Want to earn more, while having more time for family, hobbies and other pastimes? Real Estate can offer a freedom like very few other industries can. Investing in real estate can put you on the path to becoming a millionaire. Considering that, as of 2012, 86 percent of millionaires were self-made, and of those, real estate created the largest number of them, deciding to give real estate a go could be the best decision you’ve ever made.
Here are a few fun facts about millionaires…
- Approximately 7 percent of all American households are millionaires (Maybe your household could be next?)
- Half of all millionaires are self-employed or own a business
- Only 20 percent of millionaires are retirees, about 80 percent still go to work
- In the year 1900, there were only 5,000 millionaires in the United States… In 2000, there were more than 5 million
- 63 percent of North American millionaires are men, and 37 percent are women
One study concluded that 90 percent of all millionaires in the United States were millionaires partly due to their ownership in real estate. Consider a few of the more well-known millionaires that have an investment portfolio filled with real estate that have helped them make the top lists of millionaires (and billionaires). Millionaires don’t lower their targets when the going gets tough. Instead they raise the bar for themselves because they realize that they can make a difference.
Ever heard of Ted Turner, Jorge Perez, Samuel Zell, Mortimer Zuckerman or Donald Trump? My guess is that you probably recognize at least one or two names off the list. The reality is that the list of millionaires made through real estate investing is much longer than what I just listed, but to get my point across I just wanted to note that millionaires typically have real estate investing included within their portfolio. So here is a philosophy for you to ponder on: Do the work in the beginning and get paid for the rest of your life. This is what the opportunities that lie in real estate investing can do for you, and who knows your name could be next on that self-made millionaire list!
Image courtesy of Wall Street Journal
“I protect myself by being flexible. I never get too attached to one deal or one approach. For starters, I keep a lot of balls in the air, because most deals fall out, no matter how promising they seem at first. In addition, once I’ve made a deal, I always come up with at least a half dozen approaches to making it work, because anything can happen, even to the best-laid plans.”– Donald Trump