Extraordinary wealth requires extraordinary action. America produced more millionaires during the Great Depression of 1920’s than at any other time in history. Real estate was the magic word then, and real estate is the magic word now. Like it or not, it has always been that way. Hard work is important and there is no substitute for it. Immense wealth = hard work + sharp investment acumen. The following is a post to 3333 Main by Brabble Director of Business Development Patrick Mackaronis, a thought leader in the field of entrepreneurship in New York City.
Patrick Mackaronis: “Real Estate for Investment is the Ideal Choice”
Real estate is finite. Land is not infinite, and good quality land is extremely limited. Land has historically been the truest source of power and wealth in the world. It is a fundamental fact that has not altered today. The form of real estate investments has changed, but the essence remains the same.
Property, whether in the form of a private house, an apartment, a retail store, a commercial office, a factory, or simply farm land, ultimately pays a high return. There are phases of economic slowdown that can seem to be interminably long, when real estate undergoes a slump. But the winner in property investments, in the long run, is the one who has two critical qualities: holding capacity and patience, states Patrick Mackaronis.
Returns on Investment in Real Estate
Real estate is essentially a long term investment. Traders who wish to make quick gains in the property market may make quick losses as well. Real estate is a fixed and immovable asset not ideally meant for daily trading. Anyone who makes a property investment should not expect quick returns on investment. It is a field for those who are not looking for short term money making, but are keen to create powerful wealth within their lifetime.
Real estate usually does not create overnight millionaires. It is said that you may not live as a millionaire when you invest in real estate, but you will certainly die a millionaire. Real estate is an asset for generations to come. It continues to appreciate as overall development and progress happens. The best part is that real estate produces rental incomes that deliver you monthly returns, and at the same time it appreciates in its capital value.
Spotting a Real Estate Opportunity
Real estate produces super wealth when you are able to spot the right opportunity at the right time. The cardinal rule of long term investments in real estate must be to get in when nobody is ready to place their bets on that area. You have to evaluate the location before anything else. Location, location, location is the ultimate mantra of success with real estate investments. The location is strategic where future development is bound to take place, says Patrick Mackaronis.
If everyone is rushing to invest in a certain location, it is best to avoid that option. You can expect to make only marginal gains in such a scenario, and the chances of making a loss are high if it is a bubble that is inflating because everyone is going after it. What you need is painstaking amount of market research to identify some quiet or sleeping real estate opportunities. Get in touch with top notch real estate consultants who understand the business, and explain to them your goals. Let the final decision be your own after careful evaluation, and not of the consultant.
Right Time to Invest
In difficult economic times when the real estate is going through an agonising slump, for a shrewd investor it is the sweetest time to strike. Roads less traveled build incredible fortunes. That requires courage, self-belief, optimism, extensive market research and analysis, and the ability to take extremely well reasoned and calculated risks.
Patrick Mackaronis is the co-founder and Director of Business Development for social media startup Brabble. For more information, visit Patrick Mackaronis on Twitter at @patty__mack.