The times have changed. Millennials are no more the type of people who study, get a job, earn, get married, work, and retire. Millennials have drastically transformed their way of living and found an effective way of investing and multiplying their money to fulfill their dreams or accumulate funds for post-work life. They invest in real estate and set long-term goals to get rich through property and land pieces. According to a real estate investing report by Harris Interactive, 55 percent of millennials are interested in real estate investment. The millennials save more and they are open to investing in real estate to make some extra money on the side. less to invest in property. This generation is leading the housing market and is on the verge of transforming the entire real estate investing scenario
- Real estate is a source of passive income
Passive income means the money you make without working for it. The best resource to generate this by investing in real estate. If you invest in residential or commercial property, then you can lease or rent it out to somebody else who isn’t able to invest in property at the moment for their living or business. With time the value of the property appreciates, this means that the rent will increase too. You can dictate how much rent you are going to charge to your tenants especially if your property is located somewhere between schools, hospitals, or commercial centers. Giving your property on rent brings you a fixed monthly income which proves an effective return on investment (ROI)
- Real estate is a valuable tangible asset
Earlier, it was difficult for a younger generation to peep into real estate advantages and accumulate a good amount of money because of a down payment or monthly installation. Now, online platforms offer lower-cost options like crowdfunding for investment in real estate. History shows that property will eventually appreciate and grow in value over the years. Millennial investors should expect to enjoy good and steady monthly cash flow from their real estate property investments.
- Real estate appreciates faster
Investing in a real estate property at a very young age will prove fruitful in the future. The longer you hold the higher are the chances of you witnessing the appreciation of its value. The property rates fluctuate on the basis of locality, inflation, market demand, and the economic condition of the country. Home investments usually rise at a rate of 10-20% appreciation annually over a longer period of time.
- Real estate properties meet millennials preferences
Buying a home is like directly investing in the future, it is something worth working for your entire life and investing the accumulated savings in a property that will multiply your investment forever. Normally, the value of American homes generally appreciates 4% every year as a whole. The home investments never disappoint, serve lifelong advantages, and give the feeling of belonging to you. On top of that, it is a material investment that makes you feel like a dream come true.
- Real Estate is a good source of online investment
Online crowdfunding investments have been in trend for a very long time now. It allows individuals to invest in real estate in smaller amounts. The amount of the investment normally ranges between $500- $5000. Here, the investors do not have to worry about the time and hassle of getting in touch with other parties and discuss deals about rent or investment. Most crowdfunding or syndication companies outsource property management. This service has encouraged a lot of millennials as it offers flexibility, variety, and low costs. Also, it can be accessed online easily which can be a driving force for millennial real estate investors.
Check real estate syndication company for additional information.
There’s a ton of platforms that enable millennials to invest in real estate, but finding the right one is crucial to get the most out of your investment. Platforms such as DiversyFund allow investors to get access to deals without middlemen fees. It is within the investors best interest to do their due diligence and get first-hand information on DiversyFund and other real estate crowdfunding platforms from former and current investors themselves. Only then can they know whether the platform is the best fit for their investment goals.
This is how real estate investment can bring fruitful results for you. If you are looking for a good real estate property in Richmond and searching for trustworthy Richmond realtors for help then Team Hensely is here for you.