Soon, everyone may have to become a real estate investor. Whether you love or loathe the idea of being a full time real estate investor, there may be few options to consider in the future. Let’s take a look at why, and the best time to get in.
Jobs, as we have come to know them, are becoming extinct. Real estate is likely to be one of the only constants individuals can count on for income and wealth. Recognizing the following cycles will help everyone become an effective real estate investor ,whether it is a full or part time gig:
The Next Evolution
While real estate has continually rotated in predictable cycles for generations, the same isn’t true of business and employment trends. Humans have evolved from previous trends to increasingly becoming entrepreneurs.
In one way or another, workers will be forced into some level of entrepreneurship to earn a living. Many Americans are still having a hard time getting their heads around this. Meanwhile, in Canada, a recent student survey revealed that around half of its respondents expected to start their own businesses when they leave schooling.
Ultimately, we will still need people that will want to become doctors, firefighters, lawyers and presidents when they grow up. However, many other positions are quickly going the way of the dinosaurs, especially in the United States.
According to one recent prediction, by 2030, a huge percentage of manual labor jobs will be replaced by robots and machines. Throughout the world, extremely talented and remote staff can be found for 10 to 30% of what U.S. resident workers demand. With independent contractors and freelancers costing a fraction of in-house staff, more companies will completely alter their models in this direction and most new companies will only outsource. As taxes and healthcare costs rise, this will become even more pronounced.
At the same time, giant corporations are turning to ‘acquihires’ and fires; buying out the competition, keeping the top talent and folding the purchased company. Following the Steve Jobs lead, even those workers that retain in-house jobs will increasingly be turned into ‘intrapreneurs’ working autonomously a large percentage of the time.
You Can’t Ignore the Prospects of Being a Real Estate Investor
People are also changing their goals, values, and aspirations for the quality and the type of lifestyle they dream of. For most, this means more freedom, more spare time, and more passive income. Real estate investing can deliver on all of this.
You don’t need to know how to code, create apps, or even like Facebook, be great with your hands or have a significant education to make money in real estate.
Even those that are making a great living in other ways, or are more passionate about other things, will find real estate a must for their portfolios.
Why Become a Real Estate Investor Now?
Knowing what the future holds, it’s better to get a head start. Right now there are more deals, better bargains, lower interest rates, less competition and the advantage of compound gains over time.
15 years from now might be a tough time to get started! It would be great if you’ve already got a system down, have made the cash to take advantage of market fluctuations or have rentals and can ride it out while raking in more income.