Calling all investors 30 years old and younger
Real Estate Investor · Miami, FL · Member since 2015 · 16 posts · 19 votes
Calling all investors 30 years old and younger
Most Popular Reply
Wholesaler · Scottsdale, AZ · Member since 2014 · 227 posts · 93 votes
11yI would add my 2 cents but I wasn't invited into this discussion so...
BTW. I can't believe I'm at the stage that I'm too old for something.
127 Replies
- Visalia-Fresno, CA · Member since 2009 · 1k+ posts · 863 votes11y
I started when I was 25 years old... My focus has been on accumulating good debt and # of doors. Owning and controlling real estate is much interesting than buying, selling, spending profits and wholesaling.
Frank
- Realtor · Detroit, MI · Member since 2015 · 211 posts · 104 votes11yI found a mentor and began learning the wholesale game, then became a licensed realtor. My objective is to do deals in the US and I have other business goals I plan to accomplish overseas. Once you learn real estate you can do it anywhere. I want to get into commercial property eventually. Right now my focus is residential and this business does take time. Miami is a great market you will be successful, hope we can do some deals in the future, I use to live in Coconut Grove and know some events and things you can go to
- Salt Lake City, UT · Member since 2015 · 86 posts · 27 votes11y
It always cool to hear about other people starting out at a younger age.
I am 23 myself and I am just starting to plan out where I want to go with Real Estate. My plans right now are similar to yours and I am just trying to learn as much as I can before I jump into it. Another strategy I am exploring currently as well is to buy a small multifamily property. Either a duplex or Triplex and live in it while renting out the other units. This way you can start your Buy and hold acquisitions and reduce your expenses while possibly even receiving a little extra cash flow to put into your wholesale marketing.
Good luck to you and your ventures. I hope you find success in your market!
Regards
- Investor · lehigh valley, PA · Member since 2014 · 242 posts · 23 votes11y
Hi
I started when I was 21. I bought my 1st investment property and you name it, it needed it done. It was a fixer upper. I still do and did everything my self. I rarely hire anyone to do anything. I own 4 properties now and im 25. I always worked part time 20-30hrs a week and do my rental stuff in the afternoon, hoping to add 1 property a year. I never went to college, got started by watching all the real estate shows . My favorite one is flipping las vegas.
- Investor · Charlotte, NC · Member since 2014 · 131 posts · 46 votes11y
@Carlos Diaz I am 27 years old and got into the business officially in January of this year. In terms of goals, my primary one is income related; 10k a month in passive income. Second to that leave a legacy for my family to follow. I am a buy and hold type that will wholesale if/when a deal come my way. I acquire properties via sub2, lease option, or owner finance. There are few 20 something investors that I know of in my marketplace (Charlotte) but those that do are quite successful and are willing to help. Everyday I work to get better in particular with sales and negotiating. My first few meetings with sellers went horribly wrong in that I didn't close; however, they provided me with a good education in how and what to say to sellers to close deals. Since then I have closed two deals (buy and holds) and am working on a third now (duplex). Moving forward my short term goal is to acquire one to two deals per month.
- Investor · Phoenix, AZ · Member since 2015 · 8 posts · 3 votes11y
Hi I'm 18 years old and just started in RE investing in Phoenix, Az using the Clever investor program of Cody Sperber which is a great program but the mentoring program wasn't what i was expecting and there goes 6k to that but we live and we learn. I have never liked working for somebody and decided to pursuit the Entrepreneur life with Real Estate wholesaling first and i just been in this for about a month and a few days. I've been putting up bandit signs and sending letters to absentee owners but still no calls, any other ideas? i really want to get a deal already but I don't want to give up!
I hope the best for everybody and there journey to success and being financially free!
- Monroe, WI · Member since 2015 · 31 posts · 7 votes11y
I'm 22 and am planning on buying my first Duplex and living in one half and renting the other. I plan to acquire one more property right after, possibly a SFH or another duplex, then I will have a decent amount of capital and I am going to flip a few houses to increase my income to qualify for more mortgages and build my rentals until I have 20-25 properties, that's my 10 year plan.
- 11yTarl YarberPro MemberFlipper/Rehabber · Seattle, WA · Member since 2014 · 415 posts · 401 votes
Great topic, you sure are getting a lot of responses.
I am 30 years old now but I started in this business when I was 20 years old after going to a real estate wealth expo where Robert Kyosaki and Donald Trump were speaking. There was of course a ton of other real estate gurus there with break out sessions who were selling their own seminars and such.
I went to one called "How to turn $10 into $10,000 in 30 days!" This was my first time I ever heard about wholesaling. I took out my credit card, bought the program, and did it knowing I had no way of paying the credit card at all unless I succeeded in the program. I was young and dumb, and I actually believed I could do it.
Long story, but my first deal happened 6 months later, I worked the hell out of that program, scared to death, but got better and better. Door knocked cause I had no money. Talked to everyone I knew and asked them to bird dog, etc. First deal came, I made a quick wholesale fee, and then I realized this crap actually works!
2nd deal came not long after. Then the 3rd deal was a 40 acre piece of land that I wholesaled, I used a double escrow and when the smoked cleared after a 3 month escrow, my fee was $100,000
I was hooked. I do this full time and run a real estate fund with partners, we specialize in flipping and doing consulting and real estate partnerships.
This business can be very hard and very nerve racking at times, but keep with it, meet the right people, take action correctly, be conservative with numbers, don't get emotional, listen to the numbers, etc...Good Luck!
- Investor · Ogden, UT · Member since 2014 · 24 posts · 18 votes11y
I'm in my 20s and I've been active in RE for about 2.5 years. I've figured somethings out as I've gone along. Focus on managing your time. Outline goals you want to achieve and figure out how to accomplish those goals, break them down into steps then take action.
Network like crazy and surround yourself with people that know more than you do (and join a local REIA). Some of the most successful people throughout history have been people that have the ability to bring people together or know who to turn to when an issue arises; you don't have to know everything, but you should know enough people that collectively can get the job done.
- Real Estate Investor · Miami, FL · Member since 2015 · 16 posts · 19 votes11y
Thanks for all the responses!
It is great to see some of the younger members here working hard and succeeding! Some days I wake up and I'm in attack mode. Others, I feel worried or discouraged that I have not made a deal yet. I know persistence is key, and by taking action, and involving myself in the business each day my time will come.
@Lucas P. I did not mean to alienate or upset anyone. Where and when did you start REI? How did did you start? Where are you now? Would you mind shedding some light on your first deal?
- Investor · Pawleys Island, SC · Member since 2015 · 324 posts · 385 votes11y
I'm 29. My father, who owned rental property, encouraged me and my husband to buy a fixer upper, live in it, renovate, then move out and the rent it (house hack). I now own 3 properties.
- Houston, TX · Member since 2015 · 204 posts · 68 votes11y
I'm 26 and very new to real estate investing. I've been absorbing all that I can for the past month or so, work-research-work-research-weekend (research) repeat! I will start out with a duplex up to a fourplex, owner occupied for the required yr and then refinance and purchase another. Around the same time of my first purchase I also want to purchase a SFH (buy and hold). Later down the the road I will get into flipping. I started out with 3 solid niches, but from being active on BP has brought me to about 6. After learning more I'll be able to key in on the ones that still make sense after aquiring more knowledge on them. Good Luck to everyone!
- Investor · Valdosta, GA · Member since 2015 · 187 posts · 112 votes11y
Originally posted by @Carlos Diaz:
I am a 25 year old from Miami, FL. I started inquiring about RE investing in January, 2015, and I took action the first week of March, 2015. I started a wholesaling operation and have been steadily sending out postcards to absentee owners with 40% or more equity in Dade County. I have not made a deal yet, but have had a decent response rate and I hope to see some motivated sellers coming soon. My goal is to build some cash through wholesailing and eventually purchase buy and hold investments.
I want to know the strategies and goals of other twenty-somethings across the country? What are you working on on a daily basis? How long have you been investing? Where/how did you start? Where do you see yourself in the future?
Many Thanks,
Carlos Diaz
Hi Carlos! I just turned 25 back in February. I started learning about REI in November of last year. Sent my first yellow letters in late February. Made my first offer in the first week of April. Today I'm putting my first property under contract.
My goal is about the same as yours - wholesale for cash to buy & hold. I'm also interested in doing 2-3 flips a year though. I'm really into home reno & interior decorating.
First, I want to pay down some debt from my frivolous early 20s though lol.
On a daily basis, I'm still building a solid foundation for my real estate company's marketing. Website maintenance, social media, PPC ads, classifieds, cold calling and direct mail. I handwrite my letters still.
I'm also researching how to put systems in place as I move through my first deal. I want the experience of doing it myself a couple times before trying to outsource.
In the future, I see myself enjoying more time with my family and less time in front of a computer screen. I see more travel and vacations, which I'm sure will result in me becoming a long-distance landlord.
I offer property management to buyers of my wholesale deals, so in the future I'd like to think I'll be skilled in selecting a good PM for my distant rentals.
- Investor · Valdosta, GA · Member since 2015 · 187 posts · 112 votes11y
Originally posted by @Chris Milan:
Hi I'm 18 years old and just started in RE investing in Phoenix, Az using the Clever investor program of Cody Sperber which is a great program but the mentoring program wasn't what i was expecting and there goes 6k to that but we live and we learn. I have never liked working for somebody and decided to pursuit the Entrepreneur life with Real Estate wholesaling first and i just been in this for about a month and a few days. I've been putting up bandit signs and sending letters to absentee owners but still no calls, any other ideas? i really want to get a deal already but I don't want to give up!
I hope the best for everybody and there journey to success and being financially free!
I started my in-depth study of real estate investing with the 'Fast Track Profit System' program by Cody Sperber. Only paid for the $297 course though. I'm sorry to hear about your 6k gone to waste but on the bright side, you're young and have plenty time to recoup that and make millions more. :)
My first property under contract came from driving-for-dollars. If you're unfamiliar with the term, just use the search feature here on BP to learn more about it. It's basically driving around & listing addresses for vacant/abandoned/distressed/boarded-up houses. Then go look up those addressees to find the owner's contact info. Call or send a letter to the owner offering to buy. The rest flows from there.
Your driving-for-dollars list will probably yield the highest response rates.
- Real Estate Investor in Training · Harrisburg, PA · Member since 2011 · 54 posts · 10 votes11y
Hie everyone , Tino here, im 30, im yet to get started investing the plan would be to buy 4 unit "house hack" an roll over the savings into my next property , hope to buy this property in 2016.
- New York City, NY · Member since 2015 · 8 posts · 2 votes11y
I am 30 plus. Can I post here?
- tampa, FL · Member since 2014 · 86 posts · 23 votes11y
26, have been interested in real estate since college and always thought it was better than being stuck at a 9-5, which is what im doing currently. Im more interested in the lifestyle and being able to make my own schedule. Ive lived in 5 cities in 4 states over the last 4 years, which makes it tough to buy something right now, not interested in long distance landlording. Im trying to learn as much as possible and have met with a few people from BP. Im interested in SF and eventually MF buy and holds and will probably start with a live in fix and hold in B neighborhoods. Im interested to see what happens to prices once interest rates rise and hopefully opens doors for me to buy all cash.
- Real Estate Agent · Richardson, TX · Member since 2014 · 511 posts · 161 votes11y
I'm 25, started to take it very seriously about 6 months ago and so far I've only bought a condo for myself which I plan on renting after a year. It will appreciate decently and generate good cash flow.
I'm currently focusing on cheap areas, hoping to rehab and cash out refi, then rent these properties and use some of the cash out refi to keep buying more properties. My goal is to cash flow at least 150 per each property.I'm also studying to become a realtor which should help me to cut my closing costs and have quicker access to the properties. I'm also planning on "House hacking" every 1 or 2 years at most.
- Investor · Carnegie, PA · Member since 2014 · 259 posts · 144 votes11y
Great post!
I bought my first house when I was 24 at a discount and completely renovated it. My wife and I still live there, but we plan to move out and rent it. I'm 29 now and within the past year or so we have really started to get more serious about real estate investing. We started a company in 2014 and bought our first duplex. It was an off market deal that we heard about through our network. The seller was a tired landlord and just wanted to unload it, so we got it at about 60% of market value.
Right now we're looking for more multi's in our area (on the MLS and through direct mail), and working to build our network to find private investors for more deals. Since we both also work full time W2 jobs, our primary focus is to build as much cashflow as we can in the short term. We plan to use the cashflow to re-invest in the business, but ultimately we want to use it to replace our W2 income, and long term of course to build equity. Over the next 10 years, our goal is to get (at least) 100 units; or if I'm thinking like @GrantCardone - 1,000 Units
- Investor, Entrepreneur, Educator · Springfield, MO · Member since 2009 · 21k+ posts · 12k+ votes11y
I have been in my 20's, not so old I forgot them, my gosh.....
Is there some age discrimination going on here, asking for advice from only peers?
You may well be in violation of the laws of wisdom.
Knowledge without experience is just information.....Mark Twain.
Experience without knowledge and wisdom is just forum chatter.....Bill G.
LOL, you young'ns have fun! :)
- Real Estate Agent · Naperville, IL · Member since 2013 · 402 posts · 177 votes11y
I just turned 26 and have two condominiums in the suburbs of Chicago. While this isn't the ideal investing model because of the HOA fees included on most condo's, it was a good way for me to learn landlording and not have to worry about doing all of the work myself. I have learned what can go wrong (or better said, what will go wrong) and about dealing with tenants. Even with the HOA fees I have managed to make both properties cash flow. Soon I hope to expand to a small 2-3 unit MFH in the next year and grow from there. Just getting the equity built up in the properties now, while I continue to advance in my 9-5 job until I can earn enough to do REI full time!!
- 11yScott TrenchPro MemberRental Property Investor · Denver, CO · Member since 2014 · 2k+ posts · 6k+ votes
I'm 24 and got started last year. I bought a duplex, live in half and rent out the other unit like a couple of other folks on this thread.
I think it's arguably one of the best ways to break into REI because I have the advantage of a really trustworthy property manager (myself) for the next year or so.
My plan is as follows:
1) Get to 20% equity in this property by the end of the year, and refinance out of my FHA mortgage to improve the property's cash flow and move it into an LLC. I can get to 20% equity by improving the property while I live there, paying down the principle on the loan early, and through simple market appreciation.
2) After refinance, I'll be able to use another FHA loan to purchase a second duplex/fourplex. I'll rinse and repeat in 2016.
3) In the meantime, I'm saving up a good chunk of cash while working my job and using the rent from the duplex to subsidize my housing. I may invest out of state, or partner on a flip with an experienced real estate investor and @Walker Hinshaw.
On a daily basis, I work here at BiggerPockets, helping the site grow, and connecting with investors around the country ;). On a nightly basis, I look for real estate deals and work on my own property.
Down the line, I see myself doubling the number of cash flowing doors/units that I'm invested in each year. I bought two units (one duplex) in 2014. I hope to acquire four more units in 2015/early 2016. Eight in 2016/2017. And so on.
- Los Angeles, CA · Member since 2015 · 12 posts · 3 votes11y
I am 25 and brand new to the idea of real estate investing. I barely know where to start but am encouraged that there are so many others close to my age that have been able to successfully invest. As I am in Los Angeles, I am open to the possibility of investing out of state. Similar to Carlos, I plan to eventually buy and hold rental properties, but am open to the possibility of flipping or wholesaling to build enough cash to make this more realistic. Nikki, I like the idea of "driving for dollars" because my current job requires me to drive around all day. Where would you go to find information about the addresses you list?
- 11yDan ShelhamerPro MemberRealtor · Mesa, AZ · Member since 2015 · 163 posts · 99 votes
I just turned 26, and bought my 1st home at 24 using an FHA loan. I was lucky to be able to "house hack", as I have my brother, buddy, and girlfriend all living in it, and covering the mortgage & utilities. I have always been very passionate to learn about Real Estate, and Bigger Pockets opened up so many more possibilities for me as an investor. I am currently educating myself on everything related to RE (the bigger pockets podcast is an amazing tool), and am looking to purchase my 1st rental in the next few months. I also want to do wholesaling/flipping to acquire more capital for rentals. My goal is to have my properties paid off in 10 years, and have $12-$15k/month of passive income. I am looking for properties in the Northern Suburbs of Chicago if anyone out there is selling!
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