Downturn Forces College Students To Invest

Downturn Forces College Students To Invest



Downturn Forces College Students to​ Invest
Due to​ changes in​ the economy, more and more young adults are turning to​ investing in​ order to​ have enough money to​ care for their aging parents and be able to​ save for their own retirements as​ well.
Two such young adults are Kevin Amolsch and Stephanie Jorgensen of​ Denver, Colo., who found themselves working full-time at​ a​ bank, going to​ college and wondering about their futures.
Our parents had absolutely no retirement accounts, and they worked all of​ the time, said Jorgensen .​
Neither of​ us wanted to​ still be working that hard in​ our 50s and 60s .​
.. .​
More importantly, we want to​ take care of​ our parents just the way that they have taken care of​ us.
Even though they were only in​ their early 20s, Amolsch and Jorgensen decided to​ take on the complicated task of​ investing in​ real estate .​
They did research on the Internet and read books .​
Then they looked for properties that had been on the market for a​ long time.
They found that the majority of​ homes on the market were unsuitable for investors, however, since the sellers were looking for someone to​ pay full price .​
As investors, Amolsch and Jorgensen were looking to​ negotiate.
Investors usually find the best deals with sellers who are under pressure to​ close deals quickly, yet who don't need the money from the sales right away .​
Good candidates are landlords who are tired of​ dealing with tenants, or​ sellers who have moved out of​ state and already bought other homes.
Amolsch and Jorgensen had to​ talk with more than 100 sellers until they found someone who was motivated enough to​ sell to​ an​ investor .​
They bought two properties within the first year.
If two college kids living off of​ rice and Top Ramen can do this, anybody can, said Amolsch.




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