Investing in real estate, regardless of the numbers of years or experience levels, has been expanding for individuals of all generations. More than ever before, there are possibilities to make profit through investing in real estate at any age.
Related: 6 Reasons Virtual Leasing and Home Buying Is the Future
Any Age Is a Good Age, and the Best Time Is Now:
This might sound a little cliché, but if you are thinking about what the best age to start investing in real estate is, the answer pretty much goes down to “you are as old as you feel.” There are countless resources and online social platforms, such as Airbnb, for the younger generation to join in the network and jumpstart their real estate investment business. Meanwhile, the older generation is also stepping up the game and utilizing new ways for investing in real estate. Thus, there is plenty of room for older and younger adults alike to thrive as real estate investors, especially if they already own real estate investment properties or are buying an investment property. And there are plenty of possibilities even if you have little or no initial capital. The following tips will assist you in thinking of ways of investing in real estate at any age.
Related: How to Start a Real Estate Business with Little or No Initial Capital
What It Takes to Invest at Any Age
In addition to having the “you are as old as you feel” mindset, it is equally important to bear in mind that the ideal age may well be a blend of different ages. The ideal age for investing in real estate is in incorporating expertise with experience, and in combining solid information with fresh knowledge. Investing in real estate, in this respect, is an ongoing process of educating oneself and keeping up to date with the market.
Regardless of your age, obtaining an investment property analysis and figuring out the must-have real estate investment tools will prepare you for your endeavor of investing in real estate. Whether you already own a real investment property or are on the verge of buying property, there are resources to help you start. Using Mashvisor will greatly help in your research as you work toward finding the best real estate investment strategies, and it will equip you with valuable knowledge to start the ever-growing journey of making money in real estate.
Do you have a free Mashvisor account? Click here to use our Property Finder and find properties in a matter of minutes!
Say You Already Own Property, Now What?
If you are at an age where you already own property, there are countless ways for you to boost your rental income as you work toward financing investment properties and becoming a new real estate investor. A crucial question to first ask yourself as you start the process of investing in real estate as a landlord is, how much can I rent my house for? Naturally, having an estimated figure as you answer this question will help determine how to price your property. You will first need to come up with a basic idea about how much your first rental property is worth, while bearing in mind the mortgage costs and other expenses related to renting.
It cannot be highlighted enough just how constructive a comparative market analysis will be down the line as you begin the path of investing in real estate. The foundation for this analysis is in gathering data on how to easily find real estate comps. This process will give an estimate of the real estate property’s market value, and naturally help you determine how to price your property. Getting acquainted with must-have real estate investment tools, such as the rental property calculator, will provide you with a richness of knowledge early in the game as you explore how your real estate business will develop.
Related: How to Perform a Real Estate Market Analysis
What If You Do Not Own Property?
If you do not own property, as a lot of us do not, this may be the time to look into finding an investment property. Ultimately, buying your first investment property will meet the objective, which, to put it bluntly, is to make money in real estate. If you are considering buying rental property, it would be wise to get acquainted with the local real estate investment network. Being in-the-know as you aim to achieve the most value for your income property will come in handy.
One of the top preferences for the youth (in particular) these days when it comes to investing in real estate is buying and/or renting an Airbnb property. An ideal situation in starting as a beginner real estate investor is to buy an investment property while renting out a residence. This option may be especially suitable for the younger (perhaps single) individuals who can cut down on their living expenses while renting.
Airbnb continuously proves to be a medium to build real estate networks on a larger scale. It is deemed to be profitable especially for the younger generation, who are quickly learning how to make money in real estate online. Airbnb is thus a good way to start for beginner real estate investors, seeing that there is feasibility for short-term rental businesses which can slowly build their way up. As you prepare to welcome this as a possibility in your path toward investing in real estate, make sure you know what you need to know before buying an Airbnb investment property.
As time goes on, the long-gone stereotypes about age are ceasing to be accurate: to assume that the ‘older generation’ is still inclined to go for traditional investment may no longer be valid. The various options for finding an investment property using real estate investment tools, as well as finding an agent to work with, can save so much time and energy for the younger and older real estate investors alike. There are also educational tips on getting a mortgage for an investment property. With such resources, individuals of all ages are presented with available resources that achieve faster results.
Related: 5 Tips on Researching Investment Properties
When investing in real estate at whichever age, do not under-estimate the importance of research, particularly on how to do investment property analysis. It is equally important not to overlook the influence that the up-and-coming and fast-moving generation has on rental properties. Simply put, experienced real estate investors are good at what they do because they value the math-smart as well as the street-smart!
Let’s face it, when it comes to investing in real estate, there may well be no such thing as being too old or too young to start. Whether you are only a beginner or an experienced real estate investor, there are plenty of opportunities for you to grow your business and start making money in real estate.
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