More interesting Real Estate Questions.

Interesting questions about our hot real estate market continue to pour into my e-mail. The following is one of the most direct.
Q: Mr. Daniels,I heard you the other day on the radio. You are a big advocate of using real estate as an investment vehicle to create wealth. Do you, in fact, practice what you preach, and how much are you worth?
A: I believe real estate, if held for the long-term, is one of the most forgiving and rewarding investments available in the marketplace. I use the term forgiving because some investors have overpaid for real estate, but, thanks to inflation and the dwindling supply of land, the market has appreciated enough to offer a profit to unknowledgeable investors who were once upside down in their investments.
Real estate investments offer great rewards measured with the risk. When you compare real estate to other investments, it has many advantages when looking at reward versus risk investment return. Depending on the type of real estate, returns come in several ways; price appreciation, cash flow, mortgage amortization, IRS depreciation, leverage and most importantly, the ability to control your own destiny by doing due diligence prior to buying and thorough and creative management of the asset during ownership.
My personal portfolio is comprised of two asset types. The largest allocation in my portfolio is real estate, (I sold my stock portfolio years ago!) which is composed of preconstruction owned properties and condo conversions. Both tend to appreciate at a higher rate, while condo conversions offers immediate return on your investment in most cases. It is my belief a position in both types offers the best overall return over long periods of time.
I`m also a firm believer in keeping Cash handy which i include in my portfolio.
I`ve always told our investors that "cash is king", which I believe holds true!
Cash allows you to obtain bank financing easier, move quickly on good investment opportunities and, most importantly, cash offers a cushion against unfavorable business climates, thus allowing you to not only prosper but sleep at night.
Because the second part of your question about my net worth is personal and confidential. I will not answer directly. However, I will tell you that my portfolio has not only provided well for my family, but, it also gives me the peace of mind that I can retire at any time. Knowing that gives me an edge in the market.