Investing in property is means that adding assets. When paid in full and managed well, the investment will remain an asset, while providing passive income monthly and capital appreciation. Kept for a longer time, this asset can also be passed on from one generation to the next generation.
Actually, trying to investing when you are still young is obviously not an easy decision for you to make, but it is not impossible as well. With the right mindset and plan, it’s the best age and best time to begin for the investments.
For a successful investment, young generation should:
1. Be in the know
Being tech-savvy is another advantage for young generation, as there are apps, online courses, financial and educational property websites, blogs and social media, which offer valuable guidance for you. What matters most is getting your research done and get the right knowledge base before venturing into property investment. You should read up on books by financial and investment gurus, and attend talks and forums to get invaluable insights from property experts and investors. You can learn from their mistakes and avoid the pitfalls of property investment.
2. Buy to generate income
There are some young generation who are considering to buy the property for their own use, but i suggest that the best investment is to rent out the property. The investor would get capital appreciation and monthly rental at the same time and it’s not necessary to fork out money each month. So it’s better to let tenants pay for your investment.
3. Choose the right property
For the young generation to have a successful investment, it is important to choose the right property which will grow in value and will attract the potential tenants. You must start with smaller-sized units such as studio units and SOHOs priced below RM500,000. So it is best for you to evaluate the surrounding areas, the growth indicators and upcoming infrastructure, existing and future amenities, and so on.
Finally, to be successful in investment, these are the way that will help young generation to become successful in future. So, young generation must read these points and know about how to use the way for investments carefully.
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