Investing in real estate might seem like the latest get-rich-quick scheme you’ve seen on TikTok, but it’s been making people rich for years. Leonard Stern of New Jersey started out as an employee at his father’s pet supply store in 1959. He made his first investment in 1966 — a warehouse in New Jersey. He has since turned the money from that investment into a company, Hartz Mountain, which owns over 260 properties. He’s ventured into several other markets, all made possible by his real estate business. He’s worth $4.5 billion today.
For Stern, investing in warehouse spaces has made him extremely successful in real estate. Though you might normally think of buying homes when considering a real-estate purchase, the opportunities extend far beyond that.
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