What advice from Warren Buffett made you rich
Warren Buffett: This is the wisdom real estate investors should know
The majority of the really rich people in this world have bet on real estate. Scientists have been able to find this out time and again in studies. In fact, 9 out of 10 millionaires owe their wealth to real estate.
Now there are some outstanding investors who do not rely on real estate - but real estate investors can still learn something from them too. One of the most successful investors in history is certainly the world-famous Warren Buffett. For this reason, real estate investors should know some of his wisdom:
Warren Buffett: Real estate investors can learn that from him
The US investor from tranquil Omaha in the Midwest has been at the helm of his private equity firm Berkshire Hathaway for 50 years. His main focus is on stocks. In the real estate sector he is very reluctant. This can also be seen in his personal lifestyle. He still lives in the house he bought in the 1950s.
But what makes Warren Buffett so successful? For years now, he has only made investments in the areas in which he is well versed. This is a simple rule that an investor can also use for real estate investments.
The potential must remain assessable
What good is it to an investor if he is offered a listed property in Leipzig by a young dynamic representative, the potential of which he cannot estimate at all.
So far, he may have invested in smaller residential units in his home. But then he should also focus on expanding investments in this segment.
Wisdom from Warren Buffett: Make the most of profit leverage
Warren Buffett has a number of other wisdoms that apply not only to stocks, but also to all kinds of investments in general. How about, for example, the following quote:
“Never rely on getting a good selling price. It is better to keep the purchase price so low that even a mediocre sale brings a good result. "
A tip: cheap shopping brings positive returns
This is exactly where there is actually a great profit lever for investors in all industries. Buying new properties cheaply can have an extremely positive effect on medium to long-term returns. Therefore, patience is an extremely important quality for real estate investors.
So one piece of advice to you (which Warren Buffett would surely subscribe to) is: Don't jump on every moving train and keep going with rising prices. It is better to wait for the chance to take over really lucrative properties in order to achieve such a high return.
Do it like Warren Buffett: stay calm! Investor legend Warren Buffett was quite calm in a recent interview about the current corona crisis. > read more
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