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From my experience as a real estate owner and a CPA, it's very possible to get rich in real estate by learning a few truisms: 1. Be disciplined. Never make major decisions that aren't well thought out. 2. You can't be everything, so hire people with experience. When you find good ones, pay them well and pay them fairly. That means employees as well as professionals like attorneys and CPAs. 3. Don't be afraid to act. Too many people have lost too much by acting too late on a buy or sell.

by The CPA Guy

4 weeks ago

Asker's Rating: 

In the long run it is just like the stock market and there are two truisms: 1. Prices tend to fluctuate 2. Buy low sell high.

by CAtransplant- 4 weeks ago

I started young, couple years out of college. The stock brokerage firm I worked for would host conferences in vacation destinations for our best clients. On the golf course with these clients, I'd always ask, what was your best investment, some would say marrying the right women, most would say real estate, fewer would mention some stock. After a couple years of hearing the same answer. I comitted to learning my local re market, inside and out, on a part time basis. At one point I knew, within minutes of a listing being posted, if that was a good buy or not. Now, 15 years later, I'm a full time, successful, re investor. The most important non-family individuals in my life, are my CPA and attorney, my contractor is a close third. The only advice I can give is, you earn your money when you buy right, you get paid when you sell.

by Mike- 4 weeks ago

Please quote source of where you got that 90% of millionaires made their money through real estate. That seems highly inaccurate.

by HEATHER- 4 weeks ago