A few of the highest-income people in the world got that way by investing in real estate. Over time, it has remained one of the best approaches to developing real wealth. Acquiring and managing real estate has helped everyday people make a fortune in every part of the country. Take a peek 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 act as inspiration for anyone thinking about investing in real estate.
For illustration, Donald Bren ($16.2 billion) established 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 by constructing residences in southern California, then joined up with other investors to purchase a large tract of land to plan and develop the city of Mission Viejo, California. He continued to build on his achievements, subsequently becoming the sole owner of the Irvine Company and earning his place as a real estate billionaire.
One more intriguing case study is Sam Zell ($6 billion), who made his money mostly via his stakes in Equity Lifestyle, an owner and operator of manufactured home communities and RV resorts. He also has large holdings in the apartment REIT Equity Residential. Zell grew up in Illinois and got his start managing an apartment building. He eventually 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 began his career as a busboy in Palm Beach, Florida. After a short time in politics, Greene started investing in real estate, mostly condos and apartment buildings. He made his first real money during the housing market crash of 2007 and 2008 when he used unconventional investing strategies that involved trading credit default swaps. The resulting returns put Greene on the Forbes 400 list. His holdings in Florida have even more recently soared in value, adding billions to his net worth in just the last year or two.
The one thing these three real-life investor stories have in common is that they all spent decades building on previous successful investments to increase their real estate wealth. While there’s no certainty that every real estate investor will become a billionaire or even a millionaire, the stories are common enough to demonstrate how much potential real estate investing holds.
Trying to start in real estate investing can seem like a distant ambition. But with a little forethought and some hard work, it can become a reality for anyone who wants it badly enough. Numerous experts recommend starting by buying a residential rental property. They seem to be more affordable compared to bigger real estate investments and offer the potential for both positive cash flows and appreciation. However, to be fruitful in real estate, you must also have the proper team of people on your side, eager to assist you in making the most of every investment.
That’s where Real Property Management Varanasi can assist! We work with rental real estate investors to provide market assessment, quality data, and Exton property management services. We can also assist you in finding great off-market deals on your next investment property. Contact us to learn more.
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