Historically, real estate investing that generates passive income is one of the best ways to build multi-generational wealth. A single investment property that’s purchased by one generation can supply cash flow and profits for generations to come, leaving a legacy that’s passed down over the ages.
So in this article, we want to show how investing in real estate can build wealth that benefits multiple generations.
The Hilton Family
One of the ultimate examples of multi-generational weal through real estate investing is the Hilton family.
Conrad Hilton, the creator of the Hilton empire, was born in 1887, after his father moved to the United States in 1854. As a boy, Conrad worked at his father’s general store, at which time he began developing the entrepreneurial business skills for which he is famous.
Then after a stint in the army during World War II, Mr. Hilton purchased a 40-room hotel. The hotel was so successful, he turned the dining room into additional rooms to meet the demand. Then in 1954, he made the largest purchase in real estate history to date, purchasing the Buffalo Statler Hotel for $111,000,000. Afterwards, he bought additional hotels and created the world’s first international hotel chain – Hilton Hotels.
Upon his death in 1979, one of Conrad Hilton’s sons started his own real estate firm, and the other son took over the family business. In 2007, Blackstone purchased Hilton Hotels for $26 billion.
Although Hilton Hotels is no longer owned by the Hilton family, the wealth generated by Conrad Hilton’s real estate investments continues to impact his family, in addition to the charity that was the principal beneficiary his estate – the Conrad N. Hilton Foundation.
The story of Conrad Hilton is just one example of growing multi-generational wealth through real estate investing. Numerous others have also left a legacy and multi-generational wealth behind, such as John D. Rockefeller, who died in 1937 with assets equaling 1.5% of America’s total economic output.
If you are investing in real estate, and considering the possibilities of building wealth for future generations, here are a couple of things to consider.
Building Multi-Generational Wealth with Passive Income
If you have been investing in real estate for a while, you know that building multi-generational wealth involves owning real estate that generates cash flow profits.
This type of real estate investing does not generate quick profits like house flipping, and is not easy. Successful property investors are patient, and have a strategic plan they work over years of investing.
Real estate investors who build multi-generational wealth often start by funding their children’s college and their own retirement with passive income. Then at their death, these investors leave income producing properties to their heirs who continue to reap the profits generated by passive income.
Like Conrad Hilton and John D. Rockefeller, many real estate investors are generating multi-generational wealth that impacts their family and charities for years. With the proper knowledge, persistence, and right investment properties, you can generate wealth through passive income to change the lives of future generations.
Graystone Investment Group
Graystone Investment Group is an experienced Investment Group, wholesaling single-family and multifamily investment properties in metro Tampa Bay.
We help clients with various real estate investing goals that include building multi-generational wealth with passive income.
Unlike other wholesaling groups, we find properties that we resell to investors at discount prices, while also connecting them with private financing. We also coordinate with rehab and management companies we’ve worked with for years, at no extra charge.