Dana Bull is a realtor and real-estate investor based in Massachusetts who believes real-estate investing is a great way to build wealth because it generates cash flow and appreciates over time. One of the common financial fallacies that keeps ordinary salary-earning South Africans from building real wealth is that, ‘you need money to make money’. 14 Apr 2015. Building wealth through real estate investment is never easy. It won’t get you a quick dollar, but it can get you a large amount of money over time. So why then is it so scary for many would-be investors?
Start building wealth through property; Start building wealth through property. However, as I mentioned earlier, there’s a reason why the 1% invests in real estate. Property 1 will give a return on your investment of 15% but will probably never increase in value Property 2 will give a return of 7% but has the potential to double in value over the next decade. Buying investment property to grow your wealth is a well proven strategy. If your goal is to create a certain monthly income within three years, the Property … Prepare to spend more money than anticipated. Start Small and Build as Knowledge is Gained.
To build wealth really fast, you’re not going to get there by investing $50 to $100 per month into a Roth IRA. Praven Subbramoney, CEO of Private Bank Lending at FNB, says the ability to build wealth through multiple properties should not be determined by how deep your pockets are, but rather by identifying niches in the market and maximising assets and expertise that you already have at your disposal.
So now that we see all the different ways to build wealth, let’s take a look at the actual potential return we can generate in our first year on an investment property: Since foreclosures are generally sold for about 20% below comparable homes in the neighborhood, let’s say that we buy a foreclosed home for $150,000 in a neighborhood worth $190,000 after repairs are made.
Just like the game of Monopoly, investing in real estate to build wealth is a process that begins with just a single property and grows. There will always be challenges and problems you’ll need to get through.
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