In your opinion, what separates the average millionaire real estate investor from the tycoon real estate investors? What do the tycoons possess that all the others do not?
DC group that is a very easy answer.. what separates
the Millionaire investor from the average investor is a couple of things
first off experience, wisdom and knowledge of the business are all keys.
secondly the willingness to learn, preserve and desire to never give up..
this is the case with whatever you do in life..their are tons of books
on this subject.. the average person will throw in the towel and want overnight riches.. it doesn't work that way..
the Millionaire or Tycoon investor unless they inherited their foturnes, started at the bottom and it was their mindset that took them to the top..
they didn't allow negative and ignorant people to stop them from acquring their dream. they kept themselves around other wealthy individuals and or investors..
DC Group, that's a great question and sircaesar, that's a great answer.
As far as specifics of the investing itself go, I believe the majority of the greatest investors understood and understand leverage well. They know how to balance it and use it to their advantage.
I personally believe leverage is the secret to large amounts of wealth and growth and any major players I read and trust say the same.
Landchasers, wow I totally agree, it makes perfect sense..
People Like Donald Trump, Robert Kiyosaki, Carlton Sheets, are examples of knowing how to leverage..
What also intrigues me about some of these real estate moguls is how some of them come from nothing and built an empire to an excess of hundreds of millions of dollars.
For example, David Lichtenstein, Founder of Lightstone Property Group, started out with a duplex which he put on his credit card 18 years ago, and is now one of the biggest private owners of real estate in the U.S.
The guy is only 43 years old, started with nothing, and has exploded his company to $3 billion in holdings. How is it possible to acquire this much property in such a short period of time? I know that he has obviously leveraged a lot of his time and money but to go from $0 - $3 billion dollars in his company portfolio is outstanding.
Dc group thats a great question to inquire about, and one that we all as investors will soon find out.. I encourage everyone to read and invest in as much real estate knowledge as you can..especially free real estate knowledge. Donald Trump and Robert Kiyosaki have a new book out which they are bo co-authoring..
as I stated above, becoming successful means learning from successful people, their ups and their downs.. not everyone realized or even achieves their full potential. the people on the top are their for a reason..because they made certain sacrifices, and failures, and did not give up.. failure is the beggining to success.. if you don't learn, you don't earn! the trick is getting up and learning from the failures.. its all part of growth and process. Most of you guys are arleady millionaires.. its only a matter of time :superman: