Edmonton Real Estate Investors Association Message Board › How to make millions....my advice....
(this is an article I wrote to a guy online who was wondering how to make millions of dollars in life)
I liked your article on the Million dollar experiment. I also believe in the law of attraction. And who's to say that you didn't attract the knowledge I'm about to share with you.
I'll try to be brief with this. But if you want to be a millionaire you're definitely on the right track. It all starts in the mind. Believe you are that thing and it will manifest itself.
However, practically speaking you're in a really good position to start making millions of dollars. here's how. And I'm not just telling you this, this is actually how I made my millions. (don't tell anyone I'm the one that told you, just tell them a little bird told you).
What you need to do is create massive leverage. The way to do that is by taking the small amount of leverage you already have, such as you own a business, you have good credit, you probably own a house; and you take it and apply it to a situation in which you can start to deal in the millions. One of the best and safest ways to do that I'm about to share with you...
But first getting back to leverage. If you are able to borrow millions of dollars from a bank, and that investment goes up even ever so slightly you then have made possibly a million or more. So one safe way to do that is to go out and buy apartment buildings with little to nothing down. Allow a bank or banks to lend you millions of dollars. So say you bought 10m dollars worth of apartment units at 50k each (200 units). If those apartments appreciate to $60k each in the next 3 to 5 years, then you've made $2 million net. (so if they go up to $60k in 3 years that's an average of $666,666.00 per year.)
Now you're likely not going to start out at this point. Likely you can start out buying one 20 unit building for say 1m. And keep working your way up. And to work your way up is easy. A little internet searching, a few phone calls, a few fax and emails and you've done a deal. Then do another and another...
But the point is this, you can never earn enough money on your own to become a millionaire. At least not very easily. But it's not hard at all to just borrow millions from a bank on safe secure assets like apartment buildings. Then if they go up even ever so slightly you've instantly made your own million(s). And I'm not just saying this. I've done both of these situations. And to borrow the money and leverage it is infinitely more simple than starting a successful company where you earn every dollar toward your first million. (now that's a lot of work!)
As far as getting started well here's what you do:
Go to ebay and invest in: "Carlton Sheets No Down Payment" ($50 bucks) so that you can learn creative financing. Buy "Dolf Deroos Real estate investors college 13 cd course" ($50 bucks). Study that as well. And join a few real estate investing clubs in your area. That's all you have to do to learn the business. It's like anything, the more you study the more you'll learn about the subject.
Anyway good luck to you.
Extra Foot Note:
Also by far the best way to learn exactly what to do in any area of life is to simply find someone that's done it, and who can show you how. (I cannot even begin to stress this enough). What would you rather do?.... climb Mt Everest using only a book about generalized mountain climbing, "or" would you rather have a professional whose been to the top and back to climb with you and show you the way. It's a no brainer. However, those types of mentors aren't always that easy to find. Sometimes you can meet these types of people at real estate investment clubs and if you strike up a friendship they "might" show you what to do, eventually.
All that being said, I decided to perhaps be willing to show a select few people what I do, and how I do it. So in case you're interested in getting some real estate investment consulting to show you how to buy apartment buildings with little to no money down, I can train you. For details on that go to my website at: www.mshinvestments.com/learn
If you have any questions feel free to contact me, either here, or at my website (www.mshinvestments.com/contact.htm) Good luck and we'll see you at the next meetup group!