties and the costs of repairs and upgrades and still left me with a profit I would be unable to achieve my dream of total financial independence in the timeframe I wanted.
It was this more than anything which led me to consider at length the possibility of multi-family dwellings.
While the logic to go for multi-family dwellings is undeniable, the biggest fear that most have is the horrifying image of a number of tenants ringing up at midnight on a Friday night with that plumbing problem that urgently needs fixing.
Beginning with the thought that “where there is a will there is a way” I worked on the principle that there has to be a way to set up multiple apartments that will give me residual income and still avoid having to meet a single tenant.
That’s when I realised that getting multiple apartments gave me increased buying power.
Because I have multi-family dwellings instead of single family ones I can easily arrange for professional companies to take care of the details of running them at very competitive rates which allows me to concentrate on what I do best: closing deals and making money.
My road to financial freedom has only been made possible by the fact that I quickly realized the strategy I needed to employ and I worked hard to remove the obstacles it presented me with.
The point is that you can too. Real Estate investment can be rewarding and satisfying and all you need to do is start out with that initial vision and be prepared to work at it.
David Lindahl, also known as the “Apartment King” has been successfully investing in single family homes and apartments for the last eighteen years. He is the author of many popular books and courses including Commercial Investing 101 with a Foreword written by Donald Trump and one of the top Multi Family Investing Courses in America “Apartment House Riches”. He can be reached at www.rementor.com