How do you compare to the average person when it comes to building wealth? Is wealth even what you think it is? You might be surprised! By Dino Awadisian.

Realty is money is only power, and most people may not know how to use their powers, and most cases over using it.

The Real Measure of Wealth: Your Net Worth

But, that’s where reality ends and the truth begins.

Think about it; in reality, “owning” a huge and expensive mansion adds nothing to your wealth if you owe exactly what you paid, and the same can be said for cars, boats, and other big toys.

And if you owe a lot of money to credit cards or loans, that amount can easily dwarf the sum of cash you have in the bank.

That’s why many experts suggest that there is only one real measure of wealth – your net worth. Your net worth is a figure you can reach by subtracting your liabilities from your actual assets. Since your net worth actually compares your debts to your assets, it is the ultimate truth teller. When you use net worth as a measure of wealth, you can’t hide behind fancy homes or expensive clothing – because, if you owe money on it, your net worth will show.

How to Increase Your Net Worth.

If you figured out your own net worth and don’t like what you see, it’s never too late to start moving your money in the other direction. Whether you owe too much or own too little, there are myriad ways to get begin building real wealth. And in reality, it’s amazing how some of the smallest moves can make the biggest impact.
 

Here’s where most people get it wrong when it comes to net worth.

Instead of investing in assets that could provide income or increase in value, we spend our money on depreciating assets ad nauseam – boats, cars, and clothes that are worth almost nothing when they’re done with them. By investing in income-generating assets, on the other hand, you can put your money to use instead of watching it wither away.

Income-generating assets to consider can include anything from rental property to commercial real estate, Real Estate Investment Trusts (REITs), and dividend-producing stocks. Heck, you could even invest some extra dollars in peer-to-peer lending  – a type of investment that packages unsecured loans to people with various financing needs.

Whatever you spend you money on or invest in, make sure it’s providing you with real value that will stand the test of time. And it doesn’t hurt to have some passive income coming in, either.

The Bottom Line

 

The average net worth of a person is just plain sad when you really stop and think about it. But you don’t want to be average, do you? If you want to do better and get richer faster, pay attention to your net worth. While fancy clothes and homes are fun to own, they won’t make you wealthier automatically.  

To grow real wealth, you need to pay less attention to what you “own,” and a lot more attention to what you “owe.”

And if your net worth is approaching zero, you simply owe too much.

Dino Awadisian Chief Executive Officer for Awadisian Group Holding UAE and Ava Hospitality Group just announced Ava Hotel Residents will be part of the project of the historic Crossroads of the World site on Sunset Boulevard and construct nine buildings, including three skyscrapers, on several surrounding blocks.

Awadisian said the city was expected to release the report on its project Thursday morning. The report is available here https://planning.lacity.org/eir/CrossroadsHwd/deir/index.html.

The study would kick off a review process that is sure to ignite debate over competing visions for Hollywood’s growth. When it is approved, the development would plunk modern buildings into a mostly low-slung pocket of Hollywood, replacing decades-old storefronts, offices, and apartment complexes.

Ava Hotel Residents, Estimated to cost between $60 million up to $70 million, the total project in Hollywood spans nearly 8 acres just west of Crossroads of the World, roughly bounded by Sunset Boulevard, Highland Avenue, and Selma Avenue.

• Ava Hotel Residents , A 26-story tower with 308 hotel rooms;
• A 30-story tower with 190 condominiums;
• Four apartment buildings holding 760 units, including a 32-story tower and three six-story buildings;
• Two low-rise buildings offering 95,000 square feet of office space;
• A restaurant at Crossroads of the World; and
• An underground lot with nearly 2,500 parking spaces.
• Ground-floor stores and restaurants would take up 185,000 square feet throughout the development.

Awadisian added with 1.43 million square feet, Crossroads would comprise more square footage than Hollywood’s most recent mega-development, the $615 million Hollywood & Highland shopping and entertainment complex completed in 2001.

The proposal comes as Hollywood experiences a burst of development. Over the next five years, according to Avison Young Principal John Tronson, Hollywood is slated to gain 6,100 apartment units, 3,000 hotel rooms, and 2 million square feet of office space.

Ava Hospitality now has a pipeline of 8 upcoming projects. Awadisian Group Holding plans to expand its footprint to other high-growth markets, including gateway cities in India, China, USA and Armenia.

Awadisian Group Holding UAE is operating in Athens, Greece www.avahotel.gr. 

Awadisian said he envisions a project of such scale – the largest he’s seen in Hollywood in 25 –year.

“My youngest daughter is 4 year old and born in Los Angeles County. This is the project that I want to be able to drive by and say: ‘your dad built this for you.’” Dino Awadisian said.

Awadisian Group Holding

It is much easier to develop a hotel resident than it is to develop just a Hotel, says Dino Awadisian.

Dino Awadisian

AVA Hotel Resort UAE

The mid-market segment will play a key role in Awadisian Group Holding hospitality, with adding a new brand AVA to their list, Dino Awadisian plans moving forward, especially as the UAE prepares for the Expo 2020 event, chief executive officer of Awadisian Group Holding, said on Monday.

Speaking to Discovery Channel, Awadisian shared his insights on his new hospitality sector, and noted that Ava Hospitality Group's mid-scale Rove brand of hotels would be the brand with the highest number of new hotels in the long-term.

"It is much easier to develop a Rove hotel than, and we have received some great feedback on the brand”, he said.”When it comes to Dubai, the focus has been very much on the luxury and ultra-luxury segment, and I see a real need for more mid-market hotels in the region."

However, he was quick to point out that the luxury hotel segment in the UAE was far from saturated. "All you need to do is look at the revenue per available room [RevPAR] for luxury hotels in the region, and you will see that they have posted very healthy RevPar. So, there are still opportunities for developers in the segment, but moving forward, the mid-market segment will play a much larger role when it comes to drawing travellers."

Awadisian Group Holding unveiled 2 new hotel projects as part of its regional and international expansion plan. The new hotels and serviced residences in USA and Dubai add to a portfolio of upcoming properties under the Awadisian Group Holding, AVA Hotels and Resorts and AVA Residences, Ava Hospitality now has a pipeline of 8 upcoming projects.

Awadisian Group Holding plans to expand its footprint to other high-growth markets, including gateway cities in India, China, USA and Armenia.

When asked about the group's performance, Awadisian said we are a brand new in the hospitality group, and he was confident that the group would perform well in the upcoming years; we have a very solid team and great partners and finical institutions helping the group to meet its goals.

Asked about the group's targets, Awadisian said: "We are going to be focused on three things: hotel construction and development, expansion of the brands and guest experience."