Unlocking the Secrets to Ascending the Ladder of Real Estate Wealth and Millionaire Status

Want to become a real estate millionaire or mogul? The good news is, it’s possible with the right approach. While real estate has produced many billionaires, reaching millionaire status is much more achievable for the everyday person.

Firstly, let’s clear up our terms: a real estate mogul, or tycoon, is someone who’s amassed substantial wealth through real estate. They generally own multiple income-generating properties like rental properties or commercial estates. Many started with just one investment property, reinvesting the profits to gradually build up a huge property portfolio.

The traditional way to invest in real estate is owning rental homes, apartment complexes, and office buildings. However, this usually requires large capital upfront and effort to manage. Luckily, today’s technology provides an alternative: real estate crowdfunding.

With real estate crowdfunding, you can invest in large real estate projects without worrying about tenant issues or direct property management. The best part? You can start with as little as $10.

There are a number of different platforms that offer this service, catering to both accredited and non-accredited investors, including Fundrise, RealtyMogul, CrowdStreet, EquityMultiple, Cadre, Groundfloor, Arrived, AcreTrader, FarmTogether, and REITs.

For accredited investors – those who earn individual income of $200,000 per year, or $300,000 combined if married, or have net worth exceeding $1 million excluding primary residence – platforms like CrowdStreet, EquityMultiple, AcreTrader, and FarmTogether provide specialized and diversified investments.

Non-accredited funds, like Fundrise, are extremely beginner-friendly and allow you to invest in numerous types of properties. Groundfloor is unique in offering short-term investments for house flips, ideal if you prefer quicker returns.

Another interesting platform is Arrived, which allows investors to purchase shares of individual rental homes. Investors receive quarterly returns based on rental income with no responsibilities for managing or maintaining the property.

An easy way to start is with a Real Estate Investment Trust (REIT). You can buy or sell these publicly-traded trusts just like stocks, giving you instant diversification and reducing risk.

There’s no guaranteed path to becoming a real estate millionaire or mogul, it takes time, effort, and discipline. But, starting with a passive investment through real estate crowdfunding platforms can be an excellent way to begin earning from real estate.