Do Gen Y investors miss out on the fun of being young?
Mitchell Shad is among those in the “younger side” of property investment, but unlike many young investors who choose to sacrifice life’s luxuries to achieve their goals, he has made sure to strike the balance between taking responsibility for his future and enjoying his youth by travelling and other activities.
At the age of 24, Mitchell has built an eight-property strong portfolio while working as a full-time mortgage broker.
“I’ve come from a very financial family. My dad was an accountant. My brother did the same degree as me. It’s just always been in the back of my head and doing the degree and just always having that brain on me, it’s just always been a thing. I’ve looked to the future, I’ve lived for tomorrow, which I think is massively important,” he shared with Smart Property Investment.
While he has certainly been dedicating a lot of time and attention to his investment journey and his job, the young investor said he has not needed to do a lot of big sacrifices to ensure that he achieves his goals.
For him, working hard now is a worthwhile effort for a more secure and enjoyable life in 10 to 20 years’ time.
According to Mitchell: “End of the day, I’ve been to the US for six weeks. I’ve been to a lot of different countries around the world for different holidays. Working full-time and investing and having a bit of money allow me to do it better even now. I’m just not able to go do that six, 12-month trip overseas and backpack around the world which, yes, is a sacrifice, but I don’t see it as a massive sacrifice.”
“I think my enjoyment in life comes from knowing that my future is going to be secured, and those sort of trips that the three- or four-week trips I can have every now and then will let me experience the world as well. I see it as a sacrifice, but it’s definitely a sacrifice I’m willing to make,” he added.
His words of wisdom for fellow young professionals who are looking into starting their own property investment journey: Everyone can do it, and anyone can certainly have their cake and eat it, too, as long as he is equipped with good education and the right strategy.
Mitchell concluded: “There [are] no sacrifices from a general wellbeing point of view. It’s not like that at all. Generally, properties, good properties will cover themselves. It’s more just about getting that foot in the door. I’d always say make sure you do your research and you know what you’re signing up for, you know what you’re getting into, because a bad decision can affect your ability to keep going as well.”
Tune in to Mitchell Shad’s episode in The Smart Property Investment Show to know more about his strategy to reach his ‘10 properties by 30’ goal.
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