Even though real estate investment portfolio is primary dominated by the older generation of investors, it is increasingly becoming a choice investment portfolio for the young as well.
Gone are those days when investing in real estate only becomes feasible after decades of work life with tones of money to spare. In the last few years, Generation Z, also known as Gen Z, young people born between the mid-1990s and early 2000s, are redefining the landscape of real estate investment.
And a young person, desirous of building lasting wealth through real estate investment, here are five tips to consider when investing:
1. Embrace Technology-driven investing: As a Gen Z with sharp technological skills, you are naturally placed to leverage on technology to invest profitably in real estate today.
With advancements in technology, real estate crowdfunding platforms and online marketplaces are gaining popularity among young investors. These platforms allow individuals to pool their funds and invest in a diversified portfolio of properties, making real estate investing more accessible. You should consider this to build your portfolio.
2. Consider the option of Co-living and shared accommodation: The concept of co-living, where multiple individuals or families share common spaces and amenities, is gaining traction among young urban dwellers, even here in Lagos, Nigeria. Investing in properties that cater to this trend, such as shared houses or co-living spaces, can provide good rental income opportunities. The most common of such in this part of the world is Airnb and you could find that with the right guidance, you can make cool cash from it.
3. Get educated: Once again, in this age of technology, you have unprecedented opportunity to acquire cheap, even free, education and skills in the area of real estate investing.
And because real estate investment can be complex, and for young investors, education becomes paramount. As a Gen Z, invest time in learning the fundamentals of real estate, including market trends, financial analysis, and risk management online. You can also take it further by attending workshops, webinars, and seminars conducted by experienced industry professionals can provide valuable insights and enhance their investment acumen.
4. Collaborate and Network: Building a strong professional network is essential for Gen Z investors. Collaborating with experienced real estate professionals, mentors, and peers can provide valuable guidance and open doors to potential investment opportunities. Networking within the real estate community allows young investors to gain insights, share experiences, and access a broader spectrum of investment prospects.
5. Pursue a career as a realtor or agent: If you don’t have the stomach for investing long-term, you could also build a career for yourself selling real estate properties using your social media platforms. By simply advertising properties to your contacts, you earn commissions on transactions and in the process build a strong network of clients for future projects. The opportunities in real estate for the Gen Z are simply numerous and you can start investing or making money right from where you are with little or no capital. For further guidance on real estate investment or if you are interested in selling great real estate products, contact PWAN Stars today and let’s talk.