Real Estate Millionaire
@reipowerhouse (428)
United States
March 27, 2007 12:51am CST
I am a real estate investor as well as business owner.
With this nationwide changing real estate market and down turning economy what is your opinion?
Within the next 5 - 10 years will we be seeing more or less real estate millionaires? Will you be one of them?
If so what type of real estate is going to be the most popular and most profitable?
Personally I think it's going to be multiple units and commercial buildings.
3 responses
@Makoy1983 (1084)
• Philippines
30 Mar 07
a friend of mine just introduced to me a real estate business just this day. it was my first time to encounter such a business opportunity. my prediction is that, in the long run, real estate would be a booming business especially in the progressing countries in the future
1 person likes this
@reipowerhouse (428)
• United States
31 Mar 07
Just make sure that with that investment your friend is speaking of you analyze it for yourself and take some deep thought before putting any money forward.
Use your gut, when I first started investing I was trusting my mentor's even when my gut wasn't in it and I lost my first 2 investment properties because of it.
Not everyone is in the same stage of their financial plan at the same time, make sure yours is lined up with the opportunity brought to you.
@Only1Andrea (796)
• United States
28 Mar 07
Hello:
I am not a real estate millionare just yet. I am just starting to tango with real esate actually. Nevertheless, I must agree with you about the multiple units and commercial buildings being the best way to go. I think now would probably be a good time to get in on that if you have the extra money to wait on the market.
People are buying homes, but I think that the price of properties are climbing and the houses may be harder to get rid of in the coming years. I mean there will always be someone happy couple or striving adult wanting to buy a house, but they may not be as many. I don't think the world is getting any more family oriented and although owning a home is wonderful, people like owning condos for convenience and sometimes price (sometimes price)
I think people are looking more to starting businesses. There are alot of developments going up. I think that is going to be the big money maker in the future.
Best of luck to you!
Andre'a
@reipowerhouse (428)
• United States
28 Mar 07
I couldn't agree with your statement more.
Diligence is the key to being a successful real estate investor so keep going and you will become a millionaire!
@mlhuff12 (797)
• United States
2 Nov 07
I think that whatever the economy is like, there will always be people making money in real estate. I agree with you though, that the best way to make a profit and constant cash flow will be the rentals. I'm just about to start up my own business as a real estate investor. So hopefully within 5-10 years I should be a millionaire. But I am only 25, so I have plenty of time to make it to a million. Starting up my first few propertys will probably be rehabs, then I will try to get a good multi unit rental property.
