Anyone can invest in real-estate. You just need motivation, legal knowledge of being a landlord and owning properties, and lots of money.
As long as you realise you will be OVER 40 when you get to choose a new lambo or new Ferrari every year.
1st You get your degree in engineering - you then get working for a while saving every single dime you can.
Now you buy a cheap house with at least 3 rooms - and let out 2 of the rooms. You keep working again saving every dime you can.
Now you buy a house and flip it With the proceeds buy another house and let it out. Save the rest.
Keep going until your able to buy 1 house per month.
You can now get as many lambo's or Ferrari;s as you want - but you like most people like me wont want one :D its kinda weird when we are your age we all want one, takes YEARS to build the empire AND WORK - but its the BEST way to do it. But then you find cars like convertible bentleys, daimlers and other prestigious motors like the jaguar f-type are far more luxurious and comfortable - and at 40 you appreciate things like that.
It takes years because your hurdle is not to actually get finance - working building up the initial deposit and renting will quickly put you into the right financial position to get credit easily - it takes time because you have to learn everything and take serious breaks in order for the empire to recover or it could with low occupancy end up repo'd by the bank - people have lost 200 HOUSES! real estate is a great investment with a 10-12% return on average - but unless you reduce debts quickly it can even when working drag you into bankruptcy VERY quickly.
Timescale:
35,000$ houses take about 12 years of full RENTAL to pay for themselves.
At the start you will be only buying 1 house every 2.5 years and allowing rents to reduce the debt before you buy another until you have enough rents that you do not need a loan. At which point you can expand rapidly.
From experience first 15 YEARS you will be IN DEBT. After 15 years no debt, and high income. (aged around 36) A house every month from 36-40 and an empire of approx 70 houses monthly income from rentals 21,000$ (YES that is PER MONTH NET NOT GROSS)
Which gives a $210,000 a year (if you spend 40k on whatever you want, and your work wages) for a new ferrari each year.
By the time you are 50 you should be buying 1 house EVERY month, $57,000 a month income.
STRICT RULES:
Only EVER have 1 personal debt
Only ever have 1 business debt
CLEAR ALL DEBT AS QUICKLY AS YOU CAN
BUILD RESERVES TO COVER losing a house
GET INSURANCE
JOIN LANDLORD FORUMS
BUY ONLY FORCLOSURES TO BEGIN WITH - for some strange reason from experience i have found the easiest houses to let tend to be forclosures as they tend to be where people want to live, the most difficult are condo's and run down areas.
I was looking on getting a degree on engineering and I was wondering if a petroleum engineer invest in real estate and eventually afford a Ferrari or lambo?
