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Is real estate investing available to students?
As a student, you have your primary experience of independence. You need to think of a place for a living, prepare food, do house chores, perform academically and socially well, all at the same time. In the same way, college time is good to build up your financial independence. With no job experience and a student loan burdening you, financial freedom seems distant and impossible. Still, a primitive part-time job is not the only option you have to change your financial status. In recent years real estate investing is becoming more and more popular among students, bringing the opportunity to make good money out of a small budget and a well-prepared approach. Discover the possibilities to become a real estate investor as a college student and build up your own way to prosperity.
You cannot just jump into real estate investing with no ideas and finances behind and expect it to work out of the blue. It would be best if you got prepared well first. There is no need to enroll in the most prestigious and costly courses if you cannot afford them. Self-education will be a budget option opening you to a bunch of opportunities in the world of real estate.
Start with a thought that your primary aim is to establish complete financial independence and not excel as a real estate expert. So, set realistic goals from the very beginning. When it comes to relevant knowledge and skills, select the way of learning that appeals to you the most. There are plenty of books on how to begin real estate investing as a student. Go around the libraries or go online to find the best ones on the topic. Tune in the thematic and inspirational podcasts on your way to work or college to advance from the commute time and grab some ideas. Get subscribed to real estate news, email courses, online magazines. Finally, you can attain precious experience and knowledge firsthand, inviting a practicing real estate specialist for a cup of coffee. It’s up to you what means to choose. The point is to spend enough time and effort before you set to practice.
Nigel Carrow, a third-year student and a real estate agent, shared his experience, ‘I remember searching for college essay writing service when I noticed some free real estate investing consultation offer. This was the beginning of my financial independence. I spent nights investigating the topic, reading books and blogs of professional real estate agents. And now I am here. I am doing wholesaling. With no risk but only profit for my financial status. I still have a long way to cover, so I never stop learning to prosper as a specialist and a person.
Opt for Hands-Off Investing
If you wish to stand aside from the whole real estate process but only invest and collect profits, you will have two options described below:
- REIT – stands for Real Estate Investment Trust. This is majorly a real estate investment company that invests money in significant real estate and other shareholders. The good thing here is that you can invest a small amount of money but get profit in any case. The more you invest the more you earn.
- Syndication – in this case, shareholders are a self-organized group of individuals who buy a bigger real estate together to get profit out of it. Again you can make a minimum investment to buy a house together with several more people. Then you will decide together whether to turn it into a rental house or make any other manipulations and share profits.
While with the company, you can be more or less sure about its trustworthiness, you should cooperate with reliable people only when it comes to syndication. So, when you start your self-education in the real estate field, it is essential to get to know the relevant specialist and get in the circle of other real estate investors. Luckily, in three days you can even create syndications online within relevant groups and forums you can rely on.
Make Money on Wholesaling
Another option to make money on real estate is to go wholesaling. The main perk is that you don’t need to invest any money. Your sole task is to find a person who wants to sell a house and help them encounter someone ready to buy a home with real cash here and now. You will have to move around the neighborhoods back and forth, acting as a middle person. But you will earn the difference between sold and bought price in the end. Still, you cannot emerge out of anywhere and act as a real estate agent specializing in wholesaling. There should be proper education and certification first, and maybe introducing you as an estate agent by an already successful specialist or company in the area.
Become a College Landlord
If you have access to some more considerable funds, you are eligible for taking a loan, or your parents are ready to become your shareholders, becoming a landlord is the best option for you. You are to buy a family house which is too big for you to live in so that you need only one room out of it. Meanwhile, you will invite other students to rent the spare rooms. The rental cost will help you to pay off the house value and even earn some money on top of that. In several years you will be a happy owner of the house and collect quite a fortune with no hurdles.
Still, the whole activity as a real estate investor in your student years is not that cloudless as it may seem. You need to get prepared thoroughly, cooperate with trustworthy people only, measure the risks and create business plans. Only with decent efforts and expert advice can you reach success in the real estate field as a student.
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