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Reply to "How do people afford 5 million + homes?"
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[quote=Anonymous]High income when young with a trajectory through the roof. I started a business young and was making substantially more than anyone I knew by 25. We diverted the extra income into assets that earned us more money. 1 property became many. Residential properties became commercial properties. One business became many. Business net profits went from $220k to $1M in less than a decade. And then from $1M to $2M less than a decade later. Before I retired I was netting $4M+ consistently but in really good years woth good capital gains I could get 8 figures. We purchased a home for a little over $3M and ended up putting another just under $2M into it. Today it’s worth $7m-$8m. We purchased a vacation home for $1.5M. That one we put in $200K and it appreciated to low $3Ms. [/quote]
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