There’re many things on the internet today fighting for our attention. Of all these things, the one that easily grabs people’s attention is how to be financially stable. To achieve this, most people have begun investing in real estate.
Sadly, there are still many things not clear with investing in real estate, especially with the emergence of NFTs in the market. To help us shed light on the grey areas is Ryan Hoggan.
Ryan Hoggan is an expert investor in real estate, with a special focus on the convergence of NFTs and real estate. In this interview, he speaks about NFTs and real estate investment.
People say real estate is one of the best places to invest. Why do you think this is so?
Yes, real estate is one of the best places to invest in. Consider that housing is one of the necessities of life and that real estate is what brings this to the table, and you will understand why it’s lucrative.
Aside from this, the propensity for real estate to appreciate over the years is amazing. Though it requires huge funds, now that some aspects of NFTs and real estate have merged, it is possible to also cut down on the funds by representing assets with NFTs.
Real estate is lucrative as well as volatile. What do you have to say about the volatility of real estate?
I do not think there is anything today with a good side without a bad side. Real estate is lucrative if you invest well and leverage opportunities in real-time. However, it can also be very disadvantageous if you follow the wrong steps or are slow with grabbing opportunities.
For instance, NFTs are now being used to represent assets in real estate, and mining NFTS is free.
For those who understand this and quickly grab the opportunity, investing in real estate becomes lucrative for them. For those, who sit and do nothing but wait for opportunities to fall on their laps, we already know how their investment in real estate will end up.
So, yes, real estate is volatile, but you can mitigate your exposure to the volatility depending on the opportunities that you grab.
How can one minimize the risk of investing in real estate?
One of the best and long-standing ways to minimize risk in real estate investment is to spread your investment. I don’t advise putting your eggs in one basket, so as much as possible, spread it.
Doing this can come in different ways, especially when you incorporate NFTs in your real estate investment. You also need information in real-time, so you can pre-empt obvious risks and avoid them.
What is your advice for someone who wants to go into real estate, and do you think there is still room left for starters?
My advice is simple; START! That’s the first step, and there’s enough room to accommodate as many people who may want to go into real estate. Nonetheless, when starting, ensure you meet with the right people so that they can advise you on the opportunities to take early.
The best thing is to have a good head start while also minimizing the risk your investment is exposed to.
Are there specific things to look out for in real estate?
Yes, there are specific things to look out for in real estate. For instance, you must always be on the lookout for information and the market’s direction.
I understand that real estate is lucrative, but it is also as volatile. This is why you must also be well informed so as to act fast and mitigate risk.
Looking out for information will also help you know about opportunities like NFTs that you can leverage at an early stage. You can check these collections on Rarible for some of the coolest NFTs from different artists.