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Downturn Forces College Students To Invest
By John | August 21, 2010
Because of changes within the economy, a lot more and a lot more young adults are turning to investing so that you can have enough funds to care for their aging moms and dads and be capable to save for their own retirements as well.
Two such young adults are Kevin Amolsch and Stephanie Jorgensen of Denver, Colo., who identified themselves functioning full-time at a bank, going to college and wondering about their futures.
“Our mother and father had totally no retirement accounts, and they worked all the time,” said Jorgensen. “Neither of us wanted to still be working that hard in our 50s and 60s. . More importantly, we desire to take care of our mother and father just the way that they have taken care of us.”
Even though they have been only in their early 20s, Amolsch and Jorgensen decided to take for the complicated task of investing in real estate. They did study about the Web and read books. Then they looked for properties that had been on the market for any long time.
They discovered that the majority of homes available on the market have been unsuitable for investors, nevertheless, because the sellers had been searching for an individual to pay complete cost. As investors, Amolsch and Jorgensen were looking to negotiate.
Investors generally find the best deals with sellers who are under pressure to close deals swiftly, yet who don’t require the cash in the sales proper away. Great candidates are landlords who are tired of dealing with tenants, or sellers who have moved out of state and previously purchased other properties.
Amolsch and Jorgensen had to talk with more than 100 sellers until they identified an individual who was motivated enough to sell to an investor. They purchased two properties within the initial year.
“If two college kids living off of rice and Top Ramen can do this, anybody can,” stated Amolsch.
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Topics: Investing |
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