Rent Sense: Who wants to be a Millionaire

July 27, 2012by melissad

By Neil Fjellestad & Chris De Marco

We have a great summer read to recommend. It is the title article in the August 2012 issue of Money Magazine. Hey, this is San Diego. We have to question anyone reading too much more than a magazine from time to time. It’s beautiful outside. There are so many places and people to make your acquaintance, so many things to do for pleasure and purpose.

So, the article is “How to Reach $1 Million” This is 12 pages, mostly pictures and factoids that, from an extensive survey among current U.S. millionaires detail the demographics, the attitudes and the behaviors of “members of the million-dollar club” who have beaten the odds (12 to 1 per this survey) to accomplish this American dream. It gets better as it lays out 5 proven strategies or tracks to substantially improve these odds in order to get from where you are to this elusive goal. Not that you have to choose more than one track to run on; just one will do. Each strategy is explained, you are told why it works and how to get it done.

And why are devoting our valuable Rent Sense column promoting a magazine and a subject that needs no help from us? Simply said we will quote from the article that names Real Estate as track #1. “Becoming a landlord has always been a well-worn path to millionaire status with good reason: you can guarantee a second source of income (separate from your employment) and build equity in your investment.”

It goes on to say “owning rental real estate is even more compelling now…..Based on modest estimates for appreciation and reasonable expectations for profits, it’s likely to take three or more properties to produce the cumulative equity and rental earnings you need to get to $1 million down the road.”

Now, look it all over and then get back to enjoying San Diego’s summer. After all, that’s the point of being in the “club”. Making this happen for independent rental owners has been our specialty for more than four decades. Maybe we can help you.

Promote housing opportunities for all persons regardless of race, religion, sex, marital status, ancestry, national origin, color, familial status, or disability (Government Code Section 65583(c)(5)).

San Diego Metro Office
6398 Del Cerro Blvd., Ste 8.
San Diego, CA 92120
(619) 286-7600

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