Starting Investing NOW (Even if It's Not in Real Estate) - Ideal REI

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Starting Investing NOW (Even if It’s Not in Real Estate)

You haven't started saving because it's too hard. You just don't have the money.

That's just an excuse and you know it.

It's really easy to start saving - reach into your wallet, take out $20, put it into the bank.

Good job. Now do it again next week.

Pretty simple, right?

It's like asking - when is the best time to plant a tree?

20 years ago, of course.

The next best time is today.

Invest is pretty easy too. You just need to start NOW, because it will never come if you don't start now.

Why You Need to Start Investing now

Obviously, you don't want to make bad investments and lose your money, but what I'm trying to illustrate is that you just need to invest in something.

Every dollar of investment income you make is one less dollar you need to work for.

If you can earn $100 in interest every month, that's a lot less work you need to do.

Or, you can reinvest that money each money and grow it exponentially. Soon, the dividends will grow to a point that you don't need to work anymore.

The worst case scenario is your investment money can grow to a point that you can reallocate it to something even better. For example, you could save up until you have enough for a down payment on a new rental property.

Ways to Start Investing Today

You may not be in a position to buy property, but that doesn't mean you shouldn't be investing! Here are a few things to invest in even if you don't have a ton of money.

Investing Apps

If you only have a few bucks here and there to invest, you might want to pick an app to help you out.

Investing apps like Acorns are designed to help you invest small dollar amounts. Acorns is an app that just rounds up your purchases and invests the difference.

Think about it this way, Imagine if you spend $1.73 on a coffee on your way to work. Could you afford to pay $2?

Of course. So, Acorns takes the extra $0.27 and invests it for you.

It does this for every purchase and you never notice. Eventually, you have a real portfolio.

Here's the cool part - if you use this link to signup, you'll get a free $5 to get started!

Real Estate Crowdfunding

I'm a huge fan of alternative forms of investments and crowdfunding is definitely one of my favorites.

Basically, crowdfunding lets you pool a small amount of money with other investors. Together you can buy large investment properties that you'd never be able to buy on your own.

A great example is Fundrise for an example of an alternative investment related to real estate. You can invest as little as $500 and invest in a portfolio of income producing properties.

Check out Fundrise here.

There are almost a hundred other options available in the market as well. If you'd like to see a more thorough comparison, check out our crowdfunding comparison.

BUSINESS OWNERSHIP

You can be the owner of a business in two ways: buying an ownership interest, or starting your own company or franchise.

Starting your own company is a great way to build up a lot of wealth and residual income. It is important to remember that when you start your own company, you will also be working for that company and will have a dual role of owner and as manager. Though you are the owner, you still have the job of running the business.

It becomes a true investment when you hire a manager or sell to a larger company and you retire from day-to-day activities while maintaining an ownership stake.

The other way is to have an ownership interest in the company.

The majority of people do this through investing in stocks, but you could also help fund a company during startup or an expansion in return for a percent of the company.

REAL ESTATE INVESTING

Real estate is my preferred investment category and it has provided me a lot of wealth and great residual income.

While you need a bit more than some of the other investing options, you can do it with relatively little money. With loans for owner occupied buildings, you can get up to 4 units and pay as little as 3.5% down.

The thing about real estate is when you first start out, it can be like a job. Over time though, you can remove yourself from the day-to-day management of property, and focus more on just acquiring more investments.

I like real estate because it's easy. You see what you get. You know what it's worth. and it is very stable with prices increasing or decreasing steadily over time.

There are also a lot of barriers to entry and fear surrounding real estate investing. Any time it's difficult for people to enter, and the average person is fearful, then it creates great opportunities for those who overcome that.

Get Over Your Fears and Start Investing Today

The most important reason why you need to start investing is to overcome your fears. So many people are afraid of it or think it's impossible to get started.

Once you get started you'll realize it's easy.

When you see your first interest payments, you'll realize it's safe.

...And you'll be walking down the road toward financial independence.

About the Author Eric Bowlin

Eric is an investor that achieved financial independence at the age of 30. He started in 2009 with the purchase of his first triplex and now owns over 470 units. He spends his time with his family, growing his businesses, diversifying his income, and teaching others how to achieve financial independence through real estate. Eric has been seen on Forbes, Trulia, WiseBread, TheStreet, and other financial publications.

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