A recent article by Deggie Dragon explored the major excuses for why many do not invest.  For every excuse for not investing listed in the article, there is a reason for buying real estate.  That is particularly true for reason number 2, "I don't have have the extra money to save," of her useful piece, "5 Excuses the Precent Your from Investing."

real estate investing  Long story short: If you have the money to pay rent, you have the money to invest in real estate.

Many are out there to help you switch from being a renter to an owner.  There are many options for financing the purchase of real estate: government agencies such as the Federal Housing Administration will guarantee mortgages with low down payments.  That allows home buyers to get in with virtually no money down, perhaps even less than a security deposit for an apartment.

In addition to the Federal Housing Administration, many locales have programs for first time home buyers and those with incomes under a certain level.  In Chicago and other areas in the state, the Illinois Housing Development Authority has programs to facilitate the purchase of a home.  These include assistance with down payments and other needs for buying a home.

There is also private mortgage financing.  This can be more expensive than loans from traditional lenders such as banks, credit unions, and mortgage brokers.  However, the financial benefits to owning a home can make a private mortgage financially viable.

These include the tax write off for the mortgage interest.  If the private mortgage interest is higher, the amount is lessened by a higher tax break.  You can also write off part of your home as a business expense if it is used just for that purpose.  The biggest financial gain of all from owning rather than renting is that you are paying for your own home and building equity, rather than giving the money to someone else without any return.

The psychological benefits are also important.  

You are finally part of the program in investing.  You are no longer just a tenant, you are a renter.  From Economics 101, you have made the transition from being a rent payer to being a rent collector.  That puts you on the path towards developing equity and creating your own investment portfolio of rental proprieties.

From owning your first home, it will be much easier to buy additional units.  You will know what lenders want from you in order to approve a mortgage.  If you went the private mortgage route for your first property and proved to be a good customer, it is likely the terms for the next one will be more generous.  There is nothing a lender likes more than borrower who pays back the mortgage on time.

Whenever you have the money, you should invest in real estate.  

Over the last two hundred years, about 90% of the millionaires around the world have been produced by real estate investing.  To join that group, you have to quit paying rent and buy your first property.  There are plenty of groups out there to help in this, both in the public and private sector.  All that is necessary is for you to leave behind the excuses for not investing in real estate and move forward to profiting from gains from the properties that you own.