Newbie 20 year old Looking for RE Career Guidence/Help.

Newbie 20 year old Looking for RE Career Guidence/Help.

New to Real Estate · San Francisco, CA · Member since 2021 · 4 posts · 3 votes

I will try to make this simple and concise. Im a young female who comes from a sales and customer service background (restaurants 4yrs experience  and car sales 1 yr experience). I just turned 20 and  recently moved back to SF for the environment and opportunity ( its also where I grew up and where I truly feel at home). I made sure to get my RE license before I moved because its a commission job and somewhat like car sales which I did very well in. I had enough saved to be ok if any emergencies were to happen or If I got too busy and couldn't make money. I knew real estate wasnt gonna be an immediate cash flow for new agents like myself.  

My interests are finance, real estate investing, learning how to build wealth and money management. My future goal is to break into the RE development space.  I love solving problems and learning as much as possible so I can be confident when I get the opportunity to invest in my first property. And I really dont wanna work till im 60. My why is to have the option to enjoy my life free of financial restrictions. 

I expected Real estate to be a long term game. And I know that I havent put as much effort as I can be. I just feel like there is other ways to make money faster than selling homes ( they say you dont really make money until your third year in). Im not in love with the idea of being a real estate agent but I decided it would be good to learn how such transactions take place. I've started networking and reaching out to other investor groups via meet up. 

My question is do you think as a 20 year old that my time is worth more trying to sell homes or maybe there is another way I can earn my down payment for a home and have some steady income? Im very dedicated and a hard worker, I just feel like being an agent isnt capturing my attention as much and there for ive been lacking. Maybe im in a slump or maybe im not properly motivated, but I just cant help but feel there are more proactive ways to start investing and actually get some real world experience in the investing space. 

My other question is I work for a company based in San Jose who doesn't do a lot of deals in the city ( its a long story). I feel like ive made a bad decision with my brokerage. I also feel like getting deals in SF for a new agent with no prior experience is gonna be nearly impossible. Ive also looked into wholesaling but being in the San Francisco Bay Area wholesailing is high unlikely. 

What should I do? Keep being consistent and trying to break into the SF market and SJ markets? Or should I look for other ways to make money / start getting real world investing experience? I would love to find a mentor. I have all the time in the world and can be an asset to someone who needs to delegate tasks in exchange for learning opportunities.  My funds from car sales are running a little low; enough to keep me up at night writing this thread. I am truly lost at what I should do.  Im also thinking of going back to school and getting a  degree in finance but that's the last thing on my mind at the moment.

Thanks for reading this far. Please help with any advice you might have. 🙏

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Nathan GesnerBusiness Member
Moderator
Real Estate Broker · Cody, WY · Member since 2010 · 28k+ posts · 41k+ votes
4y

You've joined a difficult market. About 85% of real estate agents quit within two years because it's hard to build a business and develop steady income. On top of that, your market is probably saturated with sales agents because the market was really strong the last 5+ years and everyone's getting their license to make some "easy" commission.

You typically need two years of experience before a bank will lend to you. Going from car sales to real estate may not be a similar enough job to qualify. On top of that, you're probably not making much this first year. It will be hard to qualify for anything.

You could consider a job in Property Management. I own a PM company, and I handle sales for my investors. A PM job will provide steady income, quickly educate you on how to manage rentals, and present you with occasional opportunities to sell for boosts to your income.

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  • Nathan GesnerBusiness Member
    Moderator
    Real Estate Broker · Cody, WY · Member since 2010 · 28k+ posts · 41k+ votes
    4y

    You've joined a difficult market. About 85% of real estate agents quit within two years because it's hard to build a business and develop steady income. On top of that, your market is probably saturated with sales agents because the market was really strong the last 5+ years and everyone's getting their license to make some "easy" commission.

    You typically need two years of experience before a bank will lend to you. Going from car sales to real estate may not be a similar enough job to qualify. On top of that, you're probably not making much this first year. It will be hard to qualify for anything.

    You could consider a job in Property Management. I own a PM company, and I handle sales for my investors. A PM job will provide steady income, quickly educate you on how to manage rentals, and present you with occasional opportunities to sell for boosts to your income.

    The DIY Landlord Book4.7248 Reviews
  • Patrick DruryBusiness Member
    Real Estate Agent · Columbus, OH & Cleveland OH · Member since 2021 · 1k+ posts · 2k+ votes
    4y

    @Catalina Bovill
    If you are a full-time agent that works with investors, it's worth it in my opinion. Maybe you should look at joining a new brokerage if that's the problem. Also, how long have you been an agent? Maybe you should move to a different market to get started with a lower barrier of entry to get started in real estate alongside being an agent or get a w-2 job and look at investing out of state. 

  • New to Real Estate · San Francisco, CA · Member since 2021 · 4 posts · 3 votes
    4y
    Quote from @Patrick Drury:

    @Catalina Bovill
    If you are a full-time agent that works with investors, it's worth it in my opinion. Maybe you should look at joining a new brokerage if that's the problem. Also, how long have you been an agent? Maybe you should move to a different market to get started with a lower barrier of entry to get started in real estate alongside being an agent or get a w-2 job and look at investing out of state. 

    I got my license in May but am just starting to get signed and joining my associations and everything now. My brokerage does give us leads would you recommend I try Selling in San Jose first even though it's far away and I wont Be gaining any exposure within the Sf community. Also I would love to specialize working with investors but would I need a commercial license/ broker ? Do you have any good ideas on how to break into that space besides what I'm already doing (meetup.com RE investing groups)? 

    Also I heard Commercial is really struggling in San Francisco, but maybe that's just commercial leasing of office buildings. I would love to do deals with investors on MFH and SFH. Do you believe my age and lack of expertise would be a red flag for investors? I know thats simple to solve with experience but just wondering on your thoughts.

  • New to Real Estate · San Francisco, CA · Member since 2021 · 4 posts · 3 votes
    4y
  • Lawrence BriggsPro Member
    Investor · Austin, TX · Member since 2020 · 366 posts · 377 votes
    4y

    @Catalina Bovill Congrats for starting at a very early age. I commend you for doing your research. The BP forum has a wealth of information. Wishing you much success! 

  • Investor · Austin, TX · Member since 2021 · 9k+ posts · 5k+ votes
    4y

    Buy as much real estate as you can. Wether you become licensed or not, you’re a numbers Guy. What will you be worth in 10 years if you buy 10 properties with natural appreciation 

  • New to Real Estate · San Francisco, CA · Member since 2021 · 4 posts · 3 votes
    4y
    Quote from @Lawrence Briggs:

    @Catalina Bovill Congrats for starting at a very early age. I commend you for doing your research. The BP forum has a wealth of information. Wishing you much success! 

    Thank you!! 
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