90% of Millionaires got there through Real Estate?

By
Real Estate Agent with Atlanta Communities 303302

I read something interesting yesterday. It said that 90% of all millionaires got there by investing in real estate. Wow! I started thinking about whether or not I believed that, and I think I do. When I look back at the few investments I have ever made that turned out well, they were all real estate related.

The only "Income Property" I have ever directly owned was a townhome I purchased for my daughter to live in while she was in college. We owned it for a little over 3 years. My daughter rented out the other 2 rooms to fellow college students and she lived free and the property returned about $500 per month after expenses.

It was an easy way to keep from having to pay about $1,000 per month in rent for my daughter to have a place to live. Purchased for $175,000, we sold the townhome for $235,000. Not a bad return on this short term project.

I have a client who buys run down properties, fixes them up, and rents these homes. He makes about $9,000 per month on these properties. Not bad.

So, I really do believe that owning real estate can help folks build wealth. The key is having a trusted real estate agent help you find just the right property to fit your needs. If you are looking for an agent to help, give us a call at den Boer homes. We would love to talk to you about how real estate can fit into your wealth building program.

Posted by

Peter den Boer, Associate Broker, Realtor

Atlanta Communities Real estate Brokerage

 

Ph. 770.713.1545

www.denboerhomes.com

 

I write about daily life as a Realtor in the Towne Lake Community in Woodstock Georgia.

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Rainmaker
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Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Good morning Peter den Boer - many are millionnaires just because they bought there home and built equity.  Owning your own home is a must and real estate is a great investment.  They are not making any more land.

Aug 30, 2019 06:56 AM #1
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Peter den Boer

MBA,GRI, Associate Broker, Realtor
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