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Be born into a rich family
I’ll circle back around to this thread in 25 years and let you know how I did it.
What IRR will you have to achieve over the next 25 years to get there?
50% IRR consistently for 25 years
You have to start somewhere. How do you become a millionaire?
Start with $2 million and buy a boat.
Pretty straight forward really, just need time and understanding of data. The rest is a cakewalk, meaning getting capital, finding tenants, finding contractors etc.
marry ivanka
Honestly not that far off. Can you help me with step 1 though
Hmm... Actually step 1 is probably easier done in tech as well
“Buy it. Fix it. Sell it.” - Jon Gray
I’m going to buy a large a amount of land in California and spend my life developing it.
Yes, you are right & I also think that people have strong desires.
This is the best response in this thread
Really the only way to make a billy in RE is by building cities/land speculation a la Donald Bren. Or be Jonathan Gray.
Network with rich people, start with fee only acquisitions until you have enough to GP, 1031 exchange all cap gains, depreciate heavily on assets, hope you buy assets in high growth areas? It'd be lottery lucky really
This aged terribly.
And the people who put their $5mm in real estate will see it continue to appreciate.
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