How to build wealth, from people who have

• Real estate investing can lead to financial freedom if you have the right strategies and patience.
• We spoke to a number of people who have used real property to build wealth.
• This is a collection of our favorite stories about passive income real estate investors.

Real estate investing is possible with patience and time.   

“A lot people want to time market but it takes time. InInsider spoke with Michael Zuber, an early retiree and property investor. That’s how you become wealthy. The more you own an asset, the richer you will be. It’s amazing to see what happens to your portfolio after 10 years of ownership. 

Insider interviewed Zuber and other individuals who used real estate to create long-term wealth. Insider has verified these investors’ claims regarding income and property ownership using documentation they provided. 

Here’s how it was done.

Todd Baldwin, now 23, invested in his first home at the age of 23. He hasn’t looked back. He now earns more than $1 million per year and has a goal to reach a net worth of $20,000,000 before age 35.

Todd Baldwin, a Seattle-based realty investor, bought his first property when he was 23 years old. It was a $66,000 six-bedroom house with $506,000 price tag. Baldwin made it financially viable by saying, “Hacking houses“, or having rent-paying roommates that allowed him to live in his own home for free. 

Because he was earning rental income and living for free, he was able save more money to buy rental properties. Baldwin said that his net worth had surpassed $1 million by the age of 25, largely due to his rental income. Baldwin became a multimillionaire at age 28 and was happy to leave his 9-to-5 job to invest in real estate.

According to the 29-year old, real estate can lead to wealth. “It’s not easy, but it is very straightforward,” he stated. “If you buy real estate and hold it for 20 years, it’s going to be worth a lot more than you paid.”

Karina Mejia purchased her first home when she was 22 years old. She now has five properties in Boston and Augusta, Georgia. In 2021 she made $43,000 from rental income.

Karina Mejia, a Boston-based real estate investor and realtor, lived at home after graduation and worked three jobs in order to save for a downpayment.

Mejia said that if you are able to live with your family during the beginning of your career, it doesn’t have to be a huge sacrifice. She financed her first house with an FHA loan, and paid about $20,000 down. It doesn’t mean you have to give up your freedom. For the first year or two, it’s a wise financial move to take.

She currently owns three properties in Augusta, Georgia and two in Boston. She rents out a portion of her Boston property to live free. 

Olivia Zuber and Michael Zuber are real estate investors. They own more than 100 units and make over $100,000 per month in rental income. They were able to retire comfortably in their 40s thanks to their real estate portfolio.. 

After losing thousands in their previous day-trading career, Michael Zuber and Olivia Zuber switched to investing in real estate. This started out as a way to help them get back on track and rebuild their nest eggs, but it has now become a pathway to financial freedom. 

A couple from the Bay Area saved enough money to buy their first property, a $107,000 single family home. They cut back on eating out, entertainment and vacations to make it possible to rent their first rental property. 

They lived on half of their income for many years while working full-time. This allowed them to save more money and be able to buy more real property. They were earning enough rental income by 2015 that Olivia was able to quit her 9-to-5 job. Michael also followed the example of Olivia and quit his job as a software engineer in 2018.

Peter Keane Rivera, 25, bought his first property in Seattle despite owing $45,000 student debt. He has nine properties between them and makes $102,840 a year in rental income.

Peter Keane Rivera, aged 25, invested in his first property at $355,000, a three-bed, two bath house with three bathrooms. He used his savings and an investment in bitcoin to fund the down payment.

His monthly mortgage payment and private mortgage insurance came to around $2,000 per month. He “house-hacked” his house and found two roommates for the remaining rooms. Keane Rivera moved into the smallest bedroom in his house, and rented the rest for $725 and $900 per month, he stated. His monthly housing bill dropped to $375, about half what he was paying for rent.

He now owns two properties and has nine renters. He lives in one of his properties for free because his rental income is more than enough to pay his mortgages. His goal is to leave his day job and fully concentrate on real-estate investment within the next two year. 

Matt “The Lumberjack Landlord”, a high-school dropout, purchased his first property in 2001. It almost survived the 2008 housing crash. He owns more 100 properties today and generates six figures in monthly rental income.

Matt, 44, a real-estate investor and investor in real estate, stated that “if there was a mistake to make, I did a pretty good search for it.” Matt prefers to use the pseudonym “The Lumberjack Landlord” because he is more private.

In the 2000s, he began to buy properties. His first investments were more trouble than income. He faced a greater challenge when he had to survive the 2008 housing crash.

It took about seven years until he started to earn enough in rental income to cover his own housing costs ​​— and it was year 15 of investing when his real-estate earnings became roughly equivalent to his salary from his software job. 

He now owns 106 units in 36 buildings in New Hampshire after two decades of investing in real estate.

Dion McNeeley, a former truck driver, didn’t have much money and lived paycheck to paycheck for many years. He eventually built a 16 unit real estate portfolio in Washington, and was able to retire from the rental income.  

Dion McNeeley, former marine, cop, truck driver and police officer, stated that “I made it all the way to 40 without ever having $1,000 saved in the bank.” “My plan was for two pensions to retire, but neither of them worked out.”

McNeeley started investing in real estate in 2011, and began to save for a property. He was earning $17 an hour at a truck driving school. He saved $20,000 after two years of overtime to be able to purchase an investment property in 2013. 

He continued to buy about one property per year until his income “snowballed”. The 51-year old has been investing in real estate for nine years and now owns seven properties in Washington and 16 units. He considers himself financially independent and makes six-figures in rental income each year.

Ludomir Wanot, a Seattle-based wholesaler and real estate investor, built his portfolio using $10,000 in cash. He bought with his brother and used an FHA loan. He now makes more than $500,000 a year and expects to be making even more in 2021.

Ludomir Wanot, whose mother was financially struggling, said that money gave him options from a young age. “So I began thinking about ways to make more money.” While he was in highschool, he discovered that 90% of millionaires were made by owning real property. From that moment on, he knew that realty would be his pathway to wealth.

When he was 24, he bought his first investment property together with his brother. Craigslist provided a listing for a single-family fixer upper. The seller was negotiated down to $138,000 by them and the loan was financed with an FHA loan. They each paid less than $5,000 and put down less than $10,000.

Wanot, who is now 30 years old, makes most of his income from wholesaling but earns about $50,000 each year from rents from 13 units he owns in central and western Washington.