The Legion of ‘Rentvestors’ Continues to Grow
It sounds like a made-up word akin to “Sharknado,” but rentvestors – often younger adults – choose to rent a place and, at the same time, buy investment property.
CHICAGO – Younger generations are showing a desire to buy investment properties before – or even instead of – a primary residence.
Mynd, a high-tech property investment and management firm, dubbed these buyers “rentvestors” in its 2022 Consumer Insights Report, based on a survey of more than 1,000 consumers.
“Young people are discovering that buying an investment property gives them the best of both worlds: They can live wherever they want, including cities where they can’t yet afford to buy, and still become property owners, which, as we learned in our survey, is still considered an important part of their American dream,” says Doug Brien, Mynd’s founder and CEO.
“Buying an investment property means they can go where their life, their work and their sense of purpose take them without being tied down, and still benefit from the diversification, appreciation and tax benefits of real estate investing,” he adds.
Source: National Association of Realtors® (NAR)
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