Currently there is about 6.8 billion people in the world and out those people just 10 million households worldwide have at least $1 million US in invest-able assets excluding their own home. So why is it that such a small portion of people are actually doing well financially? The answer is simple. They found out what the rest of the world was doing and did the exact opposite. Most of us do what our parents did and their parents did before them. They get a job (any job will do), get a loan for a house and furiously try to pay the home loan off so one day they can own the title. Most property millionaires understand things a little differently. You see, you never truly own your home, and if you don’t believe me just stop paying your rates bills.
Most real estate millionaires build there wealth through leverage. Its all about control, not ownership, and as soon as you understand this the better off you will be. Instead of buying one home and paying it off as fast as they can, the savvy property investor will leverage themselves into controlling as many well located properties as they can. Risky you say, well life is full of risks, but whats more risky doing nothing and failing, or doing something and risking temporary defeat.
A good way to negate the risk of making the wrong choices when investing in property is to have a good team around you. The costs involved in hiring the right property professionals are more than paid for in the services they can provide in helping you buy the right properties for your investing needs at the best possible price and terms. Well over ¾ of the worlds millionaires invest heavily in property, will you be one of them?
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