I just got back from a vacation in Switzerland. And while I was there I tried to network and meet with as many folks as I could.
I ended up meeting with several millionaires and multi-millionaires and of course, I wanted to find out how they made their wealth and what they were doing today. Many of them were invested in the stock market, many of them had gold investments stored in Swiss vaults and many of them owned real estate.
Now, none of this is too surprising, however, several of the people I talked with were investing in U.S. real estate today. With the dollar losing value every single day, foreign investors are getting the deals of a lifetime in today’s real estate market.
But, it wasn’t just foreign investors doing this. Smart Americans who I talked with are doing this too.
My point is, I still know people who are scared of real estate, who love to “talk the talk” about how they’re going to invest but who are not investing in today’s market.
If you’re not buying houses now, then you’re going to be one of the millions of Americans who says 5-10 years from now, “If only I’d…”
Personally, I’m still buying houses every month, as long as the numbers work. Just last week I picked up a great sub-2 deal for no-money down and I try to do sub-2’s and lease options as often as I can.
Another item I picked up on in Switzerland is that the majority of people I talked with were long-term investors. If they bought stocks they held them for years, same thing with the gold they invested in and in real estate.
In fact, that’s the real “secret” of getting rich in real estate.
If you truly want to be wealthy you have to invest long-term. For example, many people I work with are picking up 10-20 houses in today’s market at dirt-cheap prices.
They plan to hold these houses forever and pay down the mortgages over the next several years. Once these mortgages are paid off in full, these investors will have $10,000 or more coming in every single month for the rest of their lives.
In today’s economy there are few “sure bets.” You can’t rely on a pension, you have to be responsible for your own retirement. If I were you, I’d take a page from the wealthy Swiss and start investing in U.S. real estate for the long-term.