According to these nine advisors in The Oracles, real estate is still one of the best investments!
According to these nine Advisors in The Oracles, who made millions by investing in real estate, the answer is a resounding yes.
“Owning made me rich.” – Barbara Corcoran, Founder of The Corcoran Group
“Buying real estate has made me rich — mostly through necessity, not by design. I bought my first itty-bitty studio after scraping together a few bucks because I needed to live somewhere anyway.
A few years later, the studio doubled in value, giving me enough cash to plunk down 50% on a one-bedroom apartment. That soon rolled into a two-bedroom, then a three-bedroom, and finally landed me in my 10-room penthouse on Fifth Avenue in New York City.
Buying that tiny studio was the most important decision I made because it got me in the game.”
“Residential properties can generate income year-round.” – Bethenny Frankel, Entrepreneur, Founder of Skinnygirl and BStrong.
“Investing in real estate is a great idea if you are in it for the long haul, not a quick return.
Your best bet is investing in residential properties that produce rental income year-round.Just make sure you understand all of the associated legal fees and are prepared for unexpected costs.”
“The right investment will continue to appreciate.” – Grant Cardone, sales expert, New York Times best-selling author.
“Real estate is real, and it’s always a good idea to put your money in real assets. But let me be clear: That doesn’t mean that all real estate is a good idea.
I only buy certain types of properties, generally multifamily ones in upscale locations that provide consistent cash flow and great potential for future appreciation.
I stay away from low-income areas and single-family homes. But even those assets are probably a better place to store your money than letting cash depreciate while sitting in the bank!”