Follow the Billionaire

Every once in a while someone tells me that their friend, their spouse or their uncle Bob from the burbs doesn’t agree with this whole “great time to buy U.S. property thing.” I have no problem with that. Everyone is entitled to their own opinions. And yes, they are entitled to share them.

However, the question you need to ask yourself when you run across one of these dream smashers is, are they speaking from a position of knowledge and strength, or are they just shooting from the lip?

Let me ask you something.

If a billionaire said to you “Here’s what I’m doing. Here’s why I’m doing it. If you like I’ll tell you so you can do it too,” would you listen and take action. Most people would. Uncle Bob from the burbs might not.

So what are the billionaires around the world doing these days?

The prestigious publication Economic Times reports today that: “Russian billionaire Mikhail Fridman, the owner of financial conglomerate Alfa-Group, is set to invest up to $1 billion in properties on the east coast of the U.S.,. Fridman is launching a real estate fund together with New York-based property developer and manager Rosen Partners to focus on distressed properties from Boston to Miami, in the latest example of a deep-pocketed foreigner investing funds in the U.S. real estate market.”

This already incredibly successful businessman is about to invest a billion dollars into the foreclosure market in the U.S. A billion dollars!

You might want to send a link to this article to Uncle Bob.

Just sayin…

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