19, the Urban Land Institute (ULI) and PricewaterhouseCoopers (PwC) co-published the Emerging Trends in Real Estate report, which ranked the top of its
What are some little known ways to become ultra wealthy?
I suppose you want to be here ($30M+).
2/3 of the world’s wealth consist of two things Real Estate and Business. Let’s build our strategy around those two assets types.
Real estate requires initial capital + current market is red hot in its valuations. However, it is highly likely home prices in SF and Paris will be 3x-4x from current levels in 30 years. If you have $10M+ and ready to wait 30 years this is a hint for you.
Anyway, I suppose we will see a significant drop from the current level in 2019/2020 due to the financial crisis, thus today is the best asset to create is Business.
My formula is the following: create business/sell business/reinvest in real estate/create new business/sell it/reinvest in real estate.
How to create a business with high probability to be successful?
As you may know, there are two types of entrepreneurs – adaptors and innovators. My kind is an adaptor. It means I take an idea from one region (let’s say the USA), analyze it and transfer this idea to prospective markets like Russia or Vietnam.
Here is a step by step plan how to generate ideas and analyze it.
- Go to CrunchbasePro and analyze funding rounds for the past month. Select B, C, D+ rounds in order your business model and unit economics to be tested, and supported by investors. Go line by line. Analyze each company, revenue, business model and create a short list of ideas.
- Now you need to analyze your potential market. Reach experts via LinkedIn, write emails, make phone calls, buy analytics and experts consultations. Gather all information relative to your potential market.
- If you found a niche and demand you are ready to take a backpack and move to that country to set up your business. It is highly likely your idea will work, and local investors will support you.
You should not reinvent the wheel. Create a business, reinvest profits to real estate and do it as many times as you have energy.
Unfortunately, 99% are willing to pick a winning lottery ticket. My approach is about work.