Gen Z Real Estate Investor Shares How He Turned $80,000 into $110,000
Gen Z Real Estate Investor Turns $80,000 into $110,000 Through Global Investments
Times are changing for young real estate investors, especially those in Gen Z. According to Newsweek, in 2023, the homeownership rate among 24-year-olds was 27.8%, showing a trend of younger individuals entering the real estate market at a faster pace than previous generations.
One such investor is Benjamin Njila Fields, a Gen Z real estate investor and UC Berkeley Ph.D. student, who turned $80,000 into $110,000 through multiple real estate investments in the U.S. and other countries. Fields shared his investment journey with GoBanking Rates, revealing his strategies and successes.
Fields’ investments span across the United States and West Africa, where he purchased land in Oklahoma, Cameroon, and Benin. His goal was to acquire acreage for future home-building projects and diversify his portfolio with residential, hotel, and agricultural properties.
One of the advantages Fields found in investing in West Africa was the affordability and potential for high returns. He highlighted the ease of building properties like apartment buildings or hotels for under $200,000, with minimal property taxes and maintenance costs. Additionally, the cash economy in African countries provided a reliable source of income, as tenants often paid rent a year in advance.
To fund his investments, Fields utilized creative financing deals and loans, including borrowing money from family and taking out personal loans. He also emphasized the importance of anonymity in real estate transactions, opting to purchase properties through a trust to protect his personal information.
Looking ahead, Fields plans to continue diversifying his investments by purchasing fixed-income treasuries or REITs to cover property taxes and ensure financial stability. His success story serves as inspiration for young investors looking to enter the real estate market and build wealth through strategic investments.