Are you eager to make millions from investing in real estate? How about going from broke to billionaire? A similar path to riches may not be far from the truth. Knowing which niche to invest in could change your entire career.
In particular, one investor has recently made this scenario a reality. By investing in an obscure real estate niche, one individual managed to go from bankrupt to billionaire. Who was it? How did they do it? What real estate investment education lessons can you take from this?
As the headline of a recent Bloomberg News article, “Billionaire Doubles Fortune” has caught the attention of the entire industry. The story is that of Mark Dixon, the founder of Regus. The firm and the founder’s shares have rocketed recently, while revenues rose to almost $1 billion in the first six months of 2013. This is particularly encouraging, seeing as how this company was bankrupt in 2003.
This is a scenario in which many individuals can relate. It is also an incredible case study that gives hope to all, even those that experienced massive losses after the housing bubble crashed eight years ago.
It suggests that there is a chance for everyone to not only make a great living as a real estate investor, but to elevate their profits beyond that of which they imagined. However, it would be beneficial to know how this can be done. Familiarize yourself with the following investment tips to help your business succeed:
1. Education
Dixon is another case study associated with wildly successful entrepreneurs, investors and billionaires that were high school drop outs. This proves that there is hope for all aspiring investors, even if they weren’t privileged Ivy League graduates. However, you can bet that the Regus founder would absolutely recommend a serious investment in your real estate education. Without a solid foundation, you are only hurting yourself.
2. There is Always Opportunity
Regus managed to thrive through some of the toughest real estate markets in recent history. However, according to Dixon, “a slowdown is as much an opportunity as a threat”. In fact, many of the biggest fortunes have consistently be made in down times. As an investor, you should hear this and be encouraged. There are always deals to be made. It is up to you to take advantage of them.
3. Don’t Get Discouraged – Get Busy
A slowdown, or even a total breakdown, in finances isn’t reason to throw in the towel, beat yourself up or give up on your dreams. There may be a time for taking serious inventory, evaluating what worked, what didn’t, and what could be done better next time. Most importantly, it’s time to get busy and keep moving forward.
4. Embrace New Trends
Regus and Dixon have both made embracing new trends a priority, which has paid off incredibly. Not only was the company a leader in the executive suite space during the early 2000s, it has also managed to keep evolving with emerging trends. Neglecting the path of the real estate industry will be a quick demise for any business.
5. Own a Niche
Regus owns a very tight niche in the real estate industry. It isn’t just holed up in the commercial real estate sector, or office, but in the sub-niche of flexible workspace. This doesn’t have to be a niche you love or move into, but shows that huge profits can be made even in small niches.
6. Create a Solution
Find a problem and solve it. Mark Dixon kicked off his career by recognizing the challenges of business people working in coffee shops and not wanting to fork out for full offices. What need can you come up with a solution for?
