Originally published in Entrepreneur
By Joe Edgar
Over the last 50 years, home prices in the U.S. have increased by more than 5% annually on average, according to the National Association of Realtors. This means that the $200,000 home you buy today could be worth more $864,000 in 30 years when your mortgage is paid off.
It’s no surprise that real estate is considered such an effective way to build wealth.
But few actually take full advantage of the opportunity at hand. Based on the National Association of Realtors report, the average homeowner only sells their house every 10 years, though they are allowed tax-free capital gains every two years. Instead of expanding their real estate holdings and experiencing that 5% growth, they settle for the standard single-home approach, thinking much more is too complex and time-consuming.
But making your first million in real estate is possible as a real estate entrepreneur and simpler than you think, provided you follow the proven roadmap laid down by countless real estate investors before you.
Read the full article at Entrepreneur.
Joe Edgar is CEO of TenantCloud.