Are you considering diversifying your investment portfolio? If so, real estate is a category well worth considering. Some of the world’s richest individuals have made their fortune from real estate. Many of them, started from humble beginnings and quickly rose to prominence.
Donald Bren, an 87-year-old multi-billionaire, started out with a $10,000 loan and quickly grew it into a massive empire. By building a strategically chosen portfolio, Bren has acquired property throughout California as well as in New York City. In addition to his incredible success in business, Bren is a well-established philanthropist who has donated millions to causes including environmental conservation and medical research.
Stephen Ross worked as a tax attorney and in corporate finance before founding The Related Companies, a company dedicated to real estate development that employs approximately 2,000 people. Over the course of his career, he has expanded the company throughout the United States and the world. His investments are not limited to real estate: they also include an NFL team (the Miami Dolphins), Equinox Fitness, and SoulCycle.
Harry Triguboff, nicknamed “high-rise Harry,” was born in China and now lives in Australia. Over the course of his career, he has managed to build approximately 80,000 apartments in Australia, which amounts to 10% of the apartments that exist in the entire country. He is the managing director of Meriton, Australia’s largest apartment developer.
Although the world’s billionaires are few and far between, it is possible for most people to make a significant profit by investing in real estate. Do not be afraid to start slowly, since moving too quickly could cause you to make mistakes that would otherwise be avoidable. Always read the fine print before signing any agreements, and be sure to avoid going into too much debt whenever possible.