The 10 Investments That Made Paul Ryan a Millionaire
Business InsiderBy Walter Hickey | Business Insider – 7 hours ago
http://finance.yahoo.com/news/the-10-investments-that-made-paul-ryan-a-millionaire.html
Thanks to the personal finance disclosure that members of congress are required to submit — and the folks at the Center for Responsive Politics who maintain a database of the documents — we were able to look into the investment decisions of Wisconsin Congressman Paul Ryan, who as of last week, is now the official Republican vice presidential nominee.
According to the documents, Ryan has benefited from a number of trusts and inheritances that make up most of his wealth, but his investments over the years have cemented his net worth somewhere between $927,000 and $3.2 million.
http://l.yimg.com/bt/api/res/1.2/jrKpIxD86oDy3tO4LzN7UA--/YXBwaWQ9eW5ld3M7cT04NTt3PTMxMA--/
We think that this is one of the rental properties Ryan bought. (Google Streetview)1. A brief stint as a landlord made Ryan some early cash.
As a freshman representative, Ryan bought three rental properties in his hometown of Janesville, Wisc., in Feb. 1998 He paid between $100,000 and $250,000 for the properties, financing them with a mortgage from Anchorbank SSB. He collected between $15,000 and $50,000 per year in rent from tenants, and in 2000 bought a fourth rental property. By that point the properties were worth between $250,000 and $500,000.
He flipped the real estate in 2001.
2. Ryan Limited Partnership, an investment group, has made Ryan a lot of money.
Ryan owned a 21.37% stake in RLP well before he joined Congress, and the asset has grown from a worth of $45,358 in 1998 to somewhere between $100,000 and $250,000 in 2011. That partnership has diversified its portfolio over the years, and has made a brisk trade in stocks and mutual funds. Dividends alone were worth $5,000 to $15,000 last year, although they were higher prior to the recession. Current RLP assets include Altria Group, Amazon.com, Apple, Google, McDonald's, Philip Morris, Starbucks and Visa.
snip
