How to become a property millionaire

Anyone can become a property millionaire if they just follow the basic principles I am going to give you. I developed this system over the past 40 years. Don't be fooled by the simplicity! It's the simple things in life that work.

I bought my first property at the age of 20 and through trial and error over the years developed this system which anyone can use to become very wealthy.

In a short period of 5 years I bought over 250 properties with no money using the basic principles I am going to give you. The good news is, you need very little money, and anyone can do it.

Before I give you the tools on how to do it, you must be disciplined and stick to the rules mentioned below:

• Do the sums
• Control your emotions
• Invest for the long-term
• Keep your risk as low as possible
• Buy only cash flow positive properties
• Take responsibility for your own money
• Stay in total control of your investments
• Only invest in something you totally understand
• Always have enough cash flow and reserves for unexpected events

NOTE: A cash flow positive property is when there is a surplus after all expenses are paid from the rental received.

How to do it:

• Buy a cash flow positive property with the bank's money
• Place a tenant in the property after doing the proper screening checks
• After 20 years you have a property that is fully paid and has beaten inflation.
• You also have an income for life that is beating inflation.

The only way to learn is to buy your first property and do everything yourself. Nobody cares more about your money than you do.

Remember, it's a percentage game. Always look at your investment from a percentage [%] point of view.

So, if you buy a property for 100,000 and put 10,000 down of your own money and sell it a few years later for 150,000 you have made 40,000 because you only out-laid 10,000 which works out to 400% return.

Over the past 40 years I have owned many different businesses and have found property to be the easiest, safest and most rewarding one. Anyone can be a successful property investor and become very wealthy, provided they keep it simple, stick to the basics and most important always stay in control.

P.S. There are more real estate millionaires in the world than any other industry

Article Source: http://EzineArticles.com/?expert=Gordon_Mackay

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