Growing wealth, to some, is about making money. But to others, it means doing something that gets you rich always. Whichever way, we believe there’s more to wealth growth than just the money.
More often than not, people tend to ignore the fact that wealth creation and wealth growth are not entirely the same. While the former might seem a little bit ‘easy’ (of course, there are lots of money-making schemes out there), the latter requires a lot more discipline and inculcation of certain habits.
To grow your wealth in 2021, you need insights from experts like Jacques Poujade. With several years of experience in real estate and real estate investing, there’s no doubt Jacques is one of the best persons to receive such insights from. He’s got all you need to know to pull through these times financially.
In our recent chat with the top real estate investor, he revealed certain helpful tips for growing wealth in 2021. And that’s exactly what we’ll be sharing with you in this article. Enjoy!
How would you describe real estate investment to a newbie?
Essentially, real estate investment involves the buying and owning of real estate for profit. But it doesn’t work the way a lot of people assume it does. There are many hidden rocks most investors aren’t aware of, and these make them lose money in several different cases.
In all, investing in real estate requires the right systems, advice, and ultimately, the right determination.
Do you think the COVID-19 pandemic had an effect on real estate market?
It sure did. To be frank, the covid-19 pandemic affected nearly every industry, including real estate.
There’s hardly any sphere that hasn’t had its course altered by the outbreak. But then, certain feats were achieved in real estate in 2020 that were not achieved in the pre-pandemic years.
What should investors expect from real estate in 2021?
Well, chances are high that 2021 would be as strange a year as 2020. Even though there seems to be some light at the end of the tunnel—vaccines are rolling out and lots of advancements are being made in the health sector—it is unlikely that the economy or even real estate will return back to its original state.
And so, among other things, investors should expect trends of urban migration and house flipping come 2021.
How can people grow wealth from real estate investment?
There are quite a number of ways to grow wealth from real estate, but the most common is appreciation. Simply, you allow the value of your property go up. Once you get a property, leave it till it appreciates; and then sell it at a higher rate. Repeat this cycle and you’ll soon become a billionaire.
What advice would you give to real estate agents in times like this?
Nothing much. Just ensure you don’t lose your clients’ trust. It’s important. Now is the time to communicate with clients and interact more effectively. Anything short of that could mean hell.