Any advise for an aspiring 19yr old

[Gino Cerrone]

Hello! I love in the suburbs of Chicago and go to a university nearby. I still live at home as of right now. I have been working in a local bank for the past 3 or so years in the commercial lending department to get an understanding of financial analysis and gain knowledge from current investors. Last summer I interned for a commercial real estate aquisistion, management, and development firm in the city of Chicago. I learned a lot of about seeking out potential properties and financial analysis. I also learned how to use costar as I used it on a daily basis. I recently just passed my real estate broker exam and are seeking a sponsoring broker. I am writing on this page to see what you guys think I should do next. I currently have an internship for this upcoming summer with two private investors. What do you guys recommend I do to help further my knowledge and/or path of being a real estate investor. 

[Ryan Porter]

Heck yeah! Congratulations on getting started early in life. I know a lot of us wish we had. I would begin my investor path by attending the local investor meetings. Fill up your CRM with contacts. Local hard money lenders, wholesalers, lenders, all the people. Then look for a slam dunk flip. Something easy, like paint, floors, maybe a roof. Use the bigger pockets flip calculators. Make sure it's a winner, and then do it. Use a partner if you have to. If you have a slam dunk deal, you can usually find someone to partner with. There may even be a hard money lender in your area who works with new investors. Once you finish the flip, you can brrr it or sell it. All the while, build your buyer list in your CRM and start putting deals together. Use your real estate license to help people find flips, then help them sell their flips. 

[John Warren]

@Gino Cerrone congratulations on really getting after it! You have a really cool skill set since you have spent time on platforms like costar, where many of the investors on here have never even looked at that platform once. Do you want to do commercial investing? Small residential? 

You pretty much can't go wrong doing a house hack when the time is right, so I would try to make that a part of your journey early on here before life gets in the way (family, kids, obligations, etc). 

I would also think through what kind of brokerage you want to do. If you want to do residential, that is a very different area than commercial for instance. Commercial could actually be really interesting for you as you could join one of the established shops to get on a team and start earning right away. 

[Nathan Gesner]

Quote from @Gino Cerrone:

Focus on finding employment. Earn as much as you can, save as much as you can. Keep educating yourself. By the time you have money to invest, you will be ready.

If you get a job in property management, you'll quickly learn how to manage investments well (something most landlords never learn) and you'll see what makes a good investment. All while earning a decent paycheck.

[Gino Cerrone]

Quote from @John Warren:

@Gino Cerrone congratulations on really getting after it! You have a really cool skill set since you have spent time on platforms like costar, where many of the investors on here have never even looked at that platform once. Do you want to do commercial investing? Small residential? 

You pretty much can't go wrong doing a house hack when the time is right, so I would try to make that a part of your journey early on here before life gets in the way (family, kids, obligations, etc). 

I would also think through what kind of brokerage you want to do. If you want to do residential, that is a very different area than commercial for instance. Commercial could actually be really interesting for you as you could join one of the established shops to get on a team and start earning right away. 

 Thank you, and yes I am trying to get into commercial. As of right now I’m trying to see if I can get into Marcus but if that doesn’t work out I’ll look for another commercial brokerage.

[Gino Cerrone]

Quote from @Ryan Porter:

Heck yeah! Congratulations on getting started early in life. I know a lot of us wish we had. I would begin my investor path by attending the local investor meetings. Fill up your CRM with contacts. Local hard money lenders, wholesalers, lenders, all the people. Then look for a slam dunk flip. Something easy, like paint, floors, maybe a roof. Use the bigger pockets flip calculators. Make sure it's a winner, and then do it. Use a partner if you have to. If you have a slam dunk deal, you can usually find someone to partner with. There may even be a hard money lender in your area who works with new investors. Once you finish the flip, you can brrr it or sell it. All the while, build your buyer list in your CRM and start putting deals together. Use your real estate license to help people find flips, then help them sell their flips. 

 Sounds good, my only question would be how should I try to find local investment events as I’ve never heard or been aware of any.

[Gino Cerrone]

Quote from @Nathan Gesner:

Quote from @Gino Cerrone:

Focus on finding employment. Earn as much as you can, save as much as you can. Keep educating yourself. By the time you have money to invest, you will be ready.

If you get a job in property management, you'll quickly learn how to manage investments well (something most landlords never learn) and you'll see what makes a good investment. All while earning a decent paycheck.

 That’s the goal with trying to find a brokerage. I never thought about joint a management company though. I’ll definitely look into it, thank you!

[Michael K Gallagher]

@Gino Cerrone big congrats on getting after it like that, I'd say you are way ahead of most people your age and certainly ahead of where I was at that time.  You seem well on the way to a successful brokerage career and still living at home with low or no bills is the way to start that scaleable but commission only life.  house hacking has been mentioned here and I'd 1up for that as well, for sure the best way to get your first property, but in generally the path you are on into the brokerage and scaleable income is the way to go and what I wished I did right out of the gate.  

[Gino Cerrone]

Quote from @Michael K Gallagher:

@Gino Cerrone big congrats on getting after it like that, I'd say you are way ahead of most people your age and certainly ahead of where I was at that time.  You seem well on the way to a successful brokerage career and still living at home with low or no bills is the way to start that scaleable but commission only life.  house hacking has been mentioned here and I'd 1up for that as well, for sure the best way to get your first property, but in generally the path you are on into the brokerage and scaleable income is the way to go and what I wished I did right out of the gate.  

 Thank you, I’ve been contemplating trying to get into house hacking. The only problem is I need to really save my money because I might be able to qualify for an fha but idk if I’ll be able to afford the costs of maintenance and such yet.

[Gino Cerrone]

Quote from @Michael K Gallagher:

@Gino Cerrone big congrats on getting after it like that, I'd say you are way ahead of most people your age and certainly ahead of where I was at that time.  You seem well on the way to a successful brokerage career and still living at home with low or no bills is the way to start that scaleable but commission only life.  house hacking has been mentioned here and I'd 1up for that as well, for sure the best way to get your first property, but in generally the path you are on into the brokerage and scaleable income is the way to go and what I wished I did right out of the gate.  

 Thank you, I’ve been contemplating trying to get into house hacking. The only problem is I need to really save my money because I might be able to qualify for an fha but idk if I’ll be able to afford the costs of maintenance and such yet.

[Jacopo Iasiello]

Hi Gino, 

It sounds like you've already taken some significant steps towards building a career in real estate investing, and you have a strong foundation with your education and work experience. Here are some recommendations to further advance your knowledge and path as a real estate investor:

1. Find a Sponsoring Broker: Since you've passed your real estate broker exam, your next step is to find a sponsoring broker to activate your license. Look for a broker who specializes in commercial real estate or investment properties, as this will align well with your background and interests. A sponsoring broker can provide mentorship, training, and support as you begin your career as a real estate agent.
2. Continue Learning and Networking: Real estate is a dynamic and ever-evolving industry, so it's crucial to continue learning and staying updated on market trends, regulations, and investment strategies. Attend real estate seminars, workshops, and networking events to expand your knowledge and connect with industry professionals. Consider joining local real estate investment groups or associations to further immerse yourself in the real estate community.
3. Gain Hands-on Experience: Your internship with private investors is an excellent opportunity to gain hands-on experience in real estate investing. Take advantage of this opportunity to learn from experienced investors, participate in property acquisitions, financial analysis, due diligence, and asset management activities. Ask questions, seek feedback, and actively contribute to the projects you're involved in.
4. Specialize and Focus: Consider specializing in a specific niche within real estate investing that aligns with your interests and strengths. Whether it's commercial real estate, multifamily properties, industrial properties, or development projects, focusing on a specific niche can help you become an expert in that area and differentiate yourself in the market.
5. Build Your Network: Networking is essential in the real estate industry, so continue to build relationships with investors, developers, lenders, brokers, and other professionals. Networking can open doors to potential investment opportunities, partnerships, and mentorship opportunities. Stay active on professional networking platforms like LinkedIn and attend industry events to expand your network.
6. Stay Financially Savvy: Your background in commercial lending and financial analysis is a valuable asset in real estate investing. Continue to hone your financial skills and deepen your understanding of real estate finance, underwriting, and investment analysis. Stay updated on market dynamics, interest rates, and economic indicators that can impact real estate investments.
7. Set Goals and Take Action: Define your short-term and long-term goals as a real estate investor and create a plan to achieve them. Whether it's acquiring your first investment property, building a portfolio, or starting your own real estate investment firm, set clear objectives and take consistent action towards realizing your goals.

I hope it helps! :)

[Wale Lawal]

@Gino Cerrone

Establishing connections with business leaders, looking for guidance from seasoned real estate investors, pursuing ongoing education, gaining practical experience, keeping up with market developments, and establishing well-defined objectives are all critical for real estate investors. Become a member of associations, go to industry events, and network with other professionals on LinkedIn and other platforms. Seek guidance from seasoned developers or real estate investors to obtain insightful advice and encouragement. Increasing your skill and competitiveness can be achieved by pursuing further certifications or taking courses in real estate finance, investment analysis, or property management.

Make the most of internship opportunities to obtain real estate investment expertise on the ground. By reading reliable blogs, attending webinars or seminars, and subscribing to industry magazines, you may stay up to date on market trends, economic data, and regulatory developments. As a real estate investor, setting short- and long-term objectives can help you stay focused and make better decisions. You will be well-positioned to be successful as a real estate investor if you keep expanding your knowledge, abilities, and network.

Good luck!

[Gino Cerrone]

Quote from @Jacopo Iasiello:

Hi Gino, 

It sounds like you've already taken some significant steps towards building a career in real estate investing, and you have a strong foundation with your education and work experience. Here are some recommendations to further advance your knowledge and path as a real estate investor:

1. Find a Sponsoring Broker: Since you've passed your real estate broker exam, your next step is to find a sponsoring broker to activate your license. Look for a broker who specializes in commercial real estate or investment properties, as this will align well with your background and interests. A sponsoring broker can provide mentorship, training, and support as you begin your career as a real estate agent.
2. Continue Learning and Networking: Real estate is a dynamic and ever-evolving industry, so it's crucial to continue learning and staying updated on market trends, regulations, and investment strategies. Attend real estate seminars, workshops, and networking events to expand your knowledge and connect with industry professionals. Consider joining local real estate investment groups or associations to further immerse yourself in the real estate community.
3. Gain Hands-on Experience: Your internship with private investors is an excellent opportunity to gain hands-on experience in real estate investing. Take advantage of this opportunity to learn from experienced investors, participate in property acquisitions, financial analysis, due diligence, and asset management activities. Ask questions, seek feedback, and actively contribute to the projects you're involved in.
4. Specialize and Focus: Consider specializing in a specific niche within real estate investing that aligns with your interests and strengths. Whether it's commercial real estate, multifamily properties, industrial properties, or development projects, focusing on a specific niche can help you become an expert in that area and differentiate yourself in the market.
5. Build Your Network: Networking is essential in the real estate industry, so continue to build relationships with investors, developers, lenders, brokers, and other professionals. Networking can open doors to potential investment opportunities, partnerships, and mentorship opportunities. Stay active on professional networking platforms like LinkedIn and attend industry events to expand your network.
6. Stay Financially Savvy: Your background in commercial lending and financial analysis is a valuable asset in real estate investing. Continue to hone your financial skills and deepen your understanding of real estate finance, underwriting, and investment analysis. Stay updated on market dynamics, interest rates, and economic indicators that can impact real estate investments.
7. Set Goals and Take Action: Define your short-term and long-term goals as a real estate investor and create a plan to achieve them. Whether it's acquiring your first investment property, building a portfolio, or starting your own real estate investment firm, set clear objectives and take consistent action towards realizing your goals.

I hope it helps! :)

 Thank you so much, it means a lot!

[Gino Cerrone]

Quote from @Wale Lawal:

@Gino Cerrone

Establishing connections with business leaders, looking for guidance from seasoned real estate investors, pursuing ongoing education, gaining practical experience, keeping up with market developments, and establishing well-defined objectives are all critical for real estate investors. Become a member of associations, go to industry events, and network with other professionals on LinkedIn and other platforms. Seek guidance from seasoned developers or real estate investors to obtain insightful advice and encouragement. Increasing your skill and competitiveness can be achieved by pursuing further certifications or taking courses in real estate finance, investment analysis, or property management.

Make the most of internship opportunities to obtain real estate investment expertise on the ground. By reading reliable blogs, attending webinars or seminars, and subscribing to industry magazines, you may stay up to date on market trends, economic data, and regulatory developments. As a real estate investor, setting short- and long-term objectives can help you stay focused and make better decisions. You will be well-positioned to be successful as a real estate investor if you keep expanding your knowledge, abilities, and network.

Good luck!

Sounds good, I’m going to definitely try to work on networking as much as I can.