In 2003, my dad gifted me a copy of Robert Kiyosaki’s “Rich Dad, Poor Dad” and it taught me that exchanging my time for money in the grocery business as an employee wasn’t going to get me to where I wanted to go in life.
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The hypothetical rental I was considering at the time was a three-bedroom, two full bathroom home with 1,600 square feet of living space on a 0.16-acre sized lot in an average neighborhood. The median price for a detached single-family home in February of 2021 was $440,000. Rent rates were estimated at $1.25 per square foot, which put our generic home at $2,000 per month.
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