A new generation of passionate entrepreneurs are becoming increasingly successful in a wide range of fields. From tech start-ups to boutique fashion brands to social media moguls, they are taking the world by storm. With their new-found wealth and valuable assets, investment is becoming a greater priority. Though many of these young entrepreneurs are excelling in the online world, traditional bricks and mortar investments are proving popular.
The name ‘millennipreneurs’ has been coined to describe these new industry leaders. Aged between 20 and 30 these entrepreneurs are driven, successful and ambitious. A massive 75% of successful millennial entrepreneurs surveyed said they were expecting profits to increase in the next year. Success is being earned far younger than ever before, with most starting their business around the age of 27.
Property investment has a double appeal for savvy young entrepreneurs looking to maximise their profits. A combination of monthly rents and capital appreciation means that property investment is a great way for them to both earn money from their investment in the short term and sell it on for a profit in the long term.
As business owners, these new entrepreneurs won’t necessarily have a company pension, like employees of larger companies would. This means that investing in their future and thinking about retirement is imperative. Property investments mostly gain substantially in value over a longer period of time. This can make them a great alternative to other forms of investment which hold a greater level of uncertainty. Building a varied property portfolio with a wide appeal can be a worthwhile venture for young entrepreneurs. For people who are becoming successful younger than ever before, thinking about the future is surprisingly high on their priorities.
Many of these young entrepreneurs are part of generation rent and understand the growing need for rental property. Their peers are far more likely to be in rental accommodation than to own their own home. It’s been predicted that a third of UK millennials will be renting into retirement. Young people who own property are in a significant minority. The increasing number of young renters who these entrepreneurs can relate to highlight the very real demand there is for rental property.
These ‘millennipreneurs’ also understand the increasing demands that young renters are making of their property. With renting becoming a permanent feature of millennials lives, they are looking for a property that suits their needs. Properties like those offered by RW Invest have been tailored to match these needs. Features like high end design, eco electric heating, 24/7 concierge service, superfast broadband and CCTV surveillance are just some of the benefits that tenants can find. These kinds of properties not only have huge rental appeal, there’s also huge potential for capital appreciation. As the younger generation switches to a more European style viewpoint, where renting is the norm, savvy young entrepreneurs are investing in this opportunity.
With both rental returns providing income and capital appreciation providing a long-term investment, many new entrepreneurs are seeing property investment as a worthwhile endeavour. The lasting appeal of buy to let property investment can be seen in the increasing number of entrepreneurs who are starting to build a property portfolio younger than ever before. Property remains a secure and lucrative investment, with a relevant appeal to young, ambitious entrepreneurs.