OK. Let's take a look.

The broader equity market has 10 to 11% annualized returns since 1970.  Could you please show your real estate total return since 2005 and list it here.  I would like to know that someone could make 40 times of returns in 12 years.  This means if you bought a house in 2005 for $100K, today the house is worth $4M.  Roughly, 330% annually.  This is a very, very...very impressive record.  No one in the world can get this kind of returns for 12 consecutive years.  Not Warren Buffett, not Bill Gates.  I apologize for sounding so cynical.  But reality, this is impossible in real estate investment.

I have some good fortune to live in Japan during Japanese real estate crash in the 80s and early 90s.  I have also lived in Hong Kong during the 90s.  I saw Hong Kong real estate markets going up like crazy before 1997 and crashed after Asia Financial Crisis.  Then I moved back to the states in the early 2000s, I was so lucky to go thru US housing crisis.  What luck!  Even during these crazy housing boom and bust, I have never seen the returns that you describ.