My Friend Jill over at GAT (Great American Title) just north of the 032 sent this article over:
Young people are investing in real estate — just not the same kind as their parents
Have been saying we need this group to come to market if housing is going to continue to flourish. Article acknowledges the millennials have returned but not the way we expected. In fact the whole starter home idea is out the door. Some millennials are by-passing the fixer-upper all together and buying turnkey investment properties. Interestingly enough they have invested in multiple markets that rent and cash flow from the start.
Sounds really good, but I’m skeptical? You have to be pretty savvy to be an out-of-state investor. Generally the people I have seen do it well have been involved in real estate for some time and what they bring to the table is experience.
Roll up your sleeves folks. Moving forward, the best equity is sweat equity!
BTW Anyone got a picture of an 032 street sign yet?