Building real estate portfolio

>10-20% down
>buy
>rent it out
>let renter pay your mortgage + cashflow
>save up for another down payment
>repeat
>live way below your means and supplement mortgage payments paid by renters with your own cash to expedite the process
Is this doable if you have a high 5-6 figure income?

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>10-20% down
Lul what try 30-40% with a first time home owners loan

you tell em rich dad

What about when something like corona happens and your tennants can't pay rent

uor buy now stupid round eye make me rich

This sounds like a lot of work especially if you’re working on the side
The only person I’ve ever known to get real estate shit to work who didn’t literally start in 2008 is a guy who lives with his parents anyways.

Implying I have the money to buy a place

>Is this doable if you have a high 5-6 figure income?
No, you need a 2 figure income to do this sorry user

I recently read this book whilst travelling and having seen it mentioned on biz. Does anyone take this mentally ill chink seriously? This is the ultimate meme book, full of anecdotal evidence, vague semi-illegal advice and survivorship bias. If you take any of his ramblings serious you deserve to lose your money (just like he did ironically).

well now that it happened it's not probable it's gonna happen again in our lifetimes

we literally had SARS in 2002-2004. there's NOTHING stopping it from happening at any time.

its all fun and games until tenants decide to stop paying rent

>Buy stonks
>Collect dividends
>Sell stonk options
>Reinvest dividends and money from options into new stonks
>No worries about tenant not paying rent
>No worries about upkeep of shitty property

See
Make sure you have enough income to cover the mortgage in the event of this. Buying to rent should be for cash buyers only really, most are over leveraged with multiple mortgages.

yep

>paying money for a second job that doesn't pay you until 10-15 years and even potentially cost you more money.

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Rich dad
>poor son

Yes it is doable, but not for people who do not have experience or mentor in the game.

Real estate has way, way more tax advantages than stocks. You can also force appreciation with directly owned real estate by making improvements. Own stocks by all means, but real estate is easier to leverage into rapid wealth growth.

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It's round two in China, and our shield-arm is shaking it's so tired.

op book is fluffy trash

image related is top tier concrete information

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Being a small time landlord is a fucking nightmare, those retarded tenants will constantly have problems AND as a bonus their neighbors will also have problems with them because they're retarded. And you'll be there every fucking week to solve their retarded problems, often by throwing your own money at them. It's a lot of work and it's not that profitable.

His points are too vague but not a waste of time to read. Want to make money by renting? Don’t finance the rental property. Immediately invest profits into dividend stocks. Use dividends as extra income and be prepared for a renter that can’t pay by having an emergency fund. Air B&B takes some of the risk out of renting. Your tenants are less permanent.

>be me
>buy house for 25k
>borrow money from rich person to flip it
>do the work myself
>put in 70k
>sell for 180k

It’s doable, boys, but you’ll never do it if you don’t try.

If you're a renter worried about not being able to pay rent, here's some advice: just rely on your savings. Tap into that rainy day fund. Borrow money off your parents. Sell your iPhone. You really should have planned ahead for something like this.

It's not too late to go back to school to learn a trade, either. Apply yourself. Print some resumes and hand them out.

You

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High IQ.

Please read a fucking book brainletboi

I had always thought he made his money selling books and seminars

Based Sowell