What are the best real estate investment opportunities for millennials? Keep reading to find out!
As real estate experts, the one strategy that we would recommend for millennials is rental property investing. Here is why this is the best way to invest money:
Extra money
Making money in real estate is much easier and safer with rental properties. I personally wouldn’t mind having an extra stream of income each month, much less a steady one!
Easy loans
With rental properties, you will never again wonder how to become a real estate investor with no money. As a matter of fact, rental properties are the easiest when it comes to applying for real estate investment loans. So, make sure you take advantage of that!
Related: Real Estate: The Best Way to Invest Money
Property management
Managing rental properties is not so hard. But, if you do not feel like doing it yourself, you can also turn to professional property management companies. In return for property management fees, they’ll take care of your property like their own!
Passive income source
Perhaps the greatest advantage of investing in rental properties is that you could turn them into a passive income source. In other words, you can limit your involvement to only receiving the rental income and leave the rest for a property management company to take care of.
Various opportunities
Investing in rental properties is a strategy. However, there is more to this strategy than just buying an investment property. From the different types of investment properties to the different ways you can rent them. There is no limit to the ways you can start making money in real estate. By now, I guess you can see why rentals are amongst the best real estate investment opportunities for millennials!
Related: The Best Real Estate Investment Opportunities to Make Money Quickly
So, what are the best investment opportunities in real estate for millennials when investing in rental properties?
The best real estate investment opportunities are those that combine all the factors above. Here is our selection of the best rental strategies that make becoming a landlord a lucrative choice:
#1. An Airbnb investment
Nothing could go wrong with an Airbnb investment. In some cities, it is the optimal rental strategy to follow. Renting out a room or an entire house on Airbnb has helped so many people not only make an extra income but also generate wealth. Therefore, it does not come as a surprise that this is one of the best real estate investment opportunities for millennials.
Related: The Ultimate Guide to Buying an Airbnb Property with Ease
#2. House hacking
House hacking never gets old. Are you living in a duplex house and have an available unit? Rent it out! Do you have a basement that you could turn into a living space? Rent it out! Do you have an extra room that you could share with a college student? Go ahead and rent it out!
Of course, we can’t promise you that you’ll make thousands of dollars once you start house hacking. However, we could promise you that in the long-run. After a while, you’ll find yourself buying investment properties and renting them out. In reality, this is a great way to start a real estate investing business if you do not have the financial means to do so.
So, what do you think? Is it really one of the best real estate investment opportunities for you as a millennial? Let us know in the comment section down below!
#3. Turnkey real estate properties
Turnkey properties are the best when it comes to passive income investing. Not only you get the property in its best condition but also with the tenants already renting it (most of the times). On top of that, you also have it managed already. The turnkey company will take care of the real estate property and hire a property management company. After that, it passes it out to people like you, a millennial real estate investors, who want to become landlords but still invest passively.
What are the property types that make for the best real estate investment opportunities?
Now that you know what rental strategies make for the best real estate investment opportunities, here are the types of properties that are the most lucrative for that purpose:
Single family homes
A single family home is always a good investment. First of all, it is easy to finance. Secondly, it takes less effort to manage and up-keep. In addition, it is cheaper than most other types of real estate investment properties. And finally, it is more promising when it comes to real estate appreciation.
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Multi family homes
If the idea of a single family home does not excite you, then no worries. There are always other options. Multi family real estate properties are another option you could go with. Besides the multiple rental income streams, this is a fast way to grow your real estate investing portfolio. As real estate professionals, we can promise you one thing – this is one of the best real estate investment opportunities you could have as a millennial!
Apartment rentals
If you are living in a college/university district, why not use that to your advantage. In such places, you’ll find that apartment rentals are one of the best real estate investment opportunities. Students will always look for accommodation and the rental demand in such areas are the least likely to go down.
Conclusion
As a millennial thinking of becoming a real estate investor, you should consider these opportunities. One thing to always keep in mind is that the number one factor of profitability in real estate investing is the return on investment. Thus, before you buy any type of investment property mentioned in this blog, make sure you calculate that.
Actually, we have something to offer you: the investment property calculator. As a real estate investor, you will never have to deal with numbers as long as you use this amazing tool. Click here to learn all about it, and here to sign up to our website and start looking for the best real estate investment opportunities around you!