7 Assets That Will Make You Rich – Fully Explain
Best Assets To Build Wealth – Complete Guide
We provide you with business ideas every day and some tips on how to grow your business, and today we will give you some tips from Best Income Generating Assets.
Friends, today we will give you some suggestions about asset, today we will give you 7 such suggestions about asset, if you follow the suggestions, then you too can be a rich person. So you read our whole post carefully.
Wealthy people invest in assets all the time, and middle class people keep money in banks. Assets are things that earn us money for which we have to work much less or work once.
#1 Real Estate
We put real estate first, because the richest person is a millionaire from real estate. Real Estate Wealthy people invest money in two ways 1) Flip 2) Hold real estate
This means buy the property at a lower price than the market price and after a few years improve the land and sell it again.
Example: If a property has a garbage dump and no good drainage system, then no one wants to buy that property, then an intelligent professional property dealer buys that property at a lower price. Later, the property dealer invests some money in the land, cleans the landfill, builds a good drainage system, and builds a wall on the land, then sells the land a few years later.
2) Hold real estate
But the flip is not so impressive, because it is a one-time payment which means you only get one benefit from this property. For this reason, real property dealers and actual investors do not do this. The real property dealer is the person who holds the property, which means he never sells the property, but makes it his own asset and starts making money every time. Holding the property gives us 3 benefits – I) O.P.M. II) Appreciation III) Tax Benefit.
I. Others People Money (O.P.M)
Others People Money (O.P.M) means to create wealth in other people’s money. Real estate is the only thing where a bank loan can be matched much faster than other assets. No bank will pay us to buy company shares, but you will get a real estate loan.
Appreciation means that if you hold the property without selling it, the price of the property will definitely increase for this long period of time, which means your Net Worth will increase your wealth.
III. Tax Benefit
If I hold the property, I will get my tax benefit, because when we have a rental property, the government has a life for that property for example 65 years is the life of the property, we will understand it through an Example.
Example: Suppose a person buys a property for Rs 90 lakh where there was a building, out of this Rs 90 lakh, the land was worth Rs 25 lakh and the building was worth Rs 65 lakh, then the government thinks that the life of that building is 65 years. Millions of rupees will be tax deduction. A self-employed person will continue to pay taxes, and this person will continue to live on tax.
#2 Buy Shares of a Company
For those who have knowledge of investing, it is a good platform to make money, but for those who have no knowledge of investing, buying shares can be risky.
Successful investors say that every common man gets a minimum of two to three opportunities every year to buy shares. But for that the person has to see the thing that is happening around him, which means you have to see which company’s product is selling more or which company may increase later or in the future, when we get such a signal we need to see that company is publicly listed. Whether that means the company’s chairs are being sold. This does not mean that you will immediately buy the shares of that company, it means that you have shortlisted those companies then you need to know more about those companies, then if you see that buying the shares of that company will make you profit then you Buy shares of that company.