2022 Consumer Insights Report(link is external)<\/a> shows. That compares to just 9% of baby boomers and 27% of Gen Xers who are using the same wealth-building strategy. Some first-time investors see this as an opportunity to make more money and better afford a lifestyle in larger, more expensive markets, the report notes.<\/p>\n\n\n\n\u201cYoung people are discovering that buying an investment property gives them the best of both worlds: They can live wherever they want, including cities where they can\u2019t yet afford to buy, and still become property owners, which, as we learned in our survey, is still considered an important part of their American dream,\u201d says Mynd founder and CEO Doug Brien. \u201cBuying an investment property means they can go where their life, their work and their sense of purpose takes them without being tied down, and they can still benefit from the diversification, appreciation and tax benefits of real estate investing.\u201d<\/p>\n\n\n\n
As the economy teeters on the brink of recession, diversifying a portfolio may become a bigger priority for prospective buyers. Brien notes that many millennials, who came of age during the Great Recession in 2008, watched their parents and others face great financial loss because they were overleveraged on their mortgages. \u201cThis cohort is also more skeptical of the stock and bonds market,\u201d Brien says.<\/p>\n\n\n\n
But young adults appear optimistic about real estate\u2019s long-term potential. Brien says he believes many of the younger people buying investment properties don\u2019t necessarily view it as a step toward purchasing a primary residence but as an investment that will live alongside their home one day.<\/p>\n\n\n\n
The Remote Investor<\/h2>\n\n\n\n
Remote investing is another trend helping more first-time investors take the leap. More than half of the properties Mynd manages are owned by out-of-state investors. The company has predicted that number to grow as technology makes it easier to buy and manage investment properties from afar. That doesn\u2019t appear to be a scary thought to consumers: Seventy-two percent of the more than 1,000 survey respondents say they\u2019d consider buying an investment property in a different city or state than where they live.<\/p>\n\n\n\n
\u201cFor decades, the real estate investment class was seen as too complicated and intimidating for many consumers,\u201d Brien says. \u201cFast forward to today: Consumers now have access to a slew of tools and platforms that demystify the real estate investment process.\u201d He added that Mynd\u2019s mission has been to help inspire a new crop of investors \u201cwho were previously too intimidated by real estate or were constrained to investments within commuting distance.\u201d<\/p>\n\n\n\n
Tech property management companies have been introducing tools to help novice and experienced investors alike find, finance, purchase and manage properties remotely.<\/p>\n\n\n\n
As recession fears mount, single-family rental investments could grow into an even more attractive asset class, Brien says. \u201cAs inflation rises, rents are bound to rise, which increases potential cashflow for property owners.\u201d Twenty-eight percent of survey respondents say they\u2019re considering purchasing an investment property now, despite the current economic climate. \u201cAs the Federal Reserve increases interest rates in an effort to tamp down inflation, that can impact demand for rental homes, too,\u201d Brien says. \u201cIf it becomes more expensive for potential buyers to finance a purchase, fewer will be able to afford it. This will increase demand for single-family homes and create more upward pressure on rental prices.\u201d<\/p>\n\n\n\n
\u00a9National Association of REALTORS\u00ae
Reprinted with permission<\/p>\n","protected":false},"excerpt":{"rendered":"
Many under the age of 40 are looking at real estate as a means to generate income rather than looking for their own home to live in, a new survey shows. A growing number of young adults are charting a different path toward building wealth through homeownership, prioritizing buying an investment property before a primary … <\/p>\n
Continue reading<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16,8],"tags":[5,32,4,9],"class_list":["post-21306","post","type-post","status-publish","format-standard","hentry","category-news","category-real-estate-tips","tag-anthony-didonato","tag-news","tag-real-estate","tag-tips","item-wrap"],"yoast_head":"\nYoung Buyers Focus on Investment Properties to Build Wealth - Real Estate Agent and Sales in PA - Anthony DiDonato Broomall, Media, Delaware County and surrounding areas in Pennsylvania<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.anthonydidonato.net\/wordpress\/young-buyers-focus-on-investment-properties-to-build-wealth-2\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/young-buyers-focus-on-investment-properties-to-build-wealth-2\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/young-buyers-focus-on-investment-properties-to-build-wealth-2\\\/\"},\"author\":{\"name\":\"admin\",\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/#\\\/schema\\\/person\\\/964792b6994e8cc4cbddc36ad4824908\"},\"headline\":\"Young Buyers Focus on Investment Properties to Build Wealth\",\"datePublished\":\"2022-11-17T13:17:31+00:00\",\"dateModified\":\"2022-11-17T13:17:32+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/young-buyers-focus-on-investment-properties-to-build-wealth-2\\\/\"},\"wordCount\":677,\"publisher\":{\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/#\\\/schema\\\/person\\\/964792b6994e8cc4cbddc36ad4824908\"},\"keywords\":[\"Anthony DiDonato\",\"News\",\"Real Estate\",\"tips\"],\"articleSection\":[\"News\",\"Real Estate Tips\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/young-buyers-focus-on-investment-properties-to-build-wealth-2\\\/\",\"url\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/young-buyers-focus-on-investment-properties-to-build-wealth-2\\\/\",\"name\":\"Young Buyers Focus on Investment Properties to Build Wealth - 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