“Real estate is a great way to build your portfolio value over decades, now more than ever. This is not a time to buy real estate with a one month or one year mentality. You have to buy it with a five or ten year plan, at least”, says McBreen. “Real estate prices are depressed in many markets, and for people with capital to spend and no credit issues, buying up some income producing real estate and hanging on to it for a while is a wise move.”

Investment in income producing real estate is a staple for many wealthy families and a great way to pass on intergenerational wealth and one of the three tenants of the wealth strategy McBreen and Walper lay out in their book. Many of these families felt they could live off of the income from the properties and not touch the principal of their other assets as they aged. The second reason was because they often found the properties were a concrete way to pass on a legacy to children or grandchildren.

Thinking past the current crisis and into the future, not just to the next financial step, but three or four steps into the future, is what makes the rich able to sustain long-term multi-generational wealth. Indeed, when asked if they were still interested in investing in real estate, 17% of the wealthy said that they were. In the future, this number will go up as any panic subsides and wealthy investors start looking to the future again. Now is a good time to investigate possibilities for income producing real estate opportunities, and taking the first step towards long-term multi-generational wealth. If you have already made this leap, look around for another real estate investment. The economic conditions are perfect for a careful long-term investment in real estate.

For additional information on the keys to perpetual wealth, check out Get Rich, Stay Rich, Pass It On: The Wealth Accumulation Secrets of America’s Richest Families.

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