How Millennials Are Using Real Estate To Make Money In Phoenix

Real Estate To Make Money

Millennials all over the country are using real estate to make money. Some people might give them a bad rap, but people of all ages can learn a thing or two from their unique investment styles. Learn how you can use investment real estate to generate extra income as well in our latest post!

Real estate investment is not just something older generations can benefit from. All over the country, millennials are using real estate to build wealth and the lifestyles they desire. In some cases, real estate investment is helping the millennial generation avoid working 9 to 5 jobs that really don’t hold meaning for them. No matter how old you are, real estate done right is an excellent investment! Keep reading to learn more about how you can buy and sell properties to generate a stable income for you and your family.

Thinking Outside The Box

First, you spend some time renting, then a starter home, then maybe you buy an investment property. This is how it is done right? Wrong! Millennials are turning this upside down and getting their feet wet in investment real estate earlier than ever. Many choose to continue renting, allowing them to pick up and move to where the action is at any given moment.  There’s some real value in that type of flexibility.  On the plus side of this type of planning, when they have an investment property that literally pays for itself, they will have a house to move into, free and clear once the mortgage is paid off from rental income.

Finding The Right Properties

When looking for investment real estate in Phoenix, not every listing is going to turn into a profitable investment. You need to run the numbers and know where to look. The MLS isn’t the best place to find investment properties as this is where everyone is looking. Homes are priced as high as the market will allow and typically won’t be the kind of deals you are after. To find the best deals, you can either opt to work with a professional such as Property Cartwheel who always has a wide range of properties available. Or you can choose to scout them on your own. To find them on your own, network with other investors and drive the neighborhoods you are interested in. Many sellers will appreciate the convenience of working with a cash buyer, so try to have the funds ready to go ahead of time.  There are ample funding sources for deals that really are deals.

Finding A Partner

Many millennials are choosing to partner up in an effort to find the best deals. By working with a partner or a team, investors can learn the ropes and find properties they likely wouldn’t have been able to find on their own. Many of these properties are what industry “insiders” call off-market deals.   When working with a partner, make sure your skill sets compliment each others’. Maybe one of you loves the deep dive into data, while the other is a natural at talking to people and building rapport very quickly. Working as a team will help you both to grow both professionally and personally.

Working With The Right People

As a real estate investor, it is important to have the right team of individuals to help you along your way. By partnering with the right people and finding the right mentors, you can almost guarantee you will give yourself a chance at binge successful in a new arena.  Make sure you have a top-notch accountant, a reliable lawyer, and if you’re newer, an agent whom you trust and who knows professionals who buy and sell in the area. Property Cartwheel is a professional home buyer and seller that works with people of all ages.  We love helping people find the best deals on investment properties, helping people use real estate to make not only money but a difference in their lives.

Are you ready to buy a Phoenix investment property? We can help! Send us a message or give us a call today! (602) 888-3205

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