You might be thinking that, because you’re young, you can’t have Real Estate Investment Plans. You might think that real estate investing is for old people who play golf and have a 401k.
This is completely untrue.
You can start investing in real estate at any time in your life and the best time to start is now.
Sure, you can keep telling yourself that it’s not the right time, that you don’t have the money, and that you don’t have the experience but this kind of thinking will only distance you further away from your dream.
You don’t want to spend the rest of your life at a thankless 9-to-5 job, do you? Of course not! That’s why you’re here.
If you’re interested in investing in real estate but have no experience and little money, I want to give you two investment plans that are perfect for a rookie investor and they will help get you on your way to reaching your goals.
After all, a college dropout bought his first condo at age 20 in 2010 and by 2015, he hd made millions in real estate. Why can’t you?
1. Live-In Flip
This is potentially the most profitable and convenient real estate investment that a young person could make. A live-in flip investment basically goes like this: you buy a cheap home, live in the home, fix up the home while you live in it, sell the home for a profit, use the profit to buy your next property.
This is an incredibly convenient strategy because there are no holding costs since you are the one living in the home. Also, when you buy a fixed rate mortgage, your payments will continue to stay fixed for as long as you decide to live in the home. Even if you decide to live in the home for years, you will see a profit when you sell as long as you make improvements on it while you live on the property.
2. Buy a Duplex
This strategy is similar to the the live-in flip because you live in the house but instead of flipping it, you rent it out. When you buy a multifamily home, you can live in while renting the other half out.
This is a great investment because it allows you to learn the ropes of being a landlord while also living on the property and this experience will help you a lot down the road.
Another reason why it’s a great place to start is that the money that comes in from your tenants can go toward your mortgage which will help you pay off the loan a lot faster. Then you can sell it for an easy profit. This is a great opportunity for you to get experience with real estate investing and also make some big money.
But don’t take my word for it. This is the exact same investment plan Chad Carson used as his first real estate investment when he was in his twenties. Now Carson is 30 years old and owns 90 rental properties.
When Carson began investing in real estate, he only had $1,000 to his name and he turned that into a profitable business and so can you!
Listen, I know you’re interested in real estate investing–if you weren’t, you wouldn’t have made it this far–so I want to let you in on a little secret:
The best time to start is now.
Now that doesn’t mean that you have to go out and buy a property right now but it does mean that you should start doing your homework. Don’t wait around for your dreams to materialize–go out and get them.
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Bonus Real Estate Tips From Yanni