What would you tell your 18 year old about Real Estate Investing?
I'm curious about something and I think it can provide some insight to new investors also. Basically if you had an 18 year old who came to you today and expressed interest in RE investing what would you tell them? This doesn't pertain to me since I don't have any kids.
Would you say move on to something better (doctor or lawyers or such)? Go to college and get a degree in RE? Get a degree in a somewhat related field such as marketing or finance? Would you tell them to house hack while in college? Would you let them PM in a house you bought near their school? Lend them money to start buying while in college? Partner with them?
Skip college and start working in RE? Construction, RE sales, HVAC repair, plumbing, or electrician?
Would you tell them to do flips? Buy and holds? Invest for appreciation? Forced appreciation? New construction? Wholesale? A combination?
Would you tell them to take on debt?
Would you tell them to wait until it is a better time in the RE cycle to buy?
Would you tell them to invest in a certain area? Your area? Somewhere else?
Would you tell them to do multi-family? Single family? Duplexes?
Please share your thoughts on this.
Thanks!