"Buy as many homes as you can afford and rent them out".
If one of the world's richest men gives investment advice like that to young individual investors then I believe we should all stand up, pay attention and take our notes carefully. That's true because over the last five years or so, at the very least, considered controversial. Among the thousands of unfortunate families who could not keep up with their mortgage payments. These are the individuals who gobbled up as many residential properties during the good times and had 30 year bank mortgages. When things started to fall apart and their landlords could no longer keep up with their rent and mortgage payments.
"I would buy a couple thousand homes
Now we're talking. Hey said he himself would buy a "couple thousand" homes! There is a saying, "if it sounds too good to be true, it probably is not true" – but what are the words? I am sure many would join at least in my curiosity. And we should at least consider the current real estate in the residential property market, especially in the USA where this mega investor resides. There are at least two states in the US where population growth continues to fuel the demand for residential property and three bed-roomed houses in very good neighborhoods for as little as $ 30,000 at the moment.
"As many as you can afford"
He did not exactly use the word "afforded" and "at the lowest mortgage rates". The "mortgage crisis" as it became notoriously known as a result of too many banks. But I do not have much to worry about "property investors" who today do not even have a place to live in. as safe as houses ". My own modest portfolio of about twenty residential units, are worth a million dollars and at the time of writing, only 20% mortgaged.Immobilienmakler Heidelberg Makler Heidelberg
Source by Trevor W Herbert