A real estate investor who got started at age 38 explains how he built a 16-unit portfolio worth $2.7 million in just 4 years by adopting a compound growth mindset
the first home that he and his wife bought in Charleston — a method he especially recommends to beginning investors.
Rivers estimated that the property currently brings in $3,800 a month, versus a monthly mortgage payment of just under $2,000. "The one I have is in the lakes. When I looked at it, there were five Airbnbs in that area — there wasn't a lot of inventory there," he explained. In addition to his portfolio of residential and commercial properties, real estate syndications also make up a significant portion of Rivers' assets, and he has around $1 million invested with various groups.
Although most syndications are usually reserved for accredited investors and have a high cost of entry, Rivers was able to join his first syndication in 2019 with a $50,000 initial investment by networking with investors at a local meetup in Charleston. Rivers said he earned payments of around $300 per month until the fund was sold a year and a half later, when he received $76,000 back — bringing his total profit to over $30,000.
"I'm not just willing to just give money to someone because maybe the upside looks great, but what about the downside?" Rivers explained."I'm not willing to do high reward, high risk because if I do that and I lose a hundred grand, it's going to take so much longer to compound that loss. I'd rather make smaller amounts of money, but just keep compounding that."In fact, Rivers credits much of his real estate investing success to this compound growth mindset.
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