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Should You Invest In Real Estate While In College?
The real estate industry is very lucrative. In the United States alone there are about 351,000 companies inside the industry with a total combined revenue of $469 billion. The Real Estate Sales & Brokerage industry alone attained a total of $156.1 billion in revenues in 2021. It is continuously growing and offering a lot of potentials and possibilities even for young adults like college students.
While most college students are busy juggling classes, dating and attending parties, a few students choose to work in the real estate industry to be able to achieve financial independence. It may seem impossible to hear someone still in their college years involved in real estate investing, but it is quite possible. It might be rare, but not impossible.
One of the common connotations with college students in the real estate industry is that most college students do not have the financial resources to begin their journey in investing, let alone real estate investing. They have limited funds, limited credit lines, limited or no time and lack the experience in becoming a productive and efficient professional in the industry.
Reasons to Invest in Real Estate While in College
Here are a few reasons why you need to consider real estate as an investment.
Real Estate is a Steady Source of Income
Investing in real estate can offer a steady source of income, especially for students. If you do not have the resources to invest in real estate, consider selling properties instead. There are plenty of realtors who welcome college students in their stead to become trained and successful real estate agents. It also offers you the opportunity to learn the ropes of the industry before actually investing on your own property.
As you earn commissions on selling properties, you can begin building your finances to purchase your first investment property. Start with small investments as you work your way to the top. Real estate may be lucrative but it is not an overnight process.
As you learn the jargon and gain experience in the industry, you also get the chance to create a financial cushion that can go as far as your adult life. If landing in a job becomes challenging for you, you can always have real estate as your back up plan for success.
It Helps Diversify Your Credit Portfolio
As you begin your journey in real estate investing, as early as your college years, it gives you a chance to start with your credit portfolio earlier. Your credit portfolio is a collection of your investments, based on credit relationships gained through financial intermediation activities.
Why does it pay to have a solid credit portfolio? Although it may seem irrelevant for now, diversifying your portfolio helps you get access to higher spending credit limits. If you plan to finance a car or a home for yourself after college, it helps you qualify for better deals and lower rates in terms of car loans, personal loans and home loans. Building your credit score as early as your college days gives you a headstart in achieving a good credit score.
Education and Building Experience
Another advantage that you can enjoy working or investing in the real estate while in college is the education and experience you’ll get from the industry. Although there are a lot of free online resources to help you learn in the industry, nothing beats on-hand real experiences.
Surrounding yourself with professionals and working together with realtors, businessmen and your clients gives you training in how to handle yourself in public. It allows you to grow your confidence as you do presentations, transact with clients and deliver the demands expected from a real estate agent or investor. You can easily work your way in harnessing your social and professional skills as you work in the real estate industry.
Although working and investing in real estate is really profitable once you put your heart and dedication on it, remember that it should not be your priority. You still need to create a balance between school work and investing, while having fun and memorable experiences during your college life. Try not to miss out on the great things and other opportunities and experiences happening around you. Consider investing in real estate a passive way to generate a sizable income without taking a toll to your studies.
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