Advertisement
Canada markets closed

  • S&P/TSX

    21,875.79
    -66.37 (-0.30%)
     

  • S&P 500

    5,460.48
    -22.39 (-0.41%)
     

  • DOW

    39,118.86
    -45.20 (-0.12%)
     

  • CAD/USD

    0.7312
    +0.0011 (+0.15%)
     

  • CRUDE OIL

    81.46
    -0.28 (-0.34%)
     

  • Bitcoin CAD

    83,015.43
    -1,409.02 (-1.67%)
     

  • CMC Crypto 200

    1,264.97
    -18.86 (-1.47%)
     

  • GOLD FUTURES

    2,336.90
    +0.30 (+0.01%)
     

  • RUSSELL 2000

    2,047.69
    +9.35 (+0.46%)
     

  • 10-Yr Bond

    4.3430
    +0.0550 (+1.28%)
     

  • NASDAQ

    17,732.60
    -126.08 (-0.71%)
     

  • VOLATILITY

    12.44
    +0.20 (+1.63%)
     

  • FTSE

    8,164.12
    -15.56 (-0.19%)
     

  • NIKKEI 225

    39,583.08
    +241.54 (+0.61%)
     

  • CAD/EUR

    0.6820
    +0.0003 (+0.04%)
     

Grant Cardone and Houston Rockets Owner Tilman Fertitta Explain the Secret To Getting Rich

Cindy Lamothe
·2 min read
©Grant Cardone
©Grant Cardone

Every successful businessman has their secret to getting rich. In a recent talk between renowned speaker Grant Cardone and American billionaire Tilman Fertitta posted to X — formerly known as Twitter — about their love of real estate, they opened up about how this love has contributed to their success.

Find: 10 Affordable US Small Towns With a Great Quality of Life
See Our List: 100 Most Influential Money Experts

“What’s happened is everyone’s realized the real estate is worth more than anything,” noted Fertitta. “My theory has been if somebody said ‘how did you become worth so much money?’ it’s because I’ve never sold anything.”

ADVERTISEMENT

“I’ve watched the value of real estate and assets go up and up and up. And so I’m not a seller. Because I think great wealth is created by not being a seller. Just look at the appreciation and inflation of everything.”

Other experts agree with him. For many affluent Americans, real estate is still seen as the safest way to build wealth — a way to provide financial, emotional, and psychological security. Real assets like real estate also tend to be a hedge against inflation because they can appreciate in value as the cost of living increases.

“Real estate is the best investment one can ever make,” Jade Mills, president of Jade Mills Estates, told Fast Company. “I don’t just sell property, I own property too, and it has done nothing but go up. For example, there are certain areas in California where prices never really go down. You just don’t make that kind of return on investment in the stock market,” Mills explained.

Also: Grant Cardone Reveals 6 Cities He Would Buy Investment Property in Right Now (and Where He Would Avoid)

Focusing on accumulating real estate, however, is easier said than done. While 23% of Americans believe real estate is the best way to build wealth, only 12% bought last year — cost being one of the primary reasons they don’t invest more, per CNBC.

While real estate can be an ideal way to get rich, it’s important to note that being successful requires knowledge of where to invest, careful research, and a long-term investment perspective.

More From GOBankingRates

This article originally appeared on GOBankingRates.com: Grant Cardone and Houston Rockets Owner Tilman Fertitta Explain the Secret To Getting Rich