“I have always liked real estate; farm land, pasture land, timber land and city property. I have had experience with all of them. I guess I just naturally like ‘the good Earth,’ the foundation of all our wealth.” – Jesse Jones, entrepreneur
When is the right time?
The Timeless Value of Real Estate
The U.S. government has historically made some of the most lucrative land purchases in history:
- In 1867, the U.S. bought Alaska, the largest state, from Russia for just $7.2 million.
- In 1803, the Louisiana Territory, stretching from the Mississippi River to the Rocky Mountains, was acquired from France for only $15 million.
- In 1917, the U.S. purchased what is now known as the U.S. Virgin Islands from Denmark for $25 million.
As President Franklin D. Roosevelt once said:
“Real estate cannot be lost or stolen, nor can it be carried away. Purchased with common sense, paid for in full, and managed with reasonable care, it is about the safest investment in the world.”
Real estate thoughts
Attitude is everything in any kind of business. Like the old saying “Attitude is altitude.” In other words, the more positive your attitude, the better you’ll do in your investment.
The Power of Real Estate Investment
Real estate is widely regarded as one of the safest investments for investors. When approached with the right strategy and thorough evaluation, it has the potential to generate significant profits. This is why many individuals choose to make real estate investment their full-time career.
As Andrew Carnegie famously said:
“Ninety percent of all millionaires become so through owning real estate. More money has been made in real estate than in all industrial investments combined. The wise young [person] or wage earner of today invests [their] money in real estate.”
However, thinking you’ll succeed is not enough. Success in real estate requires both action and the right mindset. A great attitude and the ability to take action are two key traits of successful real estate investors. Below are other essential characteristics that investors either naturally possess or cultivate over time:
The Importance of Real Estate Investing Research
Research is essential when it comes to real estate investing. Gaining clarity in the marketplace is a powerful tool. Professional investors understand this and leverage it to their advantage, while novices are constantly seeking it.
Professional investors who understand the cycles of the real estate market and know how to conduct thorough research can often make more money in the long run than short-term flippers. The key to success is gaining clarity through the study of hard data and by asking the right questions.
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