Some of the richest people in the world ended up this way by investing in real estate. Over time, it remains one of the finest methods to create genuine wealth. Purchasing and holding real estate has helped everyday people make a fortune in every part of the country. Just check at the real estate billionaires on the Forbes 400 list. While not every billionaire on the list began with nothing or even made their money exclusively in real estate, there are 24 real estate tycoons on this year’s Forbes 400 list that may serve as inspiration for anybody considering investing in real estate.
For instance, Donald Bren ($16.2 billion) developed a real estate empire in California and founded the massive Irvine Company, owning more than 126 million square feet of real estate, more than 560 office buildings, and 125 apartment complexes. Bren began off constructing homes in southern California, then joined with other investors to acquire a large tract of land to plan and develop the city of Mission Viejo, California. He proceeded to expand on his triumphs, eventually becoming the sole owner of the Irvine Company and earning his place as a real estate billionaire.
Another motivating case study is Sam Zell ($6 billion), who made his money mainly via his stakes in Equity Lifestyle, an owner and operator of manufactured home communities and RV resorts. He also has major holdings in the apartment REIT Equity Residential. Zell grew up in Illinois and got his start managing an apartment building. He subsequently bought out the building’s owner and then went into apartment building development with a partner, investing in places as diverse as Toledo, Ohio, and Reno, Nevada.
And then there’s Jeff Greene ($5.1 billion), who started out hustling as a busboy in Palm Beach, Florida. After a brief time in politics, Greene started investing in real estate, particularly condos and apartment buildings. He made his first real money during the housing market crash of 2007 and 2008 when he employed unusual investing strategies that involved trading credit default swaps. The resulting returns landed Greene on the Forbes 400 list. His holdings in Florida have even more recently grown in value, bringing billions to his net worth in just the last year or two.
The common factor among these three real-life investor stories is that each one of them spent decades building on previous successful investments to create their real estate wealth. While there’s no assurance that every real estate investor will become a billionaire or even a millionaire, the stories are prevalent enough that it indicates how much potential real estate investing contains.
Getting started in real estate investing might feel like a faraway dream. However, with a little preparation and some hard work, it can turn into a reality for anyone who wants it badly enough. Many experts recommend beginning by buying a residential rental property. They appear to be more affordable than bigger real estate investments and provide the possibility for both positive cash flows and appreciation. However, to be effective in real estate, you also need the right team of people on your side, willing to assist you in maximizing every investment.
That’s where Real Property Management Main can help! We engage with rental real estate investors to give market assessment, quality data, and Birmingham property management services. We can even help you find great off-market deals on your next investment property. Contact us to learn more.
We are pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity throughout the Nation. See Equal Housing Opportunity Statement for more information.
