ilmscore | Prediction Details
"I saved up $5,000 every single cent that I had. I saved up because I didn't want to be I didn't want to have this lifestyle for myself I wanted to save it and sidenote this guy owns a hotel and 123 rentals he's doing pretty well and he said so I saved up my money and I went to an auction I bought the dumb piest crappiest house it took me 1 or 2 years a couple years to save up $5,000 and we're talking in the early 90s so $5,000 was a little bit more than you know it's worth a little bit more back then but still wasn't anything great and he said I saved up $5,000 and I bought the dumb piest house in the dumb piest neighborhood and he rattled off the address of the house and it's next to some of mine and it's a it was a terrible house a terrible neighborhood but he saved up five thousand dollars and he bought it and for the next six months he worked on it and he said at after that point I put a tenant in it and I rented it out for $400 in the first year I was almost able to repay my entire investment I had to keep throwing the money that I was saving into rehab but I still got it done that was like 90 or 91 that he bought his first rental property then the next year I cash out refinance the property he took that property to a bank asked them to loan him money they gave him like ten or fifteen thousand dollars he went out and bought two more rentals so it took him another year and after two or three years he had three rentals and then he said at that point I was making about $1,200 or so per month and rental income"
By Investment Joy | August 10, 2020 | Pending
From video
How you can find investors and mentors for your business ideas 00:10:04 - 00:11:38
Interpreted Prediction
A successful real estate investor started by saving $5,000 to buy a dilapidated house in the early 1990s, renovated it over six months, rented it out for $400/month, and within a few years, leveraged that to own three rentals generating $1,200/month. This strategy involves starting with small savings, buying distressed properties, and reinvesting profits for growth.

Prediction Details

Topic
Real Estate Investment Strategy

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