Although it may seem impractical to invest in real estate at a young age, it may be the best decision you can make. Trust us. It is a worthwhile investment that you will be thankful for for many years to come.
Real estate creates cash flow in numerous ways. Renting out a room or space in your house can help you pay off your mortgage and other housing related expenses. If you have the means to invest in more than one property, if you rent out the second property, you can use the income from the second property to pay off both mortgages. When your mortgage is paid off, you will have an extra wad of cash in your pocket that will accrue tremendously over the years.
Your wealth growth will also be accounted for because of appreciation. Housing values appreciate over time. You will see your investment double or triple over the years.
Additionally, real estate is great leverage. Although not ideal, by consistently paying down the mortgage, you have the opportunity to tap the equity you have built up. Your investment offers something to lean on during rainy days.
Lastly, real estate provides tax advantages that are not available to renters. If you have multiple properties, landlords are able to deduct items such as interest, insurance, maintenance, and even depreciation over time as business write-offs. Your real estate investments act as your businesses in their own right.
It is clear that real estate provides guaranteed financial security that you will not receive from any other investment. Don't hesitate! It is never too early to get the financial freedom that you deserve!