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Actually the commercial market is getting hit hard with vacancies, they are 22% all time high out here. in early 90's they went though a really bad slump. Real estate always can slow down a little but there is way more to it than that. buy houses cheap and buy houses for the long term. Too much to actually talk about in this post.
Dirty your grandpa is doing well, but that's not normal for the average person to own government buildings and lease to the state.
I know people every few days that constantly buy $140,000 houses for $80,000. They make $50,000 in 1 week worth of work.
I can name many people doing it and they are young and old.
Do this math
5 houses $200,000 each. =$1 million
Rent them all out
I have seen a hot market out here 15% in fast growing cities
I"ll just say 7% for the example.
$1 million worth of properties appreciates making you $70,000
a year in appreciation, plus like $25,000 in write-offs, you cashflow probaby $15,000 per year with the rents, they pay down the loan some, you buy each house like $10,000 under value easy to do. You can see how just sitting on your ass you are up near $75,000 per year up to $100,000 per year.
Anyways, real estate has gone up 5% on average for over 100 years.
Go buy 5 homes near no money down or 5% on a couple
that's $1 million, rent them out.
7% appreciation per year
100% divided by 7%= about 15 years
There you go if the market even slows down a lot
you still will double the $1 million within 15 years
even if you dn't buy more. If you sit on your ass within
15 years you are going to be a millionaire.
"95% of all people that become millionaires did it from real estate"
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