Would you take an 18 year old landlord seriously?

Question

I want to get into buy and hold Real Estate. My age is a huge concern for me. I think possible tenants will not take me seriously. I am only 18 years old.

J W. · Answer

Some of the worst advice I received when I was an 18 year old intern at a real estate agency was to stay away from real estate for a while until I had some more seasoning and age and had been a homeowner myself for a while. Unfortunately I took that experienced agent's words to heart and now regret having listened.  Don't let your age hold you back. Tenants should be in awe of an 18 year old who can pull off ownership of rental units. Compare positions with your tenants. Which one of you is succeeding in your dream of real estate ownership? The only thing they will know for certain is that you are fairly new to the race. Win anyway.

Dawn Brenengen · Answer

@Nicholas Patrick Grow a 5 o'clock shadow, wear "grown up" clothes and carry yourself with confidence.  No one will question you, and if they do, who cares!

Peter Vekselman · Answer

Just remember, even Michael Jordan was a rookie at some point. You are at great age.  At this point learn as much as you can and can involved at every level and learn as much as possible.

On top of all this, at your age there is no better time to make an error.

Go for it!!!!

Justin B. · Answer

PROPERTY MANAGER. Problem solved. :)

And at 18 years old, the least of your challenges will be how your tenants see you.  You may not want to hear it, but if you are going to have challenges because of your age, it's going to be in the areas of getting financing, having sellers take you seriously, etc.  Because of your age, you are going to have lots of challenges the rest of us just won't.

That being said, don't let that stop you.  The best thing you can do for yourself is not be naive about it.  Understand the challenges will be there and be prepared for them.  Press on!

Jon Behlke · Answer

I think you're better off if your tenants don't know you're the owner regardless of age.  Play the role of property manager so when you need to be a hard-you-know-what, you can blame that jerk of an owner.  If they see you as the owner, you'll hear every excuse and lame story you'll ever want to hear.  If they see you as the PM, you're just the guy following orders.

Rocky V. · Answer

Tenants do not need to know you are owner.  What hat you wear is your choice eg property manager, maintenance tech, assistant, plumber, etc.

Bhekizwe M. · Answer

Age is just a number,as it says nothing about being astute/confident in real estate investing.In fact its an advantage to start so young

Russell Naylor · Answer

I'll echo everyone above. There are ways around the age factor. Props for getting into the game young!

Christopher B. · Answer

Yup, don't let your age hinder you. I purchased my first property when I was 24 but I have a baby face and looked like I was maybe 20. The key is to know your stuff and be confident in your abilities but not egotistical. Acknowledge your mistakes and be open to constantly learning. Some people may be jerks about your age, others will appreciate your honest attempt to create a successful future for yourself and be great resources for you. The only limitations you have are those you set upon yourself.

Would you take an 18 year old landlord seriously?

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