In real estate investing we are always taught to think big but are we thinking big enough?
How big are you thinking? For those making an average wage before they got into real estate investing just flipping a few houses and making $20,000 to $100,000 a month can seem like a dream come true. Those already used to making six and seven figures a year can easily scale this to flipping 30 houses a month and make a lot more with the right real estate education and system. There is nothing wrong with flipping $50,000 houses or dealing with $1,000 a month rentals if you are doing a good amount of volume but you can go a lot bigger with your real estate investing business if you want to.
Zillow recently broke the news about Bill Gates renting a home in Wellington, Florida to attend the Winter Equestrian Festival at a tasty $600,000 a month! The 7,352 square foot home sits on 4 acres and comes complete with stables, pool, a fountain, media room and a wine cellar. Still, only valued at $12.99 million the $600,000 a month price tag seems a little high. Even mortgaged to the hilt you have to imagine the owner is clearing an easy $500,000 a month in positive cash flow.
Too big for your real estate investing business? Sacha Baron Cohen, star of Borat and Bruno (not a full time real estate investor), is renting his LA home out for $10,995 a month. There are other investors keeping penthouses in Fort Lauderdale, Florida which are available for rent for $26,000 a month. Though you have to give credit to Richard Branson who offers with private Necker Island for rent at prices starting from a modest $53,000 a night.
Are you thinking big enough?