What are some things you wish you did before you started in real estate

Dayton, Ohio
Starting Out
2yFollow

What are some things you wish you did before you started in real estate

Kyle Deboer
Member since 2024 · 3 posts · 49 votes

I am interested in real estate but I am too young to get any mortgage from a bank. Are there things you wish you did during the stage of your life that I am? I want to get started as soon as possible with buying properties and renting them out but it just seems like I'm too young and it's too early. Are there ways around this?

0Reply
53 views

5 Replies

Jump to latestLatest
  • Chris SeveneyBusiness Member
    Moderator
    Investor · VA · Member since 2015 · 21k+ posts · 19k+ votes
    2y

    @Kyle Deboer

    Here are five (could probably list 100)

    1. Understand true costs to maintain a home

    2. Being more handy around a property to do some of the minor repairs yourself

    3. Understand renovation and how to write a scope of work

    4. How to vet contractors and negotiate with them

    5. How to truly find off market deals

    7e investments53 Reviews
    WebsiteView Page
    0Reply
  • Gregory SchwartzBusiness Member
    Rental Property Investor · College Station, TX · Member since 2016 · 1k+ posts · 1k+ votes
    2y

    Get a job in the industry. It will be the fastest way to go from "too young" to "that kid whos crushing it"

    [email protected]443-812-0357
    Schwartz Realty Group5118 Reviews
    WebsiteView Page
    0Reply
  • Jonathan GreeneBusiness Member
    Real Estate Consultant · Madison, NJ · Member since 2016 · 6k+ posts · 7k+ votes
    2y

    Both of those slices of advice above are great. I would add to get and keep your finances very organized. Know what you make and how you make it. Read books like Set for Life by @Scott Trench and Start with Strategy by @Dave Meyer to get the mindset of starting on the table before going too deep into an asset class or something like flipping. Listen to podcasts like the BP Rookie Podcast because they interview all newer people to the business so almost everything will be relevant for you. Lastly, go to real estate investor meetups in your area. If you don't drive yet, bring your parent(s). It's a great way to learn in real life and off the screen.

    [email protected]Podcast Guest on Show BiggerPockets Daily 667: 5 Amazing Benefits Multifamily Investments Offer (That Single Family Homes Don’t) by Gino Barbaro
    Zen and the Art of Real Estate Investing59 Reviews
    WebsiteView Page
    0Reply
  • Michael DiossaPro Member
    Investor · RI · Member since 2023 · 192 posts · 163 votes
    2y
    Quote from @Gregory Schwartz:

    Get a job in the industry. It will be the fastest way to go from "too young" to "that kid whos crushing it"


     Very true!

    0Reply
  • Alan AsriantsBusiness Member
    Real Estate Agent · Philadelphia, PA · Member since 2019 · 1k+ posts · 1k+ votes
    2y

    Understand how a Home works. 

    Basic plumbing, electrical, HVAC knowledge will go a long way. Also understanding how things are put together, how siding works, gutters, etc (basically as many aspects of the home as possible)

    Having this knowledge will also help you from getting burned by contractors telling you things just so they can save time and money and deliver a crappy service. 

    Study and read your local lease template

    Read, read, read.

    Watch youtube videos online of some basic building and construction. You won't learn everything and you will still have 1M questions, but this will give you a base.

    [email protected]267-767-0111
    Alan Asriants - New Century Real Estate 592 Reviews
    View Page
    0Reply
Join the conversationCreate a free account to reply, vote on answers and follow this thread.
Log InJoin for Free