One of my senior colleagues in property management said, “Real estate isn’t a yahoo, you can’t become a billionaire overnight”. And I agree with him.
Investing in real estate is designed to be a long-term: for personal use or business. If you want to trade, you hold for the short term. If you want to invest, you do it for the long term.
This is one of the investing principles of real estate firms. They buy, develop, and put them up for sales.
Warren Buffett is famous for saying:
“I never attempt to make money on the stock market. I buy on the assumption that they could close the market the next day and not reopen it for 10 years.”
By this, he’s saying that he wants to buy good, solid investments that will pay off over the long run.
You can also apply some of Buffett’s principles in real estate, if you’re an investor. The edge real estate has over stock is that it hardly depreciate.
A Chinese philosopher, Confucius, said, “If your plan is for one year plant rice. If your plan is for ten years plant trees. If your plan is for one hundred years educate children. ”
Are you planning for future? Think of real estate