If you were a real estate tycoon, then we have good news: You can make $50 a day selling houses.
This all sounds great – the best job of your existence – until you realize that it is possible to make $50 a day selling houses.
In fact, according to The Wall Street Journal, you can buy a $250,000 house (with 3 million square feet) for $1,000,000. That’s the price tag for four months rent. You could spend a year looking through the various houses and taking the best features from each.
You would be selling one home a week, and making $5,000 a day from it. Your money would almost double. But you wouldn’t have a clue where the money went.
This is where real estate investing comes in.
Real estate investing refers to buying real estate in order to turn a profit – that is, build a profit for yourself.
The key thing to understand in this space is that real estate investing is a two-legged stool. For real estate investing to happen, other people have to buy up your houses.
You can’t get a million people to buy yours at a price that you’re willing to pay.
A few key things to know before you go any further:
If you buy real estate with a low mortgage, you’ll earn $7,500 a month.
If you purchase real estate that has a low risk mortgage, it is possible to earn $30,000 a year in rental income because there’s a lower risk of default.
If you sell your home for more money than you paid for it, you may make over $500,000 in rent.
All told, it takes a lot of money and years of hard work to get into an investment account – let alone one that actually produces good results. If you want to do it for $50 a day, you’ll have plenty of time to do some research and choose your real estate investment carefully.
Why Invest in Real Estate?
In his book, The 7 Habits of Highly Successful People, Tony Hsieh discusses real estate investment and the different types of people who invest in it.
He quotes a quote from George A. Herr, who says that if you like cars, make money out of car prices. If you like furniture, make money out of high house prices. If you like cars and furniture, make
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