Getting started young and where do I start with real estate investing? How do I find my mentor?

37 Replies

Im 19 years old in San Antonio, Texas and I want to take on the heart of San Antonio with real estate investing. I have no previous knowledge of the subject but I am more than willing to get educated and put in the time and work to turn this into my living. 

I graduated with a 4.0 in high school but was not interested in pursuing college and finding a job in corporate America. While there is nothing wrong with that, I am obsessed with the realm of real estate and want to completely immerse myself into investing.

My questions are:
How would a beginner, like myself, approach real estate investing with no cash, credit or credibility? What route is my best bet with said circumstances?

How do I find a mentor to guide my way into this new world I have only recently discovered? Whether it be in my area, over the internet, etc.

Also, is there any advice that anyone in this business would give to their younger self if starting at this age?

I know the road isn't easy but I know starting early on and giving 100% of my efforts, the road is doable.

@Account Closed  

Welcome. Best to start with a  foundation of knowledge.

Check out the Start Here page http://www.biggerpockets.com/starthere

Check out BiggerPockets Ultimate Beginner's Guide - A fantastic free book that walks through many of the key topics of real estate investing.

Check out the free BiggerPockets Podcast - A weekly podcast with interviews and a ton of great advice. And you get the benefit of having over 90 past ones to catch up on.

Locate and attend 3 different local REIA club meetings great place to meet people gather resources and info. Here you will meet wholesalers who provide deals and rehabbers.

Two Great reads, I bought both J. Scott The Book on Flipping Houses, The Book on Estimating ReHab Costs http://www.biggerpockets.com/flippingbook

Consider checking out HUD homes for small multi's owner occupied gets first crack.

You might consider Niche or Specialized Housing like student housing. Rents can be 2-4 times more. Remember you don't have to own a property to control it.

Download BP’s newest book here some good due diligence in Chapter 10. Real Estate Rewind Starting over

http://www.biggerpockets.com/files/user/brandonatbp/file/real-estate-rewind-a-biggerpockets-community-book

Good Luck

Paul

Account Closed Thank you for the sound advice !!

I would suggest you follow all of the above advice, especially one from Account Closed 

"Locate and attend 3 different local REIA club meetings great place to meet people gather resources and info. Here you will meet wholesalers who provide deals and rehabbers."

Here you will fin mentors in all "shapes and sizes".  There's nothing better than learning from those that have done it.

@Joe Villeneuve  thank you ! Do these club meetings cost money usually?

Originally posted by @Account Closed :

@Joe Villeneuve  thank you ! Do these club meetings cost money usually?

It depends. My city as two associations. One is $28 for a year membership and then $15 per monthly dinner and you pick up tons of valuable information at these meetings plus a delicious meal is included. The other is $70 per yearly membership and then $15/ monthly meeting OR $25/monthly meeting without membership.

Get some books from the library and start educating yourself on the different areas of REI. Find an area that interests you and thAt will determine what you need to get started. I would also advise finding some job to save up some capital... it takes money to make money for many areas of real estate investing.

@Jade Davis  thank you for the valuable information! I have been seeing that beginners begin small with flips or wholesaling.. What you recommend I look into? I see interest in these two. 

Also, a job is definitely on the forefront of my mind. Would it be wise to find a job in an area that would benefit what I want to do? If so, do you have any recommendations?

I would recommend the same thing everyone else has suggested. I have learned a lot by listening to the podcasts and they are also entertaining. Do you know what type of investing strategy you will persue (buy and hold, wholesale, fix n flip)?

@Account Closed  It depends on  the group.  My group meets 4 times a month.  Two of the meetings are free, the other two are workshops we put on and have fees.  Cost depends on the topic.  Lunch is included.  One of them is a Mastermind session with those investors that are networking at a higher level, meeting with those that are running into problems.

@Daniel Pena  I would like to start with wholesale or fix/flip. Is it possible to look into both or would it be more logical to stick to one? 

@Joe Villeneuve  thank you for the info, I'm sure finding a group/club to meet with is worth the investment if looked into properly. If I am reading correctly, my best bet is to read up and find club meetings best suited to what I am looking to pursue

@Account Closed  new book that is available under the "Learn" tab above. This is a great tool to cut out the fluff and begin to understand the bigger picture. Also take advantage of the multiple podcast available on this website.

How do I find a mentor to guide my way into this new world I have only recently discovered? Whether it be in my area, over the internet, etc.

As most have mentioned above take some time to get online and find where our local REIA's are being held. San Antonio Real Estate Investment Association aka SAREIA gets together the first Tuesday of every month at the Omni hotel. This is a great starting point to get out and find the whos-who in our market. First visit is always free. Over time you should be able to find a mentor/ apprenticeship. 

Also, is there any advice that anyone in this business would give to their younger self if starting at this age?

Knowledge is Power! Age has very little influence when you have taken the time to become a powerful resource of knowledge. Most importantly be pro-active and aggresive with your goals and dreams.

Best of luck Laura, hope to see you around!

Paul

Best of luck Janelle, hope to see you around!*

@Paul James  I appreciate it! I will definitely look into making it to The first meeting of December. 

Thanks to everyone for giving me great advice and encouragement to start my journey! Knowledge is definitely powerful and it will bring a lot to the table for myself and future

Originally posted by @Account Closed :

@Daniel Pena  I would like to start with wholesale or fix/flip. Is it possible to look into both or would it be more logical to stick to one? 

@Joe Villeneuve thank you for the info, I'm sure finding a group/club to meet with is worth the investment if looked into properly. If I am reading correctly, my best bet is to read up and find club meetings best suited to what I am looking to pursue

 Attend as many as you can...then  figure out which ones work best for you.

Hello Janelle,

Lots of great advise on here!  Just thought I'd add my 2 cents, since I'm a beginner like you...take it or leave it.  ;-)

I am actually taking online classes to train in Real Estate Investing right now.  Classes are taught by some of the top Real Estate Investors in the country.  It's actually like an online college.  

Realizing you can glean a whole lot of info yourself, right on this site, I still wanted to mention the option.  For me....it is much better to get the information all in a well organized package.

After completing classes, you have the option of submitting deals through them, or simply working on your own.

With this company, you have online classes, optional LIVE trainings, a mentor, coaches, LOTS of one-on-one support, and much more.  It is well worth it in my opinion!  But I understand that it's not for everyone.

Feel free to message me, or check it out here:  www.MyDebtFreeStory.com

Again, I realize it's not for everyone, but I wanted to let you know it is out there.  :D

Hope you find all you need, and get started in this new career!

@Sara Vojtasek  thank you so much Sara! I appreciate you sharing your insight on what has helped you and I can agree with the organized working. I will message you to get more information on that!

Originally posted by Account Closed:

@Account Closed  

Welcome. Best to start with a  foundation of knowledge.

Check out the Start Here page http://www.biggerpockets.com/starthere

Check out BiggerPockets Ultimate Beginner's Guide - A fantastic free book that walks through many of the key topics of real estate investing.

Check out the free BiggerPockets Podcast - A weekly podcast with interviews and a ton of great advice. And you get the benefit of having over 90 past ones to catch up on.

Locate and attend 3 different local REIA club meetings great place to meet people gather resources and info. Here you will meet wholesalers who provide deals and rehabbers.

Two Great reads, I bought both J. Scott The Book on Flipping Houses, The Book on Estimating ReHab Costs http://www.biggerpockets.com/flippingbook

Consider checking out HUD homes for small multi's owner occupied gets first crack.

You might consider Niche or Specialized Housing like student housing. Rents can be 2-4 times more. Remember you don't have to own a property to control it.

Download BP’s newest book here some good due diligence in Chapter 10. Real Estate Rewind Starting over

http://www.biggerpockets.com/files/user/brandonatbp/file/real-estate-rewind-a-biggerpockets-community-book

Good Luck

Paul

Every post I've seen of yours has the exact same copy and paste message lol

Account Closed I've seen yours too and seen the similarities, but I'll take it!

Originally posted by @Account Closed :

@Jessica W. I've seen yours too and seen the similarities, but I'll take it!

Oh sorry, I was  saying Paul always seems to post the exact same message every time I've seen him post lol. But good luck to you, this seems like a great place for us to learn from the experts - I'm new to this too :) It's encouraging to see other people like myself on here!

Account Closed I understood !! But yes, there are a lot of similar posts but a lot of similar questions you know? But I do agree it's very encouraging, for learners and to see people so willing to give valuable information!!

@Account Closed  Wow it is always great to see someone your age interested in real estate investment. i consider myself a rookie, even though I bought my first rental in 2007. I actually just posted a blog post on team building, maybe it can help you out.

http://www.biggerpockets.com/blogs/5868/blog_posts...

I would suggest to start building up your credit, both personal and business

With all the information on biggerpockets, it kinda becomes a mentor. Listen to as many podcasts as you can and learn from the guests.

Attend Real Estate investor meetings in your area to network with others.

You are young, so you have the advantage of time. Be patient and don't be in a rush to make that first deal.

If you have any other questions, or need more detail feel free to message me.

Janelle, I would recommend investing in getting a real estate license, and some classes in book keeping/accounting. The real estate license will give you a very diverse education in real estate that will give you a very generalized understanding, and the language used. 

The book keeping and accounting classes are so that you can find a contractor to work with they are always looking for help with their bookkeeping and accounting. This would be a great opportunity to for you to add value and allow you to possibly intern or trade mentorship to gain more construction knowledge. 

@Jonathan Wilks  thank you for your post! would you suggest in person vs online for attaining a real estate license? and how long would that take?

and also, are there other ways to easily create relationships with those in construction?

@janelle  in-person vs. online i believe to be a preference for your learning style. I would recommend in-person for some classes such as principles usually it is a good method to increase your network and see why others are interested in pursuing their license.  I am not sure about requirements in Texas, but in California it takes about 6 months to finish classes and be eligible for testing. 

A additional method to build relationship with individuals in construction is to get a job at home depot, and work in their professional section, and ask for early morning shifts.  the majority of successful contractors are early risers. 

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