Real Estate: The Key to Becoming a Millionaire

It's no secret that real estate can be a great investment. Many millionaires have a significant percentage of their assets tied up in their primary residence, and more money has been made in real estate than in all industrial investments combined. Today's wise or salaried young man invests his money in real estate, and it has helped to create 90% of the world's millionaires. There is an inherent demand for real estate, whether it produces a product or houses an apartment or commercial space, so it will always be a good investment. Fourteen percent of millionaires have REITs, but that percentage increases among professionals and millennials.

Some estimates place the figure even higher, stating that up to 90% of millionaires in the last two centuries have achieved their wealth partly thanks to real estate investments. Starting with a primary residence, 90 percent of millionaires own a primary residence, according to recent research conducted by Spectrum Group with millionaire investors. If you are thinking about becoming a millionaire, you must have the mentality of acquiring assets first before opting for additional liabilities. When talking about investing in real estate, it doesn't mean buying a home to live in. Investors should discuss any real estate property with their financial professional to ensure that these assets are included in their financial plan and wealth plan and, at the same time, ensure that the investor is not overallocated to any particular segment.

Since most millionaires exercise such restraint with their housing costs, by buying a home much cheaper than they can afford, they can channel more of their income into investments. Nine advisors from The Oracles have confirmed that investing in real estate is the key to becoming a millionaire. Joining a community of women who learn and grow together with real estate investment can empower women to change the world one life at a time. More than a third (35%) of millionaires go even further and invest in REITs such as Streitwise and Fundrise to add more classes of real estate, beyond their own homes and investment properties.

Malcolm Kaschmitter
Malcolm Kaschmitter

Freelance coffee specialist. Total tea advocate. Certified coffee buff. Subtly charming internet lover. Unapologetic web ninja. Typical bacon scholar.

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