Page 18 - iNetrepreneurfall2019

How the Urban Pioneer Can Make

You a Real Estate Millionaire

-by Seti Greenberg

“Buying real estate is not only the best way, the quickest way, the safest way, but the only way to be-
come wealthy.” - Marshall Field

Once a neighborhood was filled with dilapidated buildings and empty storefronts. You return a couple
of years later and see restaurants, boutiques, beautiful green spaces, and lovely homes and apart-
ments. You probably think to yourself, “I wish I were smart enough to invest in this community.”

So, how do you know where that businesses, and investors. Many • Select the right investment
next smart investment lies? investors are using funds from partner. Work with people who
IRAs and 401K plans as a means know the market and can back-
From Manhattan’s Upper West of growing tax-deferred and tax- up their strategies with facts and
City to Ohio City in Cleveland free income. Recent graduates, data. Download our Guide to the
to Bucktown/Wicker Park in young families, and future-looking 21 regions that are poised for
Chicago, communities within and professionals can find affordable rapid and long-term growth.
outside Opportunity Zones are real estate. Investors can see
being transformed by visionary huge returns because they are • Seek a turnkey solution. Choose
developers who know how to able to get in on the ground floor an investment company that
spot trends. and often enjoy tax benefits as handles all aspects of purchasing,
well. renovating, and selling or renting
Investors are making millions by investment properties. Although
focusing on the Urban Pioneer -- Unlike some other real estate we use the term Urban Pioneer,
those people and companies that investments, this trend is time- some suburban areas are ripe for
buy real estate in areas that are tested and somewhat predictable. redevelopment and investment
on the fast-track to a renaissance. We have been studying as well. The suburbs as we knew
Transit systems, the influx of big communities that have thrived them have been evolving, along
brands like Starbucks and Costco, as businesses and homeowners with population, demographic,
and the presence of technology settle into high-potential areas and lifestyle shifts.
and financial services companies throughout the country, and have • Be patient. Many areas where
(and their employees) accelerate a predictive data-driven model Urban Pioneers settle take a
development speed. for determining where the best while to reach their full potential.
investments lie. For example, median rents in
These neighborhoods “Urban Queens, New York have increased
Frontiers” — whether in To get started investing in the about 40 percent over the past
Opportunity Zones or not — are a Urban Pioneer, follow these steps: decade but the growth has been
win-win for homeowners, renters,
a consistent steady climb.

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