Do most people really become rich from real estate?
I'm 20 years old and a junior in college, my dad told me that most real estate investors that have become millionaires didn't go to college. How true is this, is it really that easy to get a loan and invest in real estate? I've read 4 books on real estate and attended a few seminars so far in the past 3 months as well as seen a few properties with potential for profit. The concepts seem pretty easy, the only thing I see is that its a lot of hard work. My dad has one rental property and my uncle just got one and it looks quite easy. Don' get me wrong, I know I have to roll up my sleeves and sometimes you may not make a profit for months and that's if you make a profit at all, but I want to know from someone who has experience, given the time and effort, could somebody strike it rich off real estate more easy than other fields? And is it more possible for any person who makes the effort or only few people have that special talent? I would definitely love to work for my self.
Could my parents be secretly rich and not tell me?
This may sound weird but I think my parents are secretly rich? I tell them it would be nice to be rich but they say money doesn't make someone happy. But we have a summer house and we buy extra things. I really am not trying to sound rude! I just kinda wanna know because they say we are not rich but not poor. ( I am really thankfull for all the things I do have!)
What is it like growing up rich? Teens 15-18?
What are your lives like? How much money do you spend? What kind of schools do you attend? How big are your house(s)? What kind of cars do you have? What kind of cloths do you buy, and where? Are you "popular"? Do you tell everyone your rich or keep it on the down-low? Where did your money come from? What is the most expensive thing you own? Where do you live? (Country, State) Will you go to college or live your life as a trust fund child? This is for a research project I'm doing on Privileged teens. You don't have to answer all the questions if you do not feel conferrable and please feel free to add any other information you feel would be necessary. Brag away!
How do I invest in real estate as a 16 year old with 3000 dollars?
At 16 you cannot enter into a legally binding contract. So you can't buy a house without your parent's help. And even with $3k you would at most be able to buy a small condo with a FHA loan...if you can show you can make payments or rent it out. Again, your parents would need to do-sign on the loan. But a more interesting and less cost-heavy option, you may be able to purchase liens on other peoples property You'll have to check with the county and state where you live but any one that owes property taxes or has their property encumbered by a lien that needs to be paid off may be forced to sell theIR interest in the properrt to satisfy that lien. My my first investment in real estate was a lien I purchasse for $1,000 on a piece of land no one wanted. 5 years and $11,000 in additional liens later that I had to pay to clear the ttile I sold that land for over $300,000.In real estate there are no guarantees that you will make money. But as they say "they're not making any more of it". If you buy below market you will generlly do well. Liens allow you to sometimes buy a debtor'e interest for pennies on the dollar. But you have to do your research, check out the properrty and know what you are getting intI before you buy. Best of luck!
How can i convince my parents to buy me the uggs i want?
Just give them like the sad story be like im a good girl and i hardly ask for a lot of things all i want are ugg boots i use to do that to my mom and dad all the time and i use to get it but half the times i was a spoiled rich brat haha .. you can be nice and make them something and clean the house and they will soon see that you are hinting to them that you want UGG boots ... get the tan ones and the black ones they go with everything !