Pay attention real estate students! This is an important lesson regarding how to best maximize your investments.
How do you get started in property ownership? I started with a house. I convinced my wife not go on a fancy honeymoon, but instead invest that extra money in a home renovation. From there, we refinanced with the added value and built out additional living space in the attic. The elimination of PMI kept allowed us to take out additional equity while keeping our payments about the same. Again, taking the growth in value, we increased more and added a two car garage with two bedrooms and a bath above. We took a $230k house and progressively increased the value to $600k with a 50/50 debt to equity ratio over the increase. That added equity allowed us to buy a rental house, which turned into another, and then townhomes, and ultimately commercial properties. It's easier than ever to buy real estate. Whether you start small or start big, the key to owning real estate is to start with wherever you are in life. And if you need financing for a commercial property go to Gumption for the easiest process!