How Did Self Made Billionaires in Real Estate Make Their Money?

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Leigh York, view:
In real estate, you make your money when you buy.  I suggest rental property.  In the long run, it makes more money and it gives you leverage to purchase more property.  Start with one and gradually buy more as you can afford it.  You're not looking for properties that are in distress or need a great deal of work.  You're looking for properties that will rent quickly at 10% or more above your carrying costs (payment with taxes and insurance, property manager).  Don't spend the profits to live on.  Save them.  You'll
need them for maintenance, vacancies and more property.


Joseph Philleo, view:
Many of the wealthiest real estate moguls are Chinese  [1] (Lee Shau-kee, Cheng Yu-tung, Wang Jianlin). and appear to have made their fortune through utilizing great connections, adroitly navigating the political landscape, and riding China’s amazing economic growth story.

Other real estate billionaires have typically made/inherited a small amount of money in a variety of ways and then placed heavy bets in large assets like skyscrappers, islands, casinos, etc. More recently, companies like Blackstone have begun gobbling up huge amounts of small rental homes as a way to enter the real estate market.

The key, however, is leverage. If you put a 10% down-payment on a $300 million skyscraper that then increases in value by 20%, you’ve just made $60 million or 200% of your principle.


Ng Kah Wai, view:
There are numerous ways to make money off real estate but the main gist is flipping (buy low and sell high). Investors should only purchase future development if they expect an appreciation in value as property approaches completion.

One of the methods investors practice cash out refinancing. It involves restructuring of a loan to a new loan with new features.


My view:
Believe in yourself.
Have vision and plan.
Show honesty.
Work with expert (realtor) or Real estate firm to gain knowledge.
Invest your money or time.
Finally, be prayerful.

Good luck. 

Comments

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