Newsflash: Any real estate investors in SoCal?

I’m not looking for a mentor of sorts, I just have a bunch of questions about the right move for me to make right now for SoCal market.My brother might be investing with me, we have around $50k each to invest with and I have a 100k HELOC that can be used as well.My main question is, I hear all the time “become a millionaire with real estate investing” and I can see how that can be a definite possibility. I’m just confused on all the steps in between. For almost 3 months now I’ve been reading everyone’s stories and all the articles and all the different types of investing you can do and every story/article has one thing in common – No one explains what happens between the start at a first investment house purchased and the now when they have 20+ properties making 10k a month off profits. So.. What exactly happens in between?I found a nice quadplex in Fontana for around $550k which me and my brother can easily get approved for and get. My loan agent ran the numbers and that property will be netting us around 800 a month in profitsHe says it’s a great deal, I see it as a great deal, my brother sees it as a great deal but now here’s the problem. $550k loan needs a down payment of $137,500 which we can easily do. We’ll use maybe 60k of the HELOC and the rest our money. The HELOC payments will be ~310 a month. So now that 800 profits number goes down to 490. To save up another $137500 for another down payment would take 23 years (assuming we don’t put any more of our money into it).. I get the whole someone is paying your mortgage down all the while gaining appreciation. But, how do I go from owning 1 investment property, to owning multiple without constantly having to dish out my own money? I can see when you own 10 properties each netting 490 a month you’ll be able to have enough money from that every 2 years to purchase another house.. But from the 1 house mark, how can you possibly make enough money from it to purchase the second home?



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