I think the most reliable method to make it millionaire is by Real Estate Investing. Below are the 5 Foundations to Becoming a Millionaire in Real Estate.

1. One thing that get measured is better

I believe this is among the most fundamental elements to success. The first step in knowing what you want to achieve is to understand the current situation. Therefore, sit down, open out a spreadsheet and make your own personal financial statement or net worth Tracker. Note down all your assets and obligations. Do this each month throughout the rest of your life. I am sure that your portfolio will grow since you’re taking a look at it every month. Don’t miss a month, and do it regularly at the beginning of each month. The data that is measured improves.

Each month doesn’t have to be a massive, deep investigation of all your real estate portfolios and stock portfolios. However, I suggest doing it that you do a quarterly or biannual examine each asset to examine how it is doing. Are you looking to sell or refinance the property that you have? Which asset class, type or area performs the most effectively for you? Check out the months that have seen the most growth of your wealth. Then ask yourself what I did in this particular month (or the months preceding until this month) to achieve this huge increase in my net worth. Keep going with those actions! What’s fun to look at after you’ve got some rental properties is to check how much principal is reduced each month. As of right now, all my loans together I’m paying off $930,000 in debt which is equivalent to roughly $1200 per month in principal payment. It’s amazing to see your net worth growing passively each month thanks to my tenants! The best part is that the majority the loans I have are still in the beginning phases of their maturation which means that each month the principal amount of paydown increases.

2. Investor Mindset, Why do you want to be doing this? Where do you plan to go?

There are a variety of psychological books and articles about this subject, but you must make an idea for yourself. Make a list of your goals for the coming 10 years. Then break it down into smaller pieces, such as 3 years, 1 year one month, the week following, and today. Every day, you get up and think about your future goals, and reduce it to the present. What should I do today to get myself one step closer to something? Don’t go on past this day, as it could be too overwhelming. Each year, you will be able to change your perspective and make adjustments, but not frequently as you could become overwhelmed by analysis as well as shiny object-titus. Create a clear and precise idea of what you would like your life to be like in the near future. I made a vision board using pictures that helped me focus on my vision for the future. You must really emotionally connect to your goals. If you don’t feel the desire to pursue it, then you have to do more work on or isn’t for you. In order to achieve this desire, I’d recommend studying “Think and Grow Rich” and “The Four Spiritual Laws of Prosperity”.

Write down the way your life will look in the event that you reach your goals. Imagine the future you envision in your head and it will happen. Consider the challenges that are coming in front of you as a thrilling game to win. Think of the challenges you face as in-building blocks to the next stage ahead. Develop a mindset of abundance that there’s plenty of assistance, money and resources at your disposal. You are abounding with possibility and power. Write down what you’ll miss out on if you don’t meet your objectives. Find a way to make use of your emotions to guide you towards a life that is filled with enthusiasm for what your doing and for where you’re heading.

3. Write down every resource you have

Are there any strengths or weaknesses, as well as opportunities and threats that you face to accomplish these goals? Create a list of the amount of money available in retirement accounts, bank accounts and capital in the Real Estate Market, or other assets. You must then think beyond the financial resources available to you and think about and determine the amount of time and knowledge, connections credit and creative capabilities that you have. What I consider to be more valuable than anything else is your energy, knowledge and relationships. Take a look at the things you know and how you can use it to be beneficial to others. What is the value you can add to others? If you’re not able to add worth yet, find out what you can study or take action to achieve the value. Make a list of all wholesalers, lenders, agents and rehabbed, as well as other investors with experience you have and stay in touch with them.

4 Get educated and build a network.

When I started out, I had only a small amount of money, however I was able to start learning and attending REIA’s and meetings. I would observe others who were making deals and have them share with me the figures on the deals they had done. I would keep track of their deals to identify what a deal looked like as I observed it. The average is five people who you have the greatest time with, therefore I consciously spent time with those who were at a level I hoped to reach. I established relationships with people whom I felt that we both could greatly benefit by learning from one another. It is now a must to never play music on the road or commute to work until you’re a millionaire. It is essential to listen to a variety of podcasts that cover areas you would like to improve in. Furthermore, it is recommended to read a monthly book and implementing the concepts that you have learned.

5. Take massively imperfectly executed action

Inform everyone about what you’re doing and what you’d like to accomplish. In the event that you have faith in God or some other god, you should tell Him every night what you would like and seek advice and guidance. I am convinced that if you repeatedly ask for you will ultimately receive exactly what you’re looking for. This is why knowing the things you’d like to get in the second section is crucial to complete. Make offers and study the deals. You can make mistakes and cause a resentment to someone who you made them offer way lower than they could afford. Make sure you get the first sale done. It’s the most significant obstacle to success.