You May Say…
Many of you will read the headline and say, “Sure I can” or “I’m already rich” or “I can retire in 5 years”. But you’re still not wealthy. If you are wealthy, then you didn’t get there by selling real estate.
You May Be Rich, But Are You Wealthy?
I know there are many super-successful Realtors who read and contribute to Agent Genius. There are probably many of you who are rich. I am certain several of these rich contributors achieved their riches by selling real estate. It is very possible to earn lots of income selling real estate. There are even some get rich quick schemes to choose from. But I’m not talking about the money you make, I’m talking about the wealth you create with the money you make.
Brokering real estate transactions can generate a lot of income and perceived riches. What you do with that income can create wealth for you and your family. No one becomes wealthy by just selling real estate. They invest their riches to become wealthy.
So what are you doing to build wealth? Do you invest in real estate, stocks, bonds, or do you spend the money you make and then try to go make some more? I know now is a tough time for many to talk about investments. We’ve seen the greatest free market system in the world lose 30% of it’s investments values this year. But you’ve got to do something with your riches to turn them into wealth. You can’t put them under the mattress and hope they grow in size.
You Can Become Wealthy Buying
I believe that real estate agents should buy real estate. Who knows the market better than you? Who sees deals hit the market before anyone else? Who can analyze the pros and cons of a property better than you? It only makes sense for you to be a real estate investor. Not only will it help you build wealth, but it will also make you a better agent. I’m not saying you should ignore buying stocks, mutual funds, bonds, cd’s, etc… Diversity is key to building sustainable wealth. But I am encouraging you to invest in what you know best.
How are you building wealth? I’d love to hear your methods in the comments below.