You are a 20-year-old something and you have heard the line that real estate is for the old and the boring people. A point of correction; this is a common misconception and far from the truth. There is never a better time to consider the commercial property investment than when you are young.
In this article, industry experts at Sentinel Property Group explain the things you can enjoy when you invest in real estate during your 20s.
Time has immeasurable power. When you are young, time is your biggest asset. Retirement is not chasing you, making you feel the pressure to make rushed decisions. When you make a sound investment plan and follow through with it, poverty will have a hard time crushing at your door when you are old.
You are young, currently in your first or second job and yes, it is true, commercial property investment requires much cash. Your paycheck is also devoted to paying off expenses, but how are you spending your money? At this age, you probably have much disposable income. Track your expenses to see where the low hanging fruit is to make the most of your earnings.
Network of relationships
You might put off the elderly, but there is one thing that you need to know. Older people enjoy helping ambitious young people. It could be that they see themselves in you when they were your age, but whatever the reason, take advantage of that rapport. The elderly have a wealth of knowledge accumulated through years.
Good financial move
When you invest early, you gain much needed financial insight and fiscal responsibility. It gives you an education, as you solve problems and makes you patient and wise as you wait for better deals. It also provides you with a determination that is way ahead of your peers. You get to learn that the investment is not all about money, but time is the master.
Time catches up fast and old age slowly creeps up. Consider your present situation and where you would want to be. Come up with a plan on what you need to get there, and be diligent. You will surely get there.