Billionaire Andrew Carnegie once said that 90% of millionaires have made their wealth by investing in real estate. Well, he was right and this stands true for every decade. It was true in pre-depression era and even in the modern era, most millionaires are linked to the realty business. The reason is simple, people need homes.
To answer the question, Is investing in real estate still a good idea?. Let’s take a look at some interesting insights.
CNBC covered a detailed post talking about 9 investors who weigh in the importance of investing in real estate.
No one can deny the fact that onwing an asset makes you rich. Real estate investment is by far the best, it’s value and price increases in a long run and makes the investment very lucrative.
Speaking about residential property income, one can generate income all year round. If you buy a property, put it for rent, you can earn a good, steady income and at the same time the price of your property continuos to rise, years ahead.
Investors who have made a good fortune with real estate believe, it is always a great investment because of available options. No other investment gives you so much options than real estate. If you invest in bonds or stocks, your success is dependent on many factors, mostly out of your control. With real estate, you are always in control and have many options.
Everybody needs a place to live. This gives real estate investment huge importance over any other investment. As an investor, you can buy one property to begin with, use the money by selling it at a higher price and re-invest the money to buy more properties.
Through sale and purchase, by putting properties on rent, you are better destined to make 7 figure income than any other investment.
In the book Rich Dad Poor Dad, the rich dad advises his son to invest. The best investment today is a real estate business. It is costly but the return to investment is safe and realistically speaking, unmatched with any other investment.