Buy land. They aren't making it any more!

Sound advice from my mentor, real estate expert Brian Buffini:

Mark Twain encapsulated what economists had been trying to say for years: that the fundamental law of economics is supply and demand. Outside of volcanic activity on the Hawaiian Islands, no new land is being created. The supply is limited.

The world population grows by approximately 90 million people a year,increasing demand year after year. Human beings have three basic needs for survival: food, shelter and clothing. And I don’t see that changing any time soon. On occasion, the market goes through cycles of having too much resale inventory and too much new product followed by a housing shortage and price increases.

And even in the midst of surpluses like today, there is certain built-in demand. For example, there’s a tremendous shortage of apartment buildings in many cities. Many markets are experiencing a surge in rental prices of single family homes. This creates pressure for the first-time buyer to own and investor clients to buy.

So buy land. Preferably with a house or apartment building on it. They’ve stopped making it!