You Can Be the Next Millionaire Landlord

Download or read book You Can Be the Next Millionaire Landlord written by Mark Rosenfeld and published by . This book was released on 2013-08-18 with total page 104 pages. Available in PDF, EPUB and Kindle. Book excerpt: Many of the richest people in the world are landlords. Would you like to be one too? This book will help the reader to learn about the process of buying and managing commercial multifamily properties (apartment buildings). This may seem like a daunting thing, and I suppose it is when it's a new idea. Before I bought my first building, and was admittedly a little scared, I remember driving up the West Side Highway in New York and thinking, "Look at all those apartment buildings, someone owns every one of those, so surely I can own one too." Start small, build your portfolio, hopefully someday you will retire rich, and You Can Be The Next Millionaire Landlord!Why Real Estate?In 2004, there were 8.9 Million Millionaires in US, more than at any other time before. So how did these people make their money? The following statistics suggest that a majority of them made it by buying income producing property:*44% of "Rich Households," those with $750,000 in assets and $200,000 in income own Real Estate other than 1st or 2nd homes!!!*75% of "Super Rich Households," those with $10,000,000 in assets & $2,000,000 in income own Real Estate other than 1st or 2nd homes!!!"Real Estate other than 1st or 2nd homes," means investment property, which is usually of the income producing variety: rental property.Overall 46% of millionaire households own investment real estate, according to CNNMoney.com.