Real estate still remains one of the best means of earning steady income because of the high demand for properties. Aside from financial gains, real estate contributes to economic development by attracting new businesses that improve the lifestyle of people living in the community. For example, the self-esteem and lifestyle of individuals living in the community improve when dilapidated buildings are reconstructed.
Despite the huge benefits in real estate, retirees still remain the largest cohort in the real estate industry because most youths believe it’s meant for older people. However, investing in real estate before turning 30 could possibly be the smartest move you’ll ever make.
Here’s a “step-by-step” guide on how to invest in real estate before turning 30
- Educate Yourself
- Start Small
- Embrace technology
- Networking
Educate Yourself
As a young investor you must educate yourself 0n the basics of real estate to get started on the right foot. Your computer and internet connection can help you educate yourself so you’re not blindsided by the investment process.
Active real estate agents are great resources to educate you on the home buying process and there are also classes that can educate you on the right moves to make in your area. Take advantage to everything you can to give yourself, an advantage in the real estate market.
Start Small
Just like every great business was built one sale at a time, one store at a time, one customer at a time, one product at a time, one step at a time, your real estate investment business is built one house at a time.
Every single real estate investor out there started small: One step, one house—that is how it all began for everybody. When you put your destination and plan in place and go from a step, to a walk, to a run in your real estate investing, you will see how the difficulty dissipates and the rewards increase.
The source of most new investors’ hesitation is to buy that first property. Do not wait till you have all the money in the world, start small. Buy that half-plot of land and re-sell at a higher price from there, move on to a a full plot and keep growing. Also make smart decisions, save as you earn and save to invest.
Embrace Technology
Advancements in technology are shaping the way real estate agents and homeowners navigate the home selling and buying process. In today’s modern world, real estate professionals rely on sophisticated data to drive decisions, assess home value, and find ideal buyers.
AI technology is enhancing the home buying and selling experience. Some AI applications can answer detailed questions about a home, like whether or not it has a pool or a backyard. Take advantage of technological advancement and build a unique brand.
Network with the right people
Your network is one of the things that will help you navigate you way and help you grow in the real estate world. Learn from real estate investors you meet, attend seminars and trainings on real estate investment. If you plan on buying your own investment property, get to know the do’s and don’ts of the real estate market so you won’t invest in the wrong property.
You can read our previous post on “Real Estate Investment Tips For Your First Purchase” to help you get started.