Who is a real estate investor?
Economists believe there are four basic sources of wealth: land, labor, capital and entrepreneurial ability. There’s no shortage of seminars, books and tapes which explain in glowing detail how you too can become rich with real estate, even if you lack experience, cash or credit. While program developers always have success stories to share, they never say what percentage of their readers, attendees or listeners actually become rich. The reason, of course, is that the real money is not in real estate, it’s in seminars, books and tapes. But get-rich-quick plans aside, real estate has been a major source of personal wealth for many people. Long-term holders of real estate have commonly benefited from property prices which have increased faster over time than the rate of inflation, thus creating increased buying power and real wealth. According to the National Association of Realtors, the median price of an existing home rose from $124,800 in 1998 to $201,100 as of January 2008. It’s not
