Getting Started in Real Estate Investing: Teens & Early Twenties
- Read, Read and Read Read as much as you can. Not only will you learn valuable information on how to negotiate or draw up deals, you’ll also begin to build your REI lexicon. - Make Phone Calls A great way to start using your new REI knowledge is to practice calling ads. You can practice asking your questions and finding the numbers you need to evaluate a deal without having the pressure of face to face communication. - Challenge Yourself Make sure you are always pushing your comfort level. If you are getting comfortable making calls, try door knocking. - Networking Start networking. Attend local REI meetings, and begin to build your team. Having all your team members in place will make you more confident in being able to facilitate a Real Estate transaction. Get comfortable telling people what you are doing. - Be, Do Don’t talk in future tense. Be a Real Estate Investor; don’t plan on being one in the future. Take action, make calls, find deals, and make offers. You’ll learn more doing than you ever will reading books or forums. Communication I’ve already touched on speech but communication goes far past how you talk. We are in the age of technology and we communicate in person, on the phone and online. What does your voicemail message say? I’m all for having a voicemail message that makes your friends laugh, but not if it is a number you give out for REI. What is your email address? I would recommend using something like a variation of your name for your REI endeavors. Example: dmonsef@hotmail.com or darius@invalesco.com if you have an appropriate domain name. drinkdrankdrunk2003@hotmail.com is not an appropriate email to use for REI!! Be aware of what your email address is saying to your RE associates. How do you organize your thoughts in email / online? Do yOU LiKe to AltERnate fOnt tYpes? Do u use correct grammar 4 your audience? Every word program has a grammar and spell checker. Use it. If there is a final thing I can stress it is find someone to learn from. It’s great to find people your own age to use as a support group, but there is nothing more valuable than someone who has already made your mistakes for you.
Comments(0)
Good going Darius! I just started REI in my mid-thirties and I am always trying to encourage younger folks into buying rental properties. One of our (my wife and I) goals is to teach our children all we know and give them experience in property management, so that when they are 20, they too will have your confidence and our know-how.
Good advice for this young beginner. So often I feel I have to know all the ins and outs of REI before I start something. This is most likely do to fear of failing, however your article has changed by perspective a little to just start something and learn as I go.
This article is exactly what I needed to read to give me confidence to succeed in this business. I am a 24 yrs old investor even though I have done anything but read. I feel like I can go out tommorow and make a few offers. Good advice is hard to come by, but Great advice is timeless! Thanks for you sharing.
Good article! I started selling RE when I was 18 and few people had a problem with my age. The verbal communication is extremely important. I spoke with most people on the phone before in person. Once they have an initial impression from the phone and confidence in you, they don't care how old you are.
Great Article. Alot of people need this type of advice even older investors starting out. I have seen many young RE Investors at my local club meetings that would bennefit from this article.