Tesla’s CEO Elon Musk remains the richest man in the world, despite the valuation of his EV company dropping more than 25% this year.

His leadership has created the world’s first $1 trillion electric vehicle maker, though Musk would tell you Tesla is far from just an EV company.

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Elon Musk’s lifestyle is unconventional, to say the least. The Tesla CEO claims he works 120 hours per week (more than 17 hours per day, all seven days of the week). He’s also previously stated that he will “own no home,” choosing instead to sell almost all his physical possessions and live a nomadic lifestyle.

But it appears Elon Musk remains a property owner, with reports stating he bought a house in Austin, Texas in 2022. This house was previously bought in 2018 for $4.5 million (which can get you quite the house in Austin) and was sold to Elon Musk in a private sale.

More recently, Architectural Digest reported that the billionaire made a transition from his luxurious estate to a s $50,000 tiny home in Boca Chica, Texas.

If you want to follow in the footsteps of Musk, here are some ways to invest in real estate without purchasing a property outright.

The rich own real estate for a reason

We all need a place to live, and that’s true for the poorest and wealthiest. While Elon Musk undoubtedly has quite the Rolodex of friends with very comfortable couches to crash on, most seek permanence.

Aside from the personal element, real estate has proven to be an asset class that provides the majority of most households’ wealth over long periods. A National Association of Realtors report shows consistent wealth generation numbers across the low, medium, and high-income thresholds over time. Generally, those who own their own houses build equity over time, as asset prices increase.

Owning stocks, bonds and other investments in a 401K or similar retirement account is great. But for many households living paycheck to paycheck, that sort of savings vehicle is out of reach. Making a monthly mortgage payment, however, is something that’s achievable for many, and can help build an important nest egg when the time comes to retire.

For those with a low rental payment, or who don’t want to venture into the real estate market given where interest rates are (even those who may have the down payment saved), there are options to consider in the rental market.

Backed by world-class investors like Jeff Bezos, Arrived allows investors to buy shares of rental homes and vacation rentals without taking on the similar responsibilities of direct homeownership and property management.

Start by browsing a curated selection of homes, vetted for their appreciation and income potential. Once you find a property you like, choose the number of shares you want to buy.

You can get invested with as little as $100 — a price tag that might look more appealing than the one associated with owning and managing a property yourself.

Read more: Rich, young Americans are ditching the stormy stock market — here are the alternative assets they’re banking on instead

For those with a little more capital to put to work, First National Realty Partners (FNRP) is dedicated to providing accredited investors access to commercial real estate. The properties held within the FNRP’s portfolios are institutional-quality grocery-anchored real estate — the kinds of malls and outlets many investors may want exposure to, but don’t have the tens of millions of dollars (or more) to put a deal together.

Qualified investors can benefit from the fund’s structure, which can provide quarterly distributions and the potential for stable, positive cash flow growth over time.

The FNRP team rigorously assesses each deal, only picking the best. This can be a great choice for diversification purposes for investors aspiring to be the next Elon Musk.

Elon Musk’s investment portfolio is notoriously concentrated in the companies he owns and runs. But aside from commercial real estate and rental properties, there are other crowdfunding platforms that take an alternative approach by allowing you to invest directly in owner-occupied residential properties.

Cityfunds is a platform that allows you to own a share of residential properties in top U.S. cities – like Los Angeles, Miami and even Texas – in case you’ve ever dreamt of owning real estate on the same block as Musk.

Cityfunds allows you to secure a stake in the interest in a home’s future value in exchange for cash. You can invest in portfolios of these owner-occupied properties, gaining access to the $20 trillion home equity market that spans multiple top U.S. cities. So, as the value of the home appreciates, so does the value of your Cityfunds investment.

The company allows you to invest in the booming housing market, in some of the cities you love for as little as $500.