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A good friend of mine created her fortune on rental properties. She owns a couple of apartment complexes now but it all started with a duplex and she rented the unit next door.
However, she hacked the system pretty early by getting her real estate license, married a construction contractor who can do maintenance at cost and has a brother thats a finance accountant so he can do the financing. So basically this property empire is a family business now.
Her advice has been to be diligent about book keeping on each property so you know where the money's coming and going. Watch your real estate trends, screen tenants thoroughly and keep a lawyer on retainer and insure your properties well. To do it right it's definitely a full time job.
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