Mike Albert, Real Estate SEO Consultant (Being a Realtor)

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Rainmaker
903,457
Candice A. Donofrio
Next Wave RE Investments LLC Bullhead City AZ Commercial RE Broker - Fort Mohave, AZ
928-201-4BHC (4242) call/text

How well capitalized are you to start with?
How comprehensive is your market knowledge of the area that you're investing in?
How well-versed are you at investment financial analysis?
How comprehensive is your investment plan?
How good/ reliable is your team of vendors?
Having said all that, real estate has never been in instant fast track to wealth. It's not an in-the-moment thing. It's a process.

Jul 18, 2017 09:05 AM
Rainmaker
4,089,185
Richard Weeks
Dallas, TX
REALTOR®, Broker

Too many variables and moving parts to answer you question (IMHO).

Jul 18, 2017 07:52 AM
Rainmaker
1,956,855
Anthony Acosta - ALLATLANTACONDOS.COM
Harry Norman, REALTORS® - Atlanta, GA
Associate Broker

Not fast enough Mike.

Jul 18, 2017 07:52 AM
Rainmaker
5,572,164
Barbara Todaro
RE/MAX Executive Realty - Retired - Franklin, MA
Previously Affiliated with The Todaro Team

if you buy it right and during the bottom of the market, you'll make a score faster than if you bought it at the peak for top dollar....

Jul 18, 2017 08:10 AM
Ambassador
2,576,447
Fred Griffin Florida Real Estate
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

  Not as fast as those bull shooters on HGTV would have you believe.

Jul 18, 2017 07:42 AM
Rainmaker
1,253,910
Thomas J. Nelson, REALTOR ® e-Pro CRS RCS-D Vets
Big Block Realty 858.232.8722 - La Jolla, CA
& Host of Postcards From Success Podcast

The fastest way to make a million dollars in real estate with no experience is to invest 2 million dollars in real estate; you'll be down to a million in no time. 

Jul 18, 2017 09:04 PM
Rainmaker
652,449
Tony Lewis
Summit Real Estate Group - Valencia, CA
Summit Real Estate Santa Clarita & Aliso Viejo

Here in California it can happen almost overnight for someone that bought a few of them at the bottom of the market.

Jul 18, 2017 04:05 PM
Rainmaker
1,707,423
Joe Pryor
The Virtual Real Estate Team - Oklahoma City, OK
REALTOR® - Oklahoma Investment Properties

I haven't measured the time but multi is more like it.

Jul 18, 2017 07:23 AM
Ambassador
4,308,090
Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
The right Charlotte REALTOR!

I have friends/clients who are doing quite well accumulating wealth with their investment property purchases. You have to have a plan and understanding of the market and your financial goals.

Seek advice from Joe Pryor as he is an investor guru and has his finger on the pulse of the investment protocol.

Jul 18, 2017 08:43 PM
Ambassador
5,461,721
Bob Crane
Woodland Management Service / Woodland Real Estate, EXP - Stevens Point, WI
Forestland Experts! 715-204-9671

Sometimes people lose their savings on rentals.

Jul 18, 2017 07:43 PM
Ambassador
3,986,760
Debbie Reynolds, C21 Platinum Properties
Platinum Properties- (931)771-9070 - Clarksville, TN
The Dedicated Clarksville TN Realtor-(931)320-6730

It depends how well funded you are and how high rents and vacancy rates are. If you do it right you can build lots of personal wealth but it is work.

Jul 18, 2017 05:47 PM
Rainmaker
564,096
Lynnea Miller
Bend Premier Real Estate - Bend, OR
Premier Real Estate Service in Central Oregon

No easy answer here as so much depends on what you paid for the property, what you can rent the properties for, how much your market is growing, do you have a decent manager, any issues with finding good tenants, many, many other things to determine. 

Jul 18, 2017 12:08 PM
Rainmaker
1,394,169
Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

Took me 2 years.  Had to buy two properties, both worth over 500k (not much out here under that).  Boom, done.  Just don't look at the mortgage.

Jul 18, 2017 10:50 AM
Rainmaker
527,095
Dave Halpern
Keller Williams Realty Louisville East (502) 664-7827 - Louisville, KY
Louisville Short Sale Expert

It depends if a housing crash and a recession pull the rug out from under you in the middle.

Jul 18, 2017 09:56 AM
Rainmaker
1,462,627
Michael Setunsky
Woodbridge, VA
Your Commercial Real Estate Link to Northern VA

Mike Albert I can't add anything to what Candice A. Donofrio has said.

Jul 18, 2017 09:18 AM
Rainmaker
4,264,901
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Buy low, sell high, get top rent and hope for inflation!

Jul 18, 2017 08:05 AM
Rainmaker
5,647,824
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Mike,

There were books written about that in the past. And I agree with Richard Weeks 

Jul 18, 2017 08:00 AM
Rainmaker
598,769
Nathan Gesner
American West Realty and Management - Cody, WY
Broker / Property Manager

Thomas J. Nelson, Realtor,CRS,e-Pro already beat me to the punchline so I'll give a serious answer. Building wealth is a long-term goal. It can be done quicker with real estate than most other vehicles but it still requires time, patience, wise purchases, and persistence. Anyone that says you can get rich quick is selling you something because quick riches only happen through luck, not wise investing.

Aug 17, 2017 06:23 AM
Rainmaker
673,446
Abby Stiller
REMAX Realty Group - Cape Coral, FL
Professional Bilingual Realtor (239) 284-8637

Totally agree with Richard Weeks 

Jul 20, 2017 09:14 AM
Rainmaker
923,223
Jennifer Mackay
Counts Real Estate Group, Inc. - Panama City, FL
Your Bay County Florida Realtor 850.774.6582

If you buy a rental property for a million dollars, you are a millionaire

Jul 19, 2017 08:26 AM
Ambassador
3,081,624
Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate

What Candice A. Donofrio said. It ruly depends on the market one is investing in.  And as we have seen in recent past ... those millions can easily fade away in a downturn.

Jul 19, 2017 06:18 AM
Rainmaker
853,105
Jeff Pearl
RE/MAX Distinctive / LIC in VA - Lovettsville, VA
Full Service Full Time Realtor

It's not a get rich quick scenario.

Jul 19, 2017 05:11 AM
Rainmaker
3,070,134
Tony and Suzanne Marriott, Associate Brokers
Serving the Greater Phoenix and Scottsdale Metropolitan Area - Scottsdale, AZ
Haven Express @ Keller Williams Arizona Realty

Candice A. Donofrio nailed this one!

Jul 19, 2017 05:04 AM
Rainmaker
3,985,922
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

The more you have and  try the more times issues will come up

Jul 18, 2017 06:26 PM
Rainmaker
1,525,355
Sybil Campbell
Fernandina Beach, FL
Referral Agent Amelia Island Florida

I agree with Richard Weeks.

Jul 18, 2017 05:21 PM
Ambassador
1,616,354
Harry F. D'Elia III
RentVest - Phoenix, AZ
Investor , Mentor, GRI, Radio, CIPS, REOs, ABR

depends on the investor

Jul 18, 2017 02:37 PM
Rainmaker
6,673,458
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Blog about your success.

Jul 18, 2017 12:49 PM
Rainmaker
2,029,630
Michael J. Perry
KW Elite - Lancaster, PA
Lancaster, PA Relo Specialist

Net Worth of $1,ooo,ooo ?

Jul 18, 2017 09:57 AM
Rainmaker
1,157,737
Sam Shueh
(408) 425-1601 - San Jose, CA
mba, cdpe, reopro, pe

Timing is crucial. It is a long term committment.

Jul 18, 2017 09:45 AM
Rainmaker
1,644,357
Sandy Padula and Norm Padula, JD, GRI
HomeSmart Realty West - Carlsbad, CA
Presence, Persistence & Perseverance

As Richard Weeks wrote.

Jul 18, 2017 09:24 AM
Rainmaker
4,176,866
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

I have no idea... what do you think?

Jul 18, 2017 09:14 AM
Rainmaker
2,648,422
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

Investment properties are a proven well know guaranteed retirement strategy. Becoming a millionaire naturally follows. Enjoy the journey instead

Jul 18, 2017 08:41 AM
Rainmaker
4,433,753
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

Depends.

Jul 20, 2017 09:03 AM
Rainmaker
4,799,601
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

It's all up to you.

Jul 19, 2017 05:34 AM
Rainmaker
1,526,956
Inna Ivchenko
Barcode Properties - Encino, CA
Realtor® • GRI • HAFA • PSC Calabasas CA

Depends how many you have and if you are the owner of them or not:) 

Jul 18, 2017 10:36 PM
Ambassador
4,314,288
Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Mike Albert - timing is everything. If you strike it hot, there is no looking back!

Good luck.

Jul 18, 2017 10:29 PM