Apprentice

Apprentices have started on the road to building legacy wealth through low-risk apartment investing. Maybe they bought a bigger home and their earlier home became “the rent house.” Many apprentices are accidental landlords. Maybe they’ve inherited a building and realize that they must learn how to manage it well and turn it into more money. Being an accidental landlord or closing on your first property doesn’t make you an apprentice until you’ve tried to do something with it.

You’re an apprentice if you’ve bought and sold more than one investment property and if you’ve upgraded more than one. You may have already learned the important lesson that the money you spend on upgrades is almost wasted unless either the rents go up or the costs go down. That’s the only way that value can increase.

You’re an apprentice if you have some experience as an apartment investor and landlord but don’t have a clear strategy for riding the escalator to wealth that apartment investing can be. I’ll give you the tools to develop a strategy. Here’s your reading roadmap. See the Table of Contents for details.

• Read the Introduction (if you haven’t already).
• Skim The Wealth Escalator and the Your Investment Life Trajectory sections.
• Read the section titled Increase the Odds of Your Success.
• Check out Appendix B, Are You Ready to Invest?
• When you’re ready, team up with a great broker.
• Use this book as a handbook.

When I first began working with Mark and Sharon, they were apprentices. They owned two rentals. Since then, we’ve developed a clear strategy and they’ve moved up, Today, they own more than 60 units. They’ve become journeymen.