Many new and experienced entrepreneurs, not only in Real
Estate, but in any business, use other people’s capital. This is called
leverage. Behind this word is a powerful tool that helps all sides.
Have you
ever wondered where to find people with money for your investment? Well,
according to WealthInsight,
they just might be next door to you. Toronto has 118 000 millionaires and ranks
15th in the world!
|
Rank
|
City
|
Number of millionaires (000s)
|
|
1
|
Tokyo
|
461
|
|
2
|
New York City
|
389
|
|
3
|
London
|
281
|
|
4
|
Paris
|
219
|
|
5
|
Frankfurt
|
217
|
|
6
|
Beijing
|
213
|
|
7
|
Osaka
|
190
|
|
8
|
Hong Kong
|
187
|
|
9
|
Shanghai
|
166
|
|
10
|
Singapore
|
157
|
|
11
|
Seoul
|
131
|
|
12
|
Munich
|
130
|
|
13
|
Rome
|
127
|
|
14
|
Los Angeles
|
126
|
|
15
|
Toronto
|
118
|
|
16
|
Chicago
|
107
|
|
17
|
Sydney
|
104
|
|
18
|
Houston
|
103
|
|
19
|
Mexico City
|
102
|
|
20
|
Moscow
|
101
|
This represents 28% of Canadians with over a million in net
worth (excluding their primary residences). By 2020 Canada is expected to rank
8th with 661 000 millionaires. Impressive, isn’t it?
So you think you can find some money here?
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