How I Made $1 Million Without Using My Own Money
How I Made $1 Million Without Using My Own Money
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The speaker shares how they made a million dollars on an apartment complex without using any of their own money. They purchased the complex for 1.1 million dollars in 2018 using a private lender for the 20% down payment and a bank for the remaining 80%. Over the next few years, they increased the net income of the building by raising rents to 90% of market rate and decreasing expenses by utilizing technology and their team to take better care of tenants for less money. As a result, the building is now worth over two million dollars, and the speaker did not use any of their own money to achieve this.
The speaker shares how they made a million dollars on an apartment complex without using any of thei