Various exceptionally wealthy people in the world reached that way by investing in real estate. Over time, it remains one of the best means to get real wealth. Investing and acquiring real estate has assisted everyday people to make a fortune in every part of the country. Just check out the real estate billionaires on the Forbes 400 list. Though not every billionaire on the list started off 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 become an inspiration for anyone taking into consideration investing in real estate.
For example, Donald Bren ($16.2 billion) established 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 got started developing houses in southern California, then worked with other investors to obtain a vast tract of land to plan and develop the city of Mission Viejo, California. He persevered to make headway through his triumphs, moreover becoming the sole owner of the Irvine Company and earning his place as a real estate billionaire.
Another striking case study is Sam Zell ($6 billion), who made his money mainly through his stakes in Equity Lifestyle, an owner and operator of manufactured home communities and RV resorts. He likewise has substantial holdings in the apartment REIT Equity Residential. Zell grew up in Illinois and achieved his start managing an apartment building. He later 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.
Additionally, there’s Jeff Greene ($5.1 billion), who has started working as a busboy in Palm Beach, Florida. After a short-lived stint in politics, Greene commenced investing in real estate, generally condos, and apartment buildings. He made his first real money during the housing market crash of 2007 and 2008 when he applied unusual and uncommon investing strategies that involved trading credit default swaps. The subsequent returns put Greene on the Forbes 400 list. His holdings in Florida have even more recently increased in value, scoring billions to his net worth in just the last year or two.
The common point among these three real-life investor stories is that each and every one of them spent decades building on previous successful investments to bring up their real estate wealth. Although there’s no exact guarantee that every real estate investor will become a billionaire or even a millionaire, the stories are typically common enough that it illustrates how much potential real estate investing holds.
Starting off in real estate investing can seem to be an elusive dream. However, with a little preparation and some hard work, it can evolve into a reality for anyone who wants it badly enough. Several experts recommend starting by buying a residential rental property. They are inclined to be more affordable than great real estate investments and grant the possibility for both positive cash flows and appreciation. But, to be effective in real estate, you, moreover, really need to have the ideal team of people on your side, prepared to assist you to do well out of every investment.
That’s where Real Property Management Excelled can help! We collaborate closely with rental real estate investors to furnish market assessment, quality data, and Des Moines property management services. We can even support you in locating great off-market deals on your next investment property. Contact us to learn more.
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