History has shown that success comes to the most unlikely of countries.
In the 1950s, South Korea was in a squalid state.
Having faced a brutal Japanese occupation (1910-1945) and getting involved in an arduous war with its northern neighbor North Korea (1950-1953), South Korea started the middle half of the 20th century on a rough note.
It’s often overlooked how South Korea had a standard of living that was comparable to sub-Saharan African countries throughout the 1950s.
Following the Korean War, the Korean peninsula would be divided on strictly ideological lines. The North was a communist, command economy, while the South maintained a nominally market-based system. However, South Korea’s first few decades in the wake of the Korean War were rocky to say the least.
Politically, South Korea was not very democratic. In fact, from 1948 to 1987 it oscillated from republican forms of government to de facto military dictatorships.
Even under its republican iterations of government, South Korea had a strong authoritarian touch. There were severe restrictions on civil liberties and the country was slow to adopt democratic norms.
Despite the political obstacles, the South Korean state was pragmatic in its economic development policy. Instead of embracing complete central planning, South Korea promoted policies that encouraged domestic saving and facilitated the investment in critical infrastructure and education.
Through hard work and determination of its people, South Korea was able to emerge as one of the most dynamic economic success stories.
From 1961 to 1995, South Korea’s real GDP per capita grew at an average rate of 6.6% annually. By 2020, South Korea had the 12th largest GDP in the globe with a per capita GDP of roughly $32,000.
Not too shabby.
The big takeaway here is that countries’ economic lot can change in a matter of decades.
In one decade, things could look like a total disaster, but two decades later the good times are rolling.
This is part of the broader human story. Even when things look rough, people find ways to muddle through and thrive.
We should always keep this in mind when considering the economic predicament that the U.S. currently finds itself in
Since we just celebrated Thanksgiving, Americans should be thankful for having a political system that nominally protects property rights and commerce.
To be sure, the U.S. is going through a tumultuous economic period thanks to state governments’ lockdown policies and the Federal Reserve’s loose monetary policies.
These are policies that are hurting millions of Americans.
But they can be overcome thanks to the economic system we have in place that still allows people to find private sector solutions to the problems we face.
More importantly, empowered investors like you, can profit from the economic chaos America is mired in.
Allow me to dispel a common perception most people have about the economy: Economic downturns are not the end of the world.
People re-adjust and reallocate their resources in a way to cope with the new economic realities in front of them
Remember one steadfast rule about real estate no matter what the economic situation turns out to be:
The home is the center of the universe.
Even if economic doomsday came about, people would still need to find homes.
The family that thought they were at the top of the world during the boom will now have to downsize dramatically in the bust phase.
That’s how the cookie usually crumbles.
As the savvy income property investor, you should exploit this trend to its fullest.
As someone whose had multiple decades of experience in the real estate game, I’ve come to the conclusion that income properties are the most reliable asset class to build wealth with.
Specifically, income properties in linear markets. These markets aren’t exactly the sexiest.
They’re not your Los Angeles, Miami, New York, or San Francisco markets.
Linear markets are those that you would find in “flyover” America. Think of housing markets in cities like Memphis, Tennessee, Jackson, Mississippi, or Louisville, Kentucky.
Nevertheless, linear markets will deliver the goods in a reliable manner if you play your cards right.
That comes in the form of cash flows going straight to your bank account… all without having to worry about the whims of volatile markets.
However, I do caution people who get into the real estate game about one thing:
Real estate investing is not a walk in the park.
It’s not easy and you will most certainly face obstacles. To surpass these obstacles you’re going to need guidance.
The Empowered Investor Inner Circle is here to put income property investors on the right path to generating consistent cash flows.
This group is made up of seasoned investors who’ve been there and done it. And they’re ready to help you have a pleasant investing experience that will maximize your return on life.
As a member of the Empowered Investor Inner Circle, you’ll obtain the following benefits that will make your real estate journey so much simpler:
- A list of successful investors working in your market.
- A rolodex of the most experienced handymen, roofers, and painters in the markets you’re investing in.
- Top-shelf real estate software that will help you manage your properties, track cash flow, and save tons of money in the process.
By joining the Empowered Investor Inner Circle, you’ll be free from property manager rip-offs and be able to find and identify the best investments.
Plus, you’ll be doing all that by increasing cash flow and cutting your expenses. So more money in your pocket and less headaches from having to outsource work to unreliable managers and other third parties.
Although the Thanksgiving holidays are over, you should always be thankful for what you have and the opportunities that are in front of you. Most people around the world would give an arm and a leg for them.
Our time on this rock is limited, so it’s incumbent upon you to make the most of it.
Now you must ask yourself how badly do you want to maximize your return on life?
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