How would thay have made billions. I know that there is a lot of money to be made in property but I diidnt know you could earn that much?
2007-11-08 05:01:41 · 4 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
Yes, but usually you inherit it and the land was owned by your ancestors i.e duke of westminister or
something valuble is discovered there like oil i.e. Saudi arabia
2007-11-08 05:11:22 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Its not too difficult if you start young or better still your grandparents started building the empire...property in London doubles in value on average every 7.2yrs they say but its an average...in the more expensive sought after areas it doubles every 4yrs as these areas are sought after by cash rich international buyers.
All seriously rich people put their money from business into property...to avoid huge taxes but also its the safest other than Bullion of course way to keep cash...and esp with UK being such a small island, and with the ridiculous planning regs property will continue to make some people very rich...
2007-11-08 21:39:35 · answer #2 · answered by Anonymous · 0⤊ 0⤋
If you doubt it, witness Donald Trump in the United States. There are TONS of money to be made in real estate investment for those who know how to do it.
2007-11-08 05:11:51 · answer #3 · answered by acermill 7 · 0⤊ 0⤋
It's all about location.
A few years ago, in Manchester (and lots of other places), there was lots of derelict factories and mills. These were bought for peanuts, and converted in to "executive" flats, going for maybe £150K each.
2007-11-08 05:12:11 · answer #4 · answered by Anonymous · 0⤊ 0⤋