Ninety percent of all millionaires become so through owning real estate. More money has been made in real estate than in all industrial investments combined. The wise young man or wage earner of today invests his money in real estate.
Real estate investment is one of the fastest and safest ways to build wealth and grow your net worth in this country.
Just to be clear, when I talk about real estate investing, I’m not talking about buying a home to live in. That sort of investment takes money out of your pocket every month. When I talk about real estate investing, I am talking about buying cash-flowing rental property that puts more money into your pocket.
There are 7 main reasons why 90% of millionaires are invested in real estate and why you should too:
Tenants pay rent. After expenses, what you have is monthly, recurring mostly passive cash flow. This is a benefit that helps millionaires...
Even though I live in Los Angeles, I no longer invest here due to one of the most important property market considerations that I will share in a sec.
I am nonetheless always interested in knowing what's going on in real estate, especially in my own backyard, so on Saturday I went to a real estate symposium about the Revitalization of Downtown Los Angeles (DTLA).
DTLA has really flourished and changed over the past 18 years from when I first moved to LA and worked Downtown to today.
Back in 2000 when I first moved to this city, Downtown was a no man's land. People would drive in to work and there would be activity in DTLA from 8 am to 6 pm or so. As soon as 6 pm hit the city would completely empty out (well except for lawyers like me working insane hours and the homeless who called those streets home).
Due in large part to the opening of the Staples Center, which hosts 4 sports teams and 300 events per year...