Now that we have officially started the New 2023 Year… this is when I love taking the time to study insights and reports from 2022 housing data.
Here is something I came across from “The 2022 Consumer Insights Report” where Mynd had some interesting statistics of our Gen Z and Millennial homebuyers (see quote in graphic).
So why would younger buyers make their first real estate purchase as an investment property?
Well, this strategy allows buyers to continue living in their current location, like the bustle of a city apartment or a neighborhood that they know and love, where they couldn’t afford to buy...
But instead of giving up on the idea of owning a home, they buy a home in a more affordable area with the intention of renting it out.
In a way, they’re getting the best of both worlds.
They live where they want, and they still own a home where they can afford it.
Their goal is to generate passive income and diversify their assets.
It works like this: in addition to having a rental stream of income, the equity they build in their house will also help grow their net worth over time.
Are you curious about executing a strategy like this yourself?
Let me know! I'm happy to help!
#HouseHacking #RentalProperty #InvestmentProperty #PassiveIncome #CashFlow
#BuildWealthThroughRealEstate #FTHB #FirstTimeHomeBuyers #FTHBSpecialist
