Millennials represent America’s largest generation. However, they lag far behind their parents and even grandparents when it comes to owning a home.
Real estate is often touted as a recession-proof, wealth-building investment vehicle for the wealthy. Property investment, though, is no longer limited to super-elite investors who are paying the initial huge sums of capital.
According to a study by the Urban Institute, home ownership rates among millennials ages 25 to 34 are about 8 percentage points lower than those of Gen X and baby boomers in the same age group.
According to Harris Interactive’s Real Estate Investment Report, 55 percent of millennials say they are interested in investing in real estate. With more money in the bank (one in six millennials has more than $100,000 in savings, according to Bank of America), this generation is leading the housing market by investing in long-haul real estate.
‘Roofstock’ is a case in point: ‘75% of users are first-time real estate investors and more than half are under 35 years of age,’ says Gary Beasley, chief executive and co-founder of Roofstock (Online Rental Real estate Market).
What is Roofstock?
Roofstock is an online marketplace where investors can buy and sell single-family rental homes remotely. In other words, Roofstock provides a more passive approach to real estate investment than traditional brokers, home travel after home travel, and of course the hassles of fixing and managing property.
Roofstock is a unique platform in the real estate crowdfunding market. Unlike most real-estate crowdfunding markets, in which investors borrow money from developers for specific projects. Roofstock gives investors the freedom to buy property. It’s just an easy and cheap way to buy a rental property.
Single-family rental properties are a strong option for most investors seeking to diversify their portfolios in a recessionary market.
The widening gap between rich and poor millennials has become a concern as most struggle to pay down student debt, let alone consider buying a home. And while companies like Roofstock are changing the whole way of investing, millennials do not need to deprive their wealth of investment in building real estate. Fortunately, with SFR, you no longer need to “buy” a house to live in, but can invest in rent-generating properties. It allows you to increase your wealth and passively make money.
In addition to investing in rental properties directly from the sofa and diversifying the portfolio through multiple locations and houses, Roofstock provides:
Free account: You can view the properties at Roofstock without paying any membership or access fees.
Roofstock, a certified property, validates and reviews before listing it on the website.
Rental cash flow and property appreciation: Similar to investing in turnkey leases, investors earn income from monthly rents and capital gains from property appreciation over time.
Roofstock Use technology and data to create an online searchable real estate database that enables investors to select and search real estate based on neighborhood grades, capped prices, and annualized rates of return.
Roofstock: Roofstock Provides a 30-day guarantee under the Roofstock Realty LLC Purchase and Sale Agreement.
Therefore, as buyer, if you are dissatisfied with the property, you can notify Roofstock in writing within 30 days after the close of the transaction. Roofstock will relist the property free of charge and, if not sold within 90 days, they will buy.
Real estate has developed into a multi-faceted investment vehicle for wealth growth. Investors no longer need to buy homes in order to live or retire.
In fact, millennial investors are doing just the opposite. By investing in single-family rentals, they are using their investments as a cash flow generator to build wealth — eventually reaching the goal of “retiring at 40.”
‘Roofstock’ is what we recommend whether you want to invest in real estate or in leasing.
Create free investor profiles here. Then answer some short questions to get custom dashboard and property Suggestions.
You can talk to their experts to get a free strategy course or answer any questions you may have.
If you need more hands-on help, you can also get training from experienced investors.
Through registration at Roofstock College, you can access more than 50 hours of on-demand coaching, 10 hours of one-on-one coaching and access to its private member coaching forum.