Your go-to guide for investing in Real Estate in your 20s
If you think you’re too young to start investing, you’re wrong. Your twenties are what shape your future and what better way to start investing than in real estate? The advantages of invest in real estate at a young age are aplenty. You have the ability to be financially secure and indecent once you start investing.
The financial independence will come through the generation of high cash flows and when you’re young, you happen to be the most flexible and have more time on your hands along with far fewer commitments. How does this sound – invest successfully in real estate and take an easy retirement?
Tip #1: Time is of the essence
Time has two faces, one is your enemy, the other is your best friend. Because you are young and full of zeal, passion and commitment, you have time to plan out and fulfil your investments. You have the ability to take calculated decisions and risks and the option to make better plans, set goals, and manage your future – all because you have time.
But as transient as time is, don’t wait for too long. It might be that one day you wake up and realise that the golden opportunity of investing in your dream real estate option is there no more and you’ve missed out on investing in your prime years. It’s better to not wait for the later and not let your plans take a backseat. Start learning how to invest, don’t wait for too long.
Once you realise that you’re serious about investing in real estate, money won’t be the only sacrifice you would be making, you are also going to invest a lot of time – so do make sure you can commit fully.
#2: Build a Network
When you venture in any new field, networking is one of the most important aspects, and so is the case with real estate investment. It doesn’t matter whether you’re just starting out or have a tower of your own, networking is an asset that has the ability to take you where you want to end up.
If you lack in having a network, don’t worry, you’ve just started out. It is important today that you meet people and expose yourself in the industry; you can do this by attending local events, such as seminars or open house events. Your goal is simple – to connect. With technology playing a huge role, you have the ability to also start connecting with people on social networking websites such as LinkedIn, Facebook as well as Twitter, and your age definitely gives you an upper hand with these.
Learning how to start investing in real estate can be fostered by your real estate network. With different networks, you are presented with every guidance and support and have the option to pick from a few too! Learn from other people’s experience and benefit from their knowledge, expertise, and strategies. Professionals today share grand amounts of knowledge at no cost whatsoever, learn from every person you meet or connect with – it will open a myriad of endless opportunities for you.
You can also consider working initially and investing alongside a partner. Partnerships help in bringing together money, knowledge and experience that enable smart investments. When with a partner, ask them questions, take this opportunity to grow into an investor who has every ounce of knowledge about the industry.
Finally, remember that your real estate network could be very wide. Get acquainted with real estate investors, accountants, realtors, real estate attorneys, contractors, etc. Every contact offers knowledge, information and guidance which can be truly and utterly helpful.
Tip #3: Learn More
Along with learning from people, it’s you who at the end of the day possesses the ability to affect your own success. Your advantage lies in your connections and the knowledge you garnered through them at such an early age. You’re already a step ahead of the investors who are starting out at a later point in life.
You need to be thinking of building a solid foundation for yourself as a real estate investor. You need to keep everything available on your fingertips, know the latest trends, the rates, consumer habits, demands and everything that affects your industry.
There are many resources that could help you start learning about real estate investment. Get a mentor, browse through books, seek professional opinions that can answer your queries or listen to podcasts. You have the ability to be a great investor at an early age if you choose knowledge as your virtue.