Why 90% of All Millionaires Make Their Fortune Through Real Estate
People who end up as millionaires usually do so by starting their investment regimes at a young age. It takes proper planning, educating oneself and having strategic alliances with good advisors. For the wealthy, having a large part of their portfolios dedicated to real estate investment is a must. It is a well-known fact that 90% of the world’s millionaires have made their fortunes through their timeous investments when buying, selling and renting out properties.
Getting Started with Real Estate Investment
Investing in real estate is a reliable wealth-building strategy and you certainly do not have to do all the legwork yourself. The best decision you can make is to align yourself with a trusted real estate agency. When you appoint a reputable agent or agency to help you make your fortune, you will benefit from decades of experience, trust and a well-known and respected name.
A good agent will spend their time sourcing perfect properties for you according to your budget, seeing to the finer details and thus set you free to pursue other avenues of making money. Buying and selling property is low-risk and high returns, unless you go out on your own and make some dubious decisions such as buying the wrong properties or overextending yourself. If you invest wisely, over time you will be able to use the properties that you have as leverage to buy more real estate and thus build your wealth. Re-financing is not taxable, so you win all the way.
Real Estate Investment Scene in Malta
In Malta, a great number of people and families have acquired their fortunes through property. One of the best ways of growing wealth is to buy properties to rent them out. The rental income will usually cover any interest amounts on outstanding loans plus the property will be appreciating in value over time with all the profits ending up being yours when you decide to sell one day. Most people tend to hang on to their real estate assets, as the more you pay off on what you owe on the property, the bigger your profit margins are. This will allow you to buy more and more homes over time and if the same successful recipe is repeated over a few decades, you will end up with many properties and a very wealthy person indeed. Real estate values always go up over time as the very bricks and mortar they are constructed of costs more every year, so your property will almost always be likely to increase in value.
Working with the Right Agent
If you want to make it as a millionaire property investor, surround yourself with an excellent team: expert agents, specialist tax advisors, brilliant notaries and make sure you have a very good and personal relationship with your bank. By having all of these essentials lined up and by nurturing the relationships over the years, you are guaranteed to make it to the top…and making it there will mean that a big chunk of your portfolio will have to come from real estate investments. Choose the best agents to represent your interests from the start and you will already be halfway there!
All of Frank Salt Real Estate’s agents are highly trained, highly skilled and knowledgeable about the areas they operate in. In addition all of them are fully qualified professionals who went through rigorous formal training as required by law, wrote exams and subsequently also attended thorough in-house training courses given by the company before they are allowed to act as an agent or broker. All agents undergo refreshment courses to keep up with the latest laws and legislation annually or when necessary so they are the best qualified to assist property millionaires-in-training or already successful and wealthy investors to do even better in their real estate endeavours.
Start building your wealth today and give Frank Salt Real Estate a call. All advice is free, non-obligational and backed up by more than 50 years of experience in assisting buyers, sellers, landlords and tenants when it comes to anything to do with Malta property.