Theyre not making it anymore.
Mark Twain
Katie Smith had always been a saver.
Even at a young age, shed managed to save thousands of dollars.
But she was tired of watching her savings just sit in the bank, doing absolutely nothing.
She needed a way to make her money grow.
I had it all sitting in a savings account, getting something like 0.01% interest.
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Like many people, Smith didnt trust it to keep climbing much longer.
I think everything is a little overvalued right now, Smith says.
She had always liked the idea of owning real estate.
Its pretty limited in supply, she says.
I like the idea that its super tangible.
Did you know?
To start investing in real estate, you generally need a lot of money.
Houses or land can cost thousands or hundreds of thousands of dollars.
And once you buy some rental property, youll have to play landlord, which can be a pain.
Smith had saved herself a few thousand dollars, but it wasnt buy a house kind of money.
After all, the college senior was just starting out in life, studying accounting and finance at Georgetown.
Building Her Portfolio
She wasnt liking her investment options savings account or stock market?
but then she heard aboutFundrise.
Fundrise allows her to invest her money into two portfolios that support private real estate around the United States.
It does all the heavy lifting for her and plays landlord on her behalf.
I can go into my Fundrise account and see what I actually own, Smith says.
I own a piece of an apartment complex in Ann Arbor, Michigan.
Property on the West Coast.
Bits and pieces of apartment complexes in Texas and Denver, a construction loan, a mixed-use property.
Fundrise lists an average annualized return of 11.44% in 2017.
Investors pay 1% in annual fees a 0.85% asset-management fee and a 0.15% investment advisory fee.
Cash flow typically comes from interest payments and property income (e.g.
She didnt need to have hundreds of thousands of dollars stashed away, either.
She could get started with a minimum investment of just $500.
Its a pretty low barrier to entry in terms of the amount of money you need, Smith says.
I invested a couple grand, and Ive been really pleased with the results.
How to Get Started
Getting started is pretty easy.
VisitFundrises website, drop your email address and click Get Started.
Choose an investment plan.
We like that the Starter Plan allows you to start investing with only $500.
Finish the sign-up process.
Keeping It Rolling
A busy person, Smith likes the simplicity of the online dashboard.
It shows your earnings to date, she explains.
It tells you when your next dividend is.
It shows you the breakdown of where your money is invested.
Any money she makes from Fundrise just gets rolled right back into real estate.
That way, I can ensure it keeps going.
I dont have to actively put more money in it unless I want to.
Mike Brassfield ([email protected]) is a senior writer at The Penny Hoarder.
He likes real estate.
Probably not as good as youd like.
It always seems like an uphill battle to build (and keep) a decent amount in savings.
But what if your car breaks down, or you have a sudden medical bill?
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