Investment real estate has made more millionaires in America than any other form of investing, a survey by Housing Predictor shows. Millions are made in investment real estate. The majority of the wealthiest families in the Nation have made their fortunes investing in real estate.
Many start out investing in simple single family homes, parlay the profits into a duplex or other forms of real estate and discover wealth in investment real estate.
The stock market has produced many wealthy people, but not like real estate. Only eleven percent have made their fortunes in stocks or other investments. Whats the key?
There isnt one. In the survey conducted by Housing Predictor of 500 of the Nations wealthiest individuals who responded to the survey we found most started out slowly and over time purchased more properties to attain their fortunes.
Some have specialized in residential real estate while others have bought commercial property, but only 8 percent have bought both.
An over-whelming majority of 83% made their millions in real estate. Only 11% made their first million in the stock market or other investments. Four percent were not sure whether they made their first million dollars in real estate, stocks or from their own business enterprises.
Many started investing in real estate (32%) by buying properties that were foreclosures or greatly discounted. Fifty-one percent, however, bought their first few properties of investment real estate conventionally and waited for the market to appreciate enough to make substantial profits. Some 92% said long term planning was the key to their success.
According to the survey, the key to success seems to be long-term. Compared to other investments real estate is golden. Less than 15% net a profit in the stock market over the long haul, according to economists.
Most real estate investors who are in the investment real estate market for more than 5 years, which is considered a long term investor in real estate, make their profits over more than double the amount they invested.
There are many places like that in the Nations real estate markets all over the country profiled in Housing Predictor. There are some great buyers markets where there are shortages of investment real estate for tenants.