According to billionaire Andrew Carnegieи, 90% of all millionaires get to that level of wealth through an investment in real estate. Is that true? Is this still relevant? Is it worth investing in real estate today?
According to these nine Advisors in The Oracles, who made millions by investing in real estate, the answer is a resounding yes.
‘Buying real estate has made me rich — mostly through necessity, not by design'
I bought my first itty-bitty studio after scraping together a few bucks because I needed to live somewhere anyway.
A few years later, the studio doubled in value, giving me enough cash to plunk down 50% on a one-bedroom apartment. That soon rolled into a two-bedroom, then a three-bedroom, and finally landed me in my 10-room penthouse on Fifth Avenue in New York City.
Buying that tiny studio was the most important decision I made because it got me in the game.”
Barbara Corcoran, founder of The Corcoran Group, podcast host of Business Unusual, judge on Shark Tank
‘Residential properties can generate income year-round'
“Investing in real estate is a great idea if you are in it for the long haul, not a quick return.
Your best bet is investing in residential properties that produce rental income year-round. Just make sure you understand all of the associated legal fees and are prepared for unexpected costs.”
Bethenny Frankel, entrepreneur, philanthropist, founder of Skinnygirl and Bstrong
‘The right investment will continue to appreciate.'
“Real estate is real, and it's always a good idea to put your money in real assets. But let me be clear: That doesn't mean that all real estate is a good idea.
I only buy certain types of properties, generally multifamily ones in upscale locations that provide consistent cash flow and great potential for future appreciation.
I stay away from low-income areas and single-family homes. But even those assets are probably a better place to store your money than letting cash depreciate while sitting in the bank!”
Grant Cardone, sales expert, New York Times best-selling author
‘Real estate offers unlimited options.'
“Real estate is always a great investment because you have more options than with other types of investments.
If you invest in stocks, bonds, or a private offering, your success is completely dependent on factors outside of your control. At most, your options are to hold or sell. With real estate, you have unlimited options.
You can buy a house with the intent of flipping it, then rent it if the market turns south. Real estate can be refinanced, rehabbed, and rezoned. You can develop it, lease it, subdivide it, or add parcels to it.
These are just a few of your options. This flexibility is one of the reasons it has created more millionaires than any other asset class.”
Daniel Lesniak, founder of Orange Line Living, broker at the Keri Shull Team, co-founder of real estate coaching business HyperFast Agent, author of “The HyperLocal, HyperFast Real Estate Agent”
'People will always need a place to live.'
“There's an opportunity for greater and more consistent returns with real estate than with other investments. When a property is built, it's because a group of people see a population large enough to justify it.
The huge number of new properties every year is a testament to the growing real estate market. Supply follows demand, and demand continues rising. People seek comfort, which is why the need for housing increases year over year.
The market for multifamily apartments in particular is growing. As apartments become more attractive, people are less likely to buy houses. With multifamily apartments, you continue to generate increasing income over time.
Real estate is an opportunity to collect returns. There is demand for it all year round!”
Robert Martinez, founder and CEO of Rockstar Capital, a real estate investment company with over $330 million in assets under management, host of “The Apartment Rockstar” podcast
Over the last two centuries, about 90% of the world's millionaires have been created by investing in real estate
“For an average investor, real estate offers the best way to develop significant wealth. As with any form of investing, it is best to get started early with real estate. A good way to begin is to buy your first primary residence.
The goal is to continually buy properties as a primary residence, move in, live in them, and then rent them when you are ready to buy the next one. After it has been rented, the next primary residence can be purchased, and the cycle starts all over again…”
Jonathan Yates, financial writer who holds degrees from Harvard University, the Johns Hopkins University, and Georgetown University Law Center
You can buy apartments and commercial estate in our sales offices, which are located near the Vostok metro station in Minsk at 9 Mstislavtsa Street (first floor, Dana Center, open from 8:30 till 20:30 on weekdays and from 9:00 till 20:00 on weekends and holidays) and 11 Mstislavtsa Street (first floor, Dana Mall, open from 9:00 till 22:00 every day).
In order to buy real estate, you can also contact regional sales managers in 19 cities across the country: Brest, Pinsk, Baranovichi, Gomel, Mozyr, Svetlogorsk, Rechitsa, Zhlobin, Grodno, Lida, Vitebsk, Orsha, Novopolotsk, Mogilev, Bobruisk, Nesvizh, Borisov, Soligorsk, and Molodechno.
To reach us, dial 7675 on a mobile. Our fixed-line numbers are +375 17 269−32−90, +375 17 39−39−465.