About 80 percent of self-made millionaires made their fortunes by owning real estate. Economic wealth provides you with the freedom to choose the lifestyle you want to pursue. About 99 percent of self-made millionaires come from these four categories:

* Self-owned businesses (74 percent)
* Senior executive positions (10 percent)
* Doctors, lawyers, and other professionals (10 percent)
* Salespeople or sales consultants (5 percent)
The final 1 percent percent of self-made millionaires consists of people in all other areas¡ªinventors, actors, athletes, and authors.

Buying properties continue to make money for me, regardless of whether I'm physically there or not. That said. I'm certainly not advocating that you become an absentee landlord or that you neglect your properties; however, you don't need to spend 10 hours a day at your properties watching the grass grow (as is expected at most traditional day jobs). Once you've dealt with the major issues, your properties should operate smoothly (assuming that you did your homework, selected your tenants carefully, and addressed all major property concerns¡ªsee the chapters on selecting tenants and property management). For long periods of time I don't receive a single call from my tenants. I typically spend February in Florida, and I can manage my properties with a cell phone and laptop. Admittedly, there are other months when I do receive several phone calls, and there can be a significant amount of work required to properly manage both tenant- and building-related issues. In the beginning. I visited my properties every two weeks, regardless of whether they required any work. I've concluded that if my tenants think I'm never checking on them, they might do something they shouldn't. Sometimes only the paranoid can survive in this business. Whether it's a busy month or a carefree month, real estate offers a much more flexible life style than any other line of work that I'm aware of.

After you secure the basic human needs of shelter, food, and housing, you'll have the opportunity to pursue more noble goals only when you have the money to do it. If you have the financial resources, it's really up to you how you spend your time. Whether it's a busy month or a carefree month, real estate offers a much more flexible lile style than any other line of work that I'm aware of. I feel the need to advise new investors that, once you own a certain number of units, you'll start to fee! the pressure of both managing your portfolio of properties and working at your day job. I was able to manage both for several years. Everyone has a limit to the aggravation and stress he can endure, however, so be aware of what your own threshold is and learn to manage your time as best you can.

By investing in real estate, you will be able to control your own destiny and build a bright financial future on your own terms. Real estate is the basis for all wealth. Buying real estate is the best, safest way to become wealthy.

 

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