- Scott Picken
- Real Estate
When it comes to creating and preserving wealth, property has always been the asset class of choice. Today about 49% of the world’s wealth is held in property, but it is out of reach for most people.
This is why Wealth Migrate has made it its mission to give more people access to this prized passive income stream. At present only 12.9% of people have access to investing in property, but Wealth Migrate wants to increase that to at least 25%. “We have a goal of helping the 99% have access to the same opportunities as the top 1%, using technology and SMART InvestingTM,” says Scott Picken, the founder and CEO of Wealth Migrate and the founder of International Property Solutions.
“Our mission is to give access to everyone who is like-minded and understands the power of the crowd working together, just like in nature. As when birds fly in a flock, versus flying on their own, a bird in a flock can fly 70% further than a bird on their own,” he says.
Property provides investors with a steady stream of passive income, but it can be a tough asset class to crack. Wealth Migrate helps to break down many of the barriers to entry by using an online platform that connects investors and property partners without the added cost of countless middlemen, and then allows investors to invest directly in property in the UK, the US and Australia and earn a US dollar, Australian dollar or pound based passive income.
Picken is quick to point out that the investment is directly into an actual property – investors own a piece of a building – and not a real estate investment trust (Reit). This is what the wealthiest people have done for centuries and there is a reason that there is a saying, “He who owns the land is King.”
Traditionally it has been difficult to get into commercial property – the middle classes invest in residential, while the truly wealthy favour industrial and commercial, says Picken. Wealth Migrate gives individual investors the buying power of an institution, and therefore access to commercial and industrial property.
With this investment comes a passive income. “Passive income equals freedom. Whether it’s $15,000 a month or $1,000 a month $50,000 I don’t care what your number is. What I do care about is enabling you, giving you the belief, the knowledge and the systems to make it work for you,” says Picken.
Technology has been the big game changer; in the same ways that Uber has changed the way we hail a taxi, Wealth Migrate’s online platform has made investing directly in property more accessible, with more trust and transparency. It really is as simple as 1, 2, 3, 4, says Picken:
- First, sign up;
- Then browse the deals you now have access to;
- Once you have made a choice, invest, using the fin-tech enabled platform; and
- Go ahead and manage your growing portfolio.
It may be easy, but Picken preaches caution. Any deal brings risks, he says, but Wealth Migrate does extensive due diligence – both on the partner and the deals. The three absolute must-haves for every partner are:
- They must have been around for more than 10 years;
- They must stick to one thing, old-age care or medical for example; and
- They must put their own money into the deal.
For further information and to register visit https://online.wealthmigrate.com/wealth-breakfast.
About the author
Scott Picken is a South African-born real estate investor and entrepreneur. He is the co-founder of Wealth Migrate, a fintech company that offers real estate investments on its online marketplace through crowdfunding.