The TV happened to be on one of these homestyle programs and I saw a person declare their desire to build a massive portfolio of properties within a year period. For this I will say the number was over 10.
I couldn’t help it, but I started laughing out loud uncontrollably. Maybe one of those things you had to be there for! Maybe in my younger days, I would have had that optimism. But now that naivety has become more realistic.
The question I would pose to such a person is why set more than 10 properties? Why not 100? Or 1,000? In my honest opinion, they are all the same number. See the person that posed this question wasn’t a high earning executive. They were a simple everyday worker on an everyday salary.
If you are not a builder, on an everyday salary then you need to be realistic with your expectations. It’s fantastic to have goals. To take action and make investing a priority. But we should also be realistic with our goals, otherwise they are just meaningless.
What does wanting more than 10 properties within a year actually mean? Are they average properties in the middle of nowhere for $100,000 each? Are these actual high demand properties with values above $500,000 or $1,000,000?
Instead of saying I want to have more than 10 properties within a year. Maybe ask how do I buy one property which will make me money.