Several of the richest people in the world achieved that by way of investing in real estate. Over time, it remains one of the effective ways to obtain real wealth. Purchasing and possessing real estate has aided everyday people to make a fortune in every part of the country. Just have a look at the real estate billionaires on the Forbes 400 list. Although not every billionaire on the list began with nothing or even made their money exclusively in real estate, there are 24 real estate tycoons on this year’s Forbes 400 list that may function as an inspiration for anyone thinking of investing in real estate.
For instance, Donald Bren ($16.2 billion) made a real estate empire in California and founded the massive Irvine Company, owning more than 126 million square feet of real estate, more than 560 office buildings, and 125 apartment complexes. Bren began making houses in southern California, then joined together with other investors to purchase a massive tract of land to plan and develop the city of Mission Viejo, California. He persisted in developing his achievements, building on his previous successes, later becoming the sole owner of the Irvine Company and earning his place as a real estate billionaire.
Another fascinating case study is Sam Zell ($6 billion), who made his money, particularly through his stakes in Equity Lifestyle, an owner and operator of manufactured home communities and RV resorts. He moreover has big holdings in the apartment REIT Equity Residential. Zell grew up in Illinois and obtained his start managing an apartment building. He thereafter bought out the building’s owner and then went into apartment building development with a partner, investing in places as diverse as Toledo, Ohio, and Reno, Nevada.
Also, there’s Jeff Greene ($5.1 billion), who got started working as a busboy in Palm Beach, Florida. After a brief stint in politics, Greene started investing in real estate, usually condos, and apartment buildings. He made his first real money during the housing market crash of 2007 and 2008 when he made use of unusual investing strategies that involved trading credit default swaps. The consequent returns positioned Greene on the Forbes 400 list. His holdings in Florida have even more, currently, rocketed in value, increasing billions to his net worth in just the last year or two.
The common characteristic among these three real-life investor stories is that all of them spent decades building on previous successful investments to expand their real estate wealth. Though there’s no assurance that every real estate investor will become a billionaire or even a millionaire, the stories are usually enough that it indicates how much potential real estate investing holds.
Beginning or getting started in real estate investing can look like an impossible dream. Nevertheless, with some planning and hard work, it can change into and become a reality for anyone who wants it badly enough. Many experts recommend starting by buying a residential rental property. They tend to be more affordable than bigger real estate investments and endow the possibilities for both positive cash flows and appreciation. Nevertheless, to be profitable in real estate, you definitely ought to have the perfect team of people on your side, able to support you in taking advantage and make the most of every investment.
That’s where Real Property Management Unlimited can help! We will definitely be of help to rental real estate investors to give market assessment, quality data, and Hempstead property management services. We can even aid you to find great off-market deals on your next investment property. Contact us to learn more.
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