The West African country of Nigeria is made up of about 30 states, some of which are very rich in oil. These resources are naturally very attractive to the world’s largest oil companies.
In fact, the Premier of one of these states was recently courted by one such multi-national oil company.
His offer: give me an undercover payment of $12 million per week and I’ll allow the oil to be mined and taken out of the country. Politics and ethics aside: wouldn’t it be nice to receive that kind of money? Think want you could do with $12 million a week (a week!)
While all of us are waiting to become as lucky as that Nigerian Premier, all we can do is our best.
Often our best is much better than we think it is. The laws of capitalism and using leverage can take you to that same level of wealth as the Nigerian Premier over time.
The secret is the ongoing ownership of a sufficient number of growth assets. Put simply, the secret to amassing great wealth is “using a little bit to own and control a lot.”
Growing wealth by investing in real estate
One of the most proven methods of using a little money to generate a lot of money is investing in real estate.
By using a small deposit, you can own a property that will start to generate ever increasing rental income, generate tax deductions and growth in value. That rental income can be used not only to pay off the loan on the property, but also to pay off subsequent rental properties that will, in turn, generate even more rental income. As time goes on, investors find it easier and easier to acquire more and more properties and other growth assets and income sources.
Real estate investing can put you in control of your life while you build wealth. You’ll be able to stop working long hours and spend time doing the things you enjoy, like being with your family or going on holiday. Once you see how it works, and watch the progress over the initial years, it’s likely you will be keen to continue implementing these strategies and systems on an ongoing basis.