Let’s uncomplicate the issues. I dreamed and envisioned for years about owning and operating thousands of apartment units, like the big players in the industry. I didn’t just wake up one morning and decide to open a private equity firm to invest in apartments. My dream was years in the making.
Why real estate? My guess is that you already know and believe real estate is the most powerful tool to create wealth. More people in history have amassed large amounts of wealth as a result of investing in real estate. It has been stated that 95% of Americans will face financial struggles in retirement. Only 3% of Americans have a savings account. If you are under the age of 40 today, social security may be nonexistent for you in the future.
We all know there are multiple options to create wealth but most pale in comparison to real estate investing. There are several options including savings accounts that pay under 1% interest, CDs paying under 4% interest, bonds, and money market accounts that are not any better. These are considered safe options for your money, however, there is no long-term growth. There are also stocks, options, futures, and choices for hedging your money. These options certainly have a place in every portfolio.
I had spent over 15 years in residential real estate sales, selling homes retail and to real estate investors. I had built a successful team and we were selling approximately 125 homes per year.
In 2005, I began to watch in wonder as the real estate market began to soften. I understood the direction the market was taking and that I would not be able to continue the level of production I had become accustomed to. I knew it was time to pursue personal vision: and a deep desire that I had dreamed of for years.
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