YOUNG INVESTOR: Should I Bother Researching Now??
Hello everyone, my name is john and i am 17, and i hope to be involved in real estate full time as a career. I actually, own seven acres of land in ME which will hopefully have a cabin on it this summer. The road has year round trash, plowing, as well as elec. I also have a few hundred shares of stocks as well. Personally, I dont trust the stock market(even with my minimal knowledge of how it works) so im not going to invest in stocks. I want to go to college, but with a solid B average, colleges arent banging down the doors to get me into their schools.
Frankly, i love the idea of self employment and live by the famous Office Space quote "human beings were not meant to spend their days in tiny cubicles staring at computer screens all day." I refuse to work for a major company like that, putting money in someone elses bank account.
One concern i have is that it seems like all of the people involved in this website who actively invest didnt start until they were around 40 or so(just a guestimate) or after they had horrific financial problems. Call me strange, but i want to do this as a career.
Basically what i want to know is what you people think of someone as young as i am investing in real estate at such a young age.
Also, what classes do you think i should take in college that would help out in the real estate world?
Hey youngin...
I started working at 14!! Professionally working full time doing computer support for a dentist and real estate appraisal company.. At 20 I owned my own store, small company, and office bldg. I first got interested and active in real estate around 18 myself..
Youth is NO problem nor hurdle..
But I did for many years have a personal character trait in which I grew out my mustache and goatee (I didn't look like a kid) and I always projected being much older than I was, I couldn't stand anyone to know my real age, I didn't share it, and people ASSUMED from what they knew of me and knowledge/experience/attitude that I was much older than I actually was, and I loved this perception by others..
You probably have the same feelings that I did, and that is people look down on young ones with the attitude a kid can't do that or doesn't know more than me, etc.. So you might find it in your best interest to dress the part, and act older and more mature than the normal average person your age..
My two cents, shoot me a msg if ya want to chat or have questions..
Chris,
P.S. I'm still in my twenties now..
You are definitly in the right mind set. I started researching when I was 16. I am 20 now and really trying hard to get into the business full time. I don't want to tell you to get a job first but make sure you have something to fall back on. That also doesn't consume all of your time. You are obviously ambigous and intelligent so use that to your advantage. Don't buy 20k dollars worth of courses and classes, go to the library and read everything on this site that you can. If you do invest in learning material make sure it is Robert Kiyosaki and his books. Good luck to you and whatever you do when you get discouraged (you will trust me) keep going you'll get there.
Jim
Of course your should start researching now. I am 19, it has literally taken me from the beginning of this year to feel comfortable with the idea of buying real estate. By that I mean that I always knew it was a great way to build wealth, buy making offers made me nervous enough to want to throw up.
Either way, its probably going to take at least 3 months to start finding deals that will work CREI Style. And you should know your market anyway and that just takes time and looking at deal after deal so you will know what might be a good deal. At first everything looked like a bad deal to me. Now I see good deals from time to time.
Havent bought anything yet but I am making an offer on a 13plex that should cash flow 1000/month profit. Asking price is 450, im going to try to offer 400 as is. I have 800 dollars in my bank account and if this offer gets accepted I will have to raise 100K in 15 days.
Talk about big goals.
Its either do this or work 9-5 40hrs a week for 40 years. I have been out of school for a year and a half, I already dont like working.
-Chris
I'm 1 year out of college and have 24 units.
A friend nearby (TCI username sisayako) is 23 and has flipped one house netting (after taxes) around $35K.
I know others who have 7 figure net worths who are in their twenties.
Moments ago I got an email from a guy with 30 or so units who started when he was 36. He said "I wish I would have started when I was 27". I've heard that time and time again.
Personlly, I wish I would have started while I was in college so that I could have started buying properties with student loans.
Much of what you do will be on the phone and with paper work anyways. Now is the perfect time to learn how to invest CREATIVLY without money or credit. Play you're cards right and you'll be retired by the time you're 25 or 30....if not earlier.
Good luck and welcome to the wonderful world of REI.
I'm 18 and also getting into it full-time. What I would suggest for you is to build credit ASAP. Get a credit card, whatever. Trust me that is my biggets holdback right now is having no credit. No credit is worse than bad credit. Yes there are creative ways to do it, but those either require equity in other properties(your benefit) or cash in the bank. I'm also lacking those. Start now, read everything, read here, read Rich Dad Poor Dad(good motivation, sounds like it'd hit home with you too). Read everything you can, and network as much as possible. Keep us updated.
Chase
You kids have the right attitude and the right mind set and I’m proud to be a part of the same forum with the younger gen. I’m just getting started myself and I’m 46 years young and I know absolutely nothing about REI but I’m here. I guess what I’m trying to say is you’re never to young or to old to start thinking in your future.
RealEstate_Tycoon03, your in the right track, if this is what you want to do, then reach for that star and don’t wait till you’re my age like I did.
Read what these people have to say and measure what you do, you’ll be o.k. You’ve already started right by belonging to this site.
Good luck Gonzo (I feel so old)
Read as much as you can. I am in my early 40's . I wish I would have started years ago in real estate. I have always had good credit, invested my money in other things, doing OK. Work in my own busines and work part-time at a fortune 500 company. Wish I would have diversified in real estate sooner. I didn't have the mindset for it at your age. Listen, start as soon as you can, but first get an understaning of it. I believe it's true, you will be well on your way in your 20's. I really take my hat off to you and the other young people who posted to your message. I have been encouraging the young people that work at the company that I work at and tell them when they purchase their first home, by a twinplex, a fourplex to get a jump start on real estate. I am soo excited for you. Go for the gusto, you are not TOO YOUNG!
Now I feel so old....only 26 .....LOL.!!!!
It is so nice to know that someone in my age range is making this work for them...that light a fire under me...MOTIVATES me to get moving...
Thanks guys!!!!
Southernbg
hey dudes
i'm turning 22 soon and i'm really jus reading all i can about this real estate stuff... i think i have the basic jees of it but i'm really lacking in jus general knowledge and well big question to me is: where do i get the forms???
i was realy hoping maybe one of you guys from GA or NC would help mentor me. i'm comin from SC... dunno.. maybe you guys would be willing to help out. PM me or email me plz, i'd be glad to do some birddoggin and wat not for yaz and maybe with every deal i do til i get out on myown, maybe we'd split it... ionno but let me know.
[addsig]
hi all you young adults
im in florida just starting myself iv been in business for myself this past 20 years but i still was working for the man sort of speak. im older now and dont want to work as hard anymore. and the more i read this forum the younger i feel i too wish i started 20 years ago but we are here now and lets do-it best of luck
roberttissy
Bravo, I applaud all the young people for developing their knowledge of real estate.
There's a famous saying in which us older folks (I'm 37 yrs old) always say. "If I can only go back to 17 and know what I know now"!
You guys/gals don't have to! I think it's fantastic!
Beau
class of 1984
(man that sounds old )
If 37 is old... then I'm heading for dinosaur! I'm 38 and a single mom tired of the double duty to live check to check. Got my R.E. license and am on my way. The biggest hurdle is the confidence to sound and be knowledgeable when making creative offers to home owners. I get such a kick out of this site and the support and encouragement from all! My hats of to all TCI members we are the new generation of wealth builders! look out here we come, seasoned or not
me,
Another area where credit is due. Single moms. I was raised by one, she worked 3 jobs, went to school and had to take care of 3 uncooperative kids, me being the most uncooperative.
My hat's off to you. You deserve it and more.
Ole man Beau
RealEstate_Tycoon03 Love the nic. If you start now and build up you will be a tycoon later on. I am 26 just getting my feet wet in REI. I have just started getting a few leads in my area and contacting investors that may be interested in them. You are never too young. I wish like so many that have posted before that I would have started sooner.... Ah but such is life. Better late than never. Good luck and keep us posted!
Carpe Diem,
Veronica
I'm 20 yrs old and I started reading Robert Kiyosaki when I was 16 years old. I now have 8 units and I have bought 7 of those within the last 5 months and all 8 of them within the last ten months. So my advice is to read read read and then you will get to a certain point where the ball will just start rolling. Good Luck