It's no secret that real estate is a great way to build wealth. In fact, an estimated 90% of all millionaires invest in some type of real estate. There are several reasons for that, but in today's article we'll explore seven reasons why millionaires invest in real estate. Billionaire industrialist Andrew Carnegie once said that 90% of millionaires got their wealth by investing in real estate.
He also stated that “more money has been made in real estate than in all industrial investments combined.” That alone should be enough for investors to at least consider this asset. But like any investment, real estate has its advantages and disadvantages. You'll undoubtedly need to do your homework to be a real estate investor, as you'll need to understand a wide range of general financial, legal and real estate terminology. All agents undergo refresher courses to keep up to date with the latest laws and legislation every year or as needed, so that they are better qualified to help real estate millionaires in training or already successful and wealthy investors to improve their real estate projects even more. If you invest wisely, over time you will be able to use the properties you have as a lever to buy more real estate and thus accumulate your wealth.
Just to be clear, when I talk about investing in real estate, I don't mean buying a home to live in. According to these nine advisors from The Oracles, who made millions investing in real estate, the answer is a resounding yes. But is this kind of wealth still possible? And is real estate really the best way to get there? Well, according to the CEO of ParkTrent Properties Group, Ron Cross, it certainly is. It is a well-known fact that 90% of the world's millionaires have made their fortune with one-off investments by buying, selling and renting properties. Andrew Azoulay, real estate agent for Douglas Elliman Real Estate, reminds investors that they should consider the cost of maintaining a pool, tennis court and garden, if applicable. Bethenny Frankel, who has gone from reality TV star to real estate investor, as quoted by CNBC, “investing in real estate is a great idea if you are dedicated to it in the long term, not to quick returns.” Robert Kiyosaki, famous author of the book series “Rich Father, Poor Father”, has said that “real estate investment, even on a very small scale, is still a proven means of increasing a person's cash flow and wealth.”Max Sharkansky, managing partner of Trion Properties, points out that on the bright side “private investments (such as illiquid real estate) respond more slowly to valuation changes than public investments such as stocks and bonds.” Investing in real estate is a reliable wealth-building strategy and you certainly don't have to do all the legwork yourself. Join a community of women who learn and grow together with real estate investment, empowering women to change the world one life at a time.