ATTN: Investors 25 or Younger
If you are young and trying to get started in real estate, it can be very difficult. You will find people saying that you are too young or you don't have experience, you are living life too fast. Whatever the excuse may be.... If you are young and trying to get started in real estate, it can be very difficult. You will find people saying that you are too young or you don't have experience, you are living life too fast. Whatever the excuse may be.... the all have one thing in common. They think you will succeed where they have failed. I'm 20 and I am experiencing more success than people twice my age. I had to disregard what they were saying and just go for it. If you are really serious about getting started in this business, you will need the following:
A good loan officer (priceless person to have on your team). A loan officer on your side is as good as having money in the bank.
Second you will need a good agent. I work with the same agent and loan officer on all my deals. In turn, they get me approved or find me deals without me coming to the office. They have even put up the money one of the properties.
If you plan on a partnership, REIT, or another investing organization, you need a good lawyer. Make sure you get a lawyer that has experience organinzing these deals because you can get screwed.
That's my two cents. If anyone has any questions, feel free to send me a message anytime.
Check the beginner forum, I will posting a list of questions for a REI motivational journal. I'd love to add your story. Thanks!
-rdylina
I know you have the motivation to be successful by the number of posts you have done and the questions you ask both privately and on the board.
You are going in the right direction and the first step is getting off the couch, which you have done.
Congratulations. Most people, no matter what their age is, don't make it that far, which is why they fail.
Best of luck
John (LV)
Right on! I'm 19 haven't done my first deal yet(I've got the financing lined up but I am having a hard time finding deals in my market [portland oregon] thinking about moving to an area where I can get in for under 30K [philadelphia] ) but REI is totally the way to go, the earlier you start the earlier you can retire. I also own a business, let me tell you, after running my own business and having a few employees, I respect business owners more and more, anyone who says that business owners don't deserve their fancy cars and phat dividends doesn't know what their talking about (as long as the business owner runs a profitable and socially responsible business, unlike many who burn through their investors cash and show a loss every year (can you say dot-coms from 2-3 years ago!)
The trouble a lot of people have is that they discuss with too many people what they plan to do. And, certainly, when you are young, the peers and the older people will give you all kind of reasons why you will fail, and not reach your goal. They are the "Dream Stealers", they don't do anything "worthwhile", and don't want you to do anything "worthwhile". A lot of jealousy plays a role, the "others" would like to have the guts to do something different, instead of going to the 9-5 job, but they scare themselves to death thinking only of all the reasons why they "will fail", instead of thinking of all the reasons why they will succeed.
The only way to succeed is to prepare yourself thoroughly, have as much knowledge as possible and start doing what you want to do.
And, very important, don't tell others what you plan on doing, don't let them steal your dream; just go step by step and once you are achieving some success (it doesn't come all at once!) people will notice and won't be as negative as when you weren't doing it yet, and incredible but true, they might even encourage you.
Starting something is like being born or dying, you have to do it alone!, by yourself, just you.
In my opinion, this is not only true for the young people, it is true for older people as well. The young might be hearing things like: "You are too young, what do you know about that, get yourself a "real" job, etc", whereas the older people might hear: "You are too old for that, (your life is almost ove- that is what they mean by that), why start something new, just be happy with what you have, that is for the young people, etc"
Really, there is no perfect age for anything.
Just work on making your dream come true!, have faith in God and in yourself!
Ladybug
Amen, sister! - Zach