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Are You Too Young or Too Old to Start Investing In Real Estate?
By James A. Gage
Is Real Estate investing something I should try?"
The response to this question is a resounding, “YES!"
Real Estate investing is the best business to try when you are starting out in the investing world. There is very little risk if you research before committing especially when it comes to my favorite niche- Lease Purchasing AKA Rent to Own. There are minimal expenses….no office space rents or utilities, no salaries to employees, no business clothes costs, just to name a few of the potential expenses incurred in traditional block and mortar businesses. What better time to learn ethical business practices, the art of the sale, and the rewards of a job well done than in your youth?
Starting to invest in real estate in your youth is a great opportunity to attain other goals:
A brand new car.
Working your business while going to school,you work your own schedule
traveling: take your laptop with you and do business from a hotel in Italy.
Help your family if they are in need of your assistance.
Are there obstacles if you are young? Of course there are! The biggest one is an inherent one found in most youths. It’s impatience. Those investors that became successful “overnight" had many hours of hard work behind them. Success rarely happens overnight. It takes time, perseverance, and patience to build an investment portfolio but once it gets growing, it keeps growing! So, my advice, is to go for it, take what time you need to build a foundation, then reap the rewards. You will have many years ahead of you to reap those rewards.
Are you too old to start investing in Real Estate? Is there a better way to keep the mind active? Well, okay, I suppose there is but you can’t make money doing that. With investing, there is always something new to learn. There are many friendly people to meet and help with your real estate business.
Starting to invest in the after-the-kids-are-moved-out years will provide several benefits:
The extra income will help your grandchildren go to college.
Enables you to get out of the house and travel.
Fund those expensive hobbies you’ve always wanted to start
Supplement your medical/medication costs.
Because you are older, you are fortunate in that you may have a little more time and money to invest in your investments. This may speed the process of accumulating wealth.
Are there obstacles if you are a senior? You bet! It’s impatience. And, all this technical computer stuff….can it be learned? Be patient and you will learn all the technical computer stuff…..heck, you got online, didn’t you?
Then there are those in the middle, busy raising children, punching time clocks, budgeting paychecks (are they shrinking?), and trying to get control of their lives. The answers are in real estate investing :
You can be home raising your children.
You do not have to punch a time clock and answer to a boss - YOU are the boss
Make your own time
The extra money will help your financial woes
You will reduce your stresses and have better control of your life!
Are their obstacles for those in the middle? Yes, it’s impatience ( kind of a recurring theme no matter what your age). Those in the middle think there is no time. Jobs, kids, marriage, etc., etc. It does not take many hours per week to build a profitable real estate portfolio. Be diligent and persistent and it will come! You CAN get your life back!
No one is exempt! The common thread for all of us is to be patient. That does not mean you wait around for things to happen. You must work, learn, and build your business. Don’t let the daily grind distract you. Don’t let others discourage you! Have faith that your investing will produce a substantial income and, with patience, your hard work will be rewarded.
James A. Gage. is a best-selling author and internationally-known expert in Lease Purchase, AKA Rent To Own Real Estate Investing and Negotiating. He Mentors One-On-One throughout the U.S. and across the world. James is also director of the Gage Consulting Group, LCC , 800 Main Street, Suite 104 Holden, MA 01520 . |
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