A Wealth Formula
Real estate is not a perfect market, but there are usually opportunities to be had and people willing to depart from their properties under market value for a variety of reasons.
I bought my first investment property in 2006. It had a nice cash flow, and it was located in a neighborhood that was quickly developing.
The following year, I refinanced that property to use the equity for a down payment on the next one.
Over the years, I repeated that process over and over, rarely having to use any of my own money as a down payment again.
I’m oversimplifying the process a bit, but what I quickly realized is that it didn’t take a huge number of properties to achieve and exceed my early goals.