What a true statement! It goes back to the old game of Monopoly… you simply own the property and collect money or if your a Tenant you will simply be paying an owner … it’s called rent!
You either own real estate … or pay those who do.
In America, most homeowners have recouped either all or a good majority of their monthly mortgage payments, taxes, insurance and upkeep through appreciation overtime! Many long-term homeowners actually made a hefty profit on their homes when it came time to sell 10,15 or 20 years down the road!
As history will also prove most renters recoup absolutely nothing! As 100% of what they paid in rent is simply money thrown out the window! A tenant is actually a slave to the landlord. Here’s why… Most tenants work to simply pay their rent of which that rent is applied to the landlords mortgage increasing his wealth each and every month!
Renters they didn’t fare so well, although they did make their landlords rich by contributing to paying off the landlords mortgage, paying a percentage of the landlords property taxes, insurance, and maintenance etc.
This is the sole reason why real estate people are the richest people in the world always have been and always will be! Most savvy real estate owners use other people’s money when buying property and collect other people’s money to pay the expenses and caring costs of that property, such as their tenants.
Wealth is Created over Time
I could go on and on about how wealth is created overtime in real estate from owning apartments, commercial properties, or even single family homes as rentals! Although, a simple observation should be able to tell the story. Those who own real estate usually become self-sufficient, financially independent, or extremely wealthy depending on the amount of property that they control along with other factors.
Those who don’t own real estate usually do not end up wealthy but yet live to make their landlord wealthy!
About The Author
- Robert Louis Annenberg Is a 40 year seasoned property owner, manager, investor, builder/developer and business man who is also an author of five published books to date (Amazon.com) and the chief editor of LifeQuestJournal.com. He can be reached at: Info@RobertAnnenberg.com and (201) 289-2500.