Earlier this week, the annual Forbes ranking of the world’s wealthiest people was published and as always the following statements are all true:
1) They are all prudent business owners first and foremost!!
2) Not one of them is a foreclosure expert.
3) Renovating properties was not the method any of them used to became billionaires.
4) With regards to the few who mention real estate in their net worth, it is the product in their business and not the end all be all solution to financial freedom.
5) The ones who dabble in real estate (such as Larry Ellison), are getting their funds from their businesses and not joint venture partners.
6) Great business skills defines success in financial matters.
I have said it before and I will say it again. You make your money in businesses and keep it in real estate. Businesses are the true wealth creation engine around the world because nothing can match their leverage and cash flow potential.