I have a couple of guys in my investing group who are 25 and 23 years old. They are two of the most successful people in the group. I don't think either one has ever had a job. The younger one dropped out of college to do REI. They both started with less than nothing - they didn't even speak English when they got here: they're from Korea.
So, yes - there are people in your age group who are doing well!
Real Estate Consultant · Camarillo, CA · Member since 2010 · 2k+ posts · 1k+ votes
9y
Go to REI meetings, read as many books on investing that you can. Listen to podcasts and webcasts. Find someone that is successful at what you want to do and find out how you can help them. Be an errand boy/girl, lick stamps, make phone calls, etc. Do whatever it takes to be able to help them and learn from them.
Real Estate Consultant · Camarillo, CA · Member since 2010 · 2k+ posts · 1k+ votes
9y
I am envious of you having the ability to start out at such a young age. Do it right and have financial freedom before you get into your 30's. Don't let bumps in the road stop you.
Rental Property Investor · Brooklyn, NY · Member since 2014 · 722 posts · 1k+ votes
9y
@Tyron White Slow and steady wins the race. You have lots of time. A plan of slow, manageable growth will lead to a fortune in time.
The best way to make money is not to lose money. So be conservative and cautious. Avoid the temptation to use too much debt. Leverage accelerates returns when things are good and accelerates losses when things are bad. So use it judiciously.
Never invest only for appreciation. Only invest for current cash flow. If anyone ever tries to get you to buy a property because it's going to be worth a lot more in a few years, find a way to politely end the conversation.
Learn how to analyze the cash flow from properties so you can invest for cash flow.
New to Real Estate · Columbia, SC · Member since 2016 · 96 posts · 21 votes
9y
Thank you! Jonathan Twombly & Jeff Greenberg for the great advice. This past year I've been really confused about where to start in this business but you guys just cleared up my blurred vision. I understand.it takes a lot of small actions to achieve that big goal I'm pursuing. Especially being so young but I won't let that hinder me at all. Thank you guys again! Hope this will be helpful to other guys/girls my age interested in the same business.
I have a couple of guys in my investing group who are 25 and 23 years old. They are two of the most successful people in the group. I don't think either one has ever had a job. The younger one dropped out of college to do REI. They both started with less than nothing - they didn't even speak English when they got here: they're from Korea.
So, yes - there are people in your age group who are doing well!