What type of business has money in it?
That would probably be a very difficult question to answer since everyone that would look at this question might have their own answer based on their interests, likes, dislikes, fears, and experiences.
But when it comes to what I have seen bringing in the money, it has to be digital products, distribution of products to food stores, restaurant, and the favorite of every single millionaire I have spoken to, property!
I was speaking to a Pakistani millionaire in Norway and he said that if I had the chance to turn back the clock, I would invest every single penny into property. When I read various books about successful people, that’s the same line I read there as well.
Property is something everyone needs, it increases in value on an annual basis, and sometimes even quicker. Plus it gives very good returns in very little time.
How they are making money from property?
I have seen various businessmen working specifically within the renting area within property management, but the more successful ones are those that buy plots and other places and turn them into flats for resale. I saw an incident where the property was purchased and it got approved with residential permit, making it 4 times more valuable. So the businessman who put in 100 million kroner, made 400 million out of the property.
I was speaking yet another entrepreneur and he was talking about a few deals of a few hundred million kroner as well on a few purchases they made few months back.
So what to do?
Well, I would recommend, if you have an option of putting money into something, then let it be property. Be wise and get all the paperwork done, but this is one field that isn’t going downwards (depends ofcourse where you are located)
Buy to rent, or buy to renovate and then sell again to make the profit.