“In the long run, men hit only what they aim at.”  ~ Henry David Thoreau

I’ve seen this concept work numerous times in my career. It’s not easy, will require endurance, and may leave you disillusioned with your fellow man. That aside, it works. The concept is simple. Slowly purchase $1,000,000 worth of residential real estate. Place it on a reasonable amortization. In 10 to 20 years, your tenants will have paid off your property for you. 

Assuming you have purchased wisely and kept your property in good repair, you now have become a millionaire. This is about as predictable as it gets in this life and can work for Joe-average. No guarantee but highly likely to work. A simple concept like using debt to build wealth opens up a world of opportunities.

Your million dollars worth of purchases should be a slow process over a period of years. You’ll prove yourself, your abilities, and likely be given additional loans until you reach your goal. Remember a bank is in business to loan money as long as those loans are paid as agreed. Go slow, learn the business, and remember that when leverage (debt) works for you, it works very well – but when it turns on you, it will cut fast and deep. Building wealth for your future and your family’s future is part of “getting a life.”

“Your present circumstances don’t determine where you can go; they merely determine where you start.”  ~ Nido Qubein