PRACTICAL TIPS FOR YOUNG AND ASPIRING INVESTORS
- D. Warren
- Dec 16, 2018
- 149 views
Young people (Millennials) are predicted to make up a large proportion of homebuyers in years to come, but their impact on real estate investment will not stop there. Millennials will also make up the next generation of real estate investors, but as a newbie in the field, it might be a sort of challenge but doesn't make it impossible. It should be noted that there are numerous solutions when it comes to real estate investment as there are challenges. Learning how to invest in this field to a young person will take time, energy, and dedication, but young investors can set themselves up for a lifetime of success with just the right preparation, as there are more than enough benefits available to those who start investing at a younger age. It has also been proven that real estate investment is a highly lucrative investment option, as those who take the time to learn investment early can create the foundation for a worthwhile and a profitable career in life. As we all would agree that real estate investing guarantees long time wealth generation, it should be noted that it is not a get rich quick scheme. But as you start earlier with your investment journey, the longer time you get to acquire wealth and realize the benefits.
Now to the question, how do I invest in Real Estate as a young person?
I am young, I want to invest in real estate, but I don't have money. How then could I invest? These are the kind of questions on every young person's mind. In as much as money is important or needed for real estate investment, there are valuable assets you possess as a young person. Money is an important factor, no doubt, but the key to investing at a younger age will be learning how to leverage your time, motivation, and that small capital that you have to your advantage. That is why young people should be courageous and not shy away from the potential challenges of starting a career or investment life, rather, make use of your age as an opportunity to build your portfolio as there are numerous opportunities available, great connections to be made and knowledge to be acquired and with proper guidance, investing in real estate as a young person can help you set yourself up for the kind of life you envisioned.
The very first step towards investing in real estate is getting well educated about the field, as you cannot venture into anything without adequate and due research. Attend seminars, listen to podcasts, do online courses, read books, blogs, etc. All these to prepare your mind and to help you understand the in-depth of the investment. Don't venture into real estate because you think or hear you can make cool cash. Venture into it with the knowledge of knowing what you are doing. Better to be informed or deformed. Another angle you can invest in as a young person is to find a partner. Partner up! as most young people might not be able to invest by themselves. Partnering up would require inviting someone who shares the same interest as well as the vision you share. Your partner would assist in areas you are incapable of or lacking. This partner should be someone you trust and can vouch for, making sure that this person brings plenty of value to the table and you as the young investor, you use your energy, grit, and hustle to find the deals and have your partner to fund them. As much as you want to partner up with a potential and experienced individual, it is paramount that you gain some first-hand experience to prove that you have what it takes to execute on your part of the partnership. And as you learn the fundamentals of real estate investing, you would be in a better position to bring value to a potential partner.
The importance of finances in any kind of investment cannot be over-emphasized because finance is as important as the idea of the investment itself. You have the zeal, the passion, or even the experience but no funds. As the popular saying goes, use what you must get what you want. This age and time we are in, the internet and the gig economy, use it well. It is at your disposal. Picking a side hustle is just something you should think about. You can still do your 9-5 and have something doing by the side conveniently. You earn more and save more. A side hustle that wouldn't affect your regular job, most of the side hustle will not require you to live your house. And as you earn, you save up, fast-tracking you to become that real estate investor that you aspired to be.
One of the reasons to invest in real estate is it gives the option to hold the properties for decades and allowing it to appreciate which means the younger you are when you start investing, the longer you can potentially hold the investment and the more equity you can build. As a young person, you might not have so much commitment or responsibility compared to an adult. You tend to have a more flexible personal life, without the demand of heavy expenses and flexible time, in other words, they can put more of their paychecks towards real estate investment. As a youngster, you will have the biggest and greater asset to your credit- time. Starting to invest during the early stage of your career, you get a lot of time to research, learn and achieve. Nothing can or should stop you. As for risk management, you would be able to handle it in a different manner than the older counterparts, even if you make mistakes, the impact would be minimal having time to correct and reap its benefits. Your whole approach to the investment business will be fresh and appealing, and your enthusiasm and motivation level will be quite high and manage any risks that come your way with ease.
Would you like to speak with someone? or do you want to start your real estate investment journey, kindly book an appointment to speak with top real estate experts.