170. Become millionaire in 5-10 years time by renting out a mortgaged property to homeless (or AirBnb) people - Make $8,000 per month of profit per property
This idea is super-simple and zero risk.
As you know, you can get a $200,000 property for $1,000 per month mortgage. Like a house with 3 bedrooms (foreclosed or not) you buy for $200,000.
Suppose each bedroom can have 2 beds or 2 couches, so you can house 6 people. Suppose you house 5 homeless people and ask $30 per day rent. The first day or 2 or 3, they rent for free (as they need to fully recover), then they pay $30 per day. Then you are much cheaper than a hotel at $100 per day and you are fully booked 30 days per month per renter.
As you know, with AirBnb.com, the cheapest place to rent is $50 per day in your city, you offer $30 per day, so you are fully booked 30-days per month for 5 renters.
So you make $30 per day * 5 renters * 30 days = $150 per day * 30 days = $4,500 per month of income.
So you have a profit of $3,500 per month. Minus the cost of free utilities (water, electricity, heating, internet (wifi)) = $500 per month so your net profit is $3,000 per month and your mortgage is fully paid!
So you make an extra $50 profit per day per homeless renter * 5 renters = $250 per day * 20 days (they sell the books 20 days per month) = $5,000 per month of extra income for you.
So your total profit income is $3,000 + $5,000 = $8,000 per month! So you can quit your day time job and your mortgage is fully paid!
Then, each year, you buy a new house on mortgage, so in 3 years time, you make $8,000 per month profit * 3 = $24,000 per month of profit. Plus those 3 houses increase in value each year and in 10 years time these $200,000 properties are worth $400,000.
You can even sell each house for $200,000 profit (or for $400,000) to property investors, because your rental income is $3,000 per month, but it is smarter not to resell, but add more properties on mortgage as you make $8,000 per month profit with your homeless renters.
You can also simply rent a house, for let's say $1,500 per month, and with 3 bedrooms at $30 per day, you make $1,500 profit per month plus the extra $5,000 per month on reselling the make-money books by homeless people.
Even if you don't buy a house for rent or on mortgage, if you place 2 couches in your living room and rent them out to homeless people or on AirBnb.com for $30 per day, you make an extra $900 * 2 = $1,800 per month of income with 2 renters.
So here you have it, you make $8,000 profit per month on each mortgaged house you rent to homeless people or on AirBnb.com, you make $96,000 per year profit! With 3 properties, you make close to $300,000 per year profit, or in less than 5 years time, you are a millionaire!
So you see, helping out the homeless people, will make you a millionaire in 5-10 years time! God gives back 100-fold your investment!
This idea is super-simple and zero risk to become millionaire in 5-10 years time!
