Buffalo, NY · Member since 2017 · 64 posts · 85 votes
I am 16 years old, I live in Buffalo NewYork. I have done a lot of research, and i will continue to study and learn everything I can. But I would like to know, how can i get my foot into the door and really learn the real estate business at my age? Any sort of advice will be helpful, thank you!
@John Moorhouse First of all congrats on thinking like this so early in your life. I am sure I speak for many people on here and we did not think about investing till a later age (atleast that was my case). Best advice I can give you is to educate yourself to think correctly, do not worry about the "How" to do things just yet, focus on the "Why" you should do things.
I have a son and at 14 years old he came to me and said he wanted to buy a rental property, He learned this because I own a property management company, have rental properties that I own, and I speak around the US and Australia on this subject. The one thing that I do every single day is I listen to audio books and podcast shows, while he is with me he by default is listening to them also. It was the years of him listening to all the shows, hearing me speak about it on stage as well as my own radio and podcast show that got him to want his own.
Part of his chores is that he has to listen to so many minutes of a podcast or audiobook daily. If I would have just made him go buy a rental it would not have meant anything to him, but the fact that he learned by listening on his own and made the decision to me is something that will just grow over time and make him that much more successful.
@John Moorhouse I wish I had your mindset so early! My advice is to continue your research and save money. If you have a part time job just put it away. You have so much time and no/low expenses. Don't get caught up in the distractions as you get a little older. Find a local group and start networking man that will be your best friend right now. Don't be afraid to introduce yourself and just ask them if they are looking for anyone to do work for FREE. Some investors that are just getting started and can't afford to pay you but they will have information you don't. Personally I am in property management and it has given me a chance to get to know the business.
@Ryan McGrath do they want experience at all when hiring? Ive helped with renovations, I can run just about any tool you give me but I no formal training.
Typically not. Because the market is so strong and every GC and subcontractor need good people, you should be able to get your foot in the door with no experience at all.
The biggest thing I want to point out is you need a good attitude. Its NOT easy working as the newbie on a crew around seasoned guys who have been doing it for 10-30 years. You will be tested daily.
If you HUSTLE and do what you are told without talking back, they will teach you more and more and you will do just fine. I hear from my subcontractors all of the time about how they can't find enough good people. But the Boston market is insane right now and there is more work than people to perform it.
I started out as a laborer, then worked my way up and before I knew it I was framing houses and able to run a crew. It will take years, but if you build that knowledge base, you will have an edge that most don't which will help you TREMENDOUSLY when first starting out.
@Ryan McGrath I like that. Im probably going to do that. I am used to working with people who are seasoned my dads a mechanic, my uncles a lead weirder, my uncle John is a carpenter. Im used to dealing with them. And I definitely have the attitude. Thank you for sharing how you started because Ive never talked to anyone who actually started as a laborer.
@John Moorhouse To set yourself up for success, I would identify a few different good GC's you want to work for. Write up a cover letter that drives home that you are motivated, want to learn and take direction well. GC's will appreciate that and you will have a great shot at getting hired. You won't make much at first but the knowledge and experience gained will set you up for success when it comes to investing in highly distressed properties.
Use your growing knowledge base to find someone that might let you shadow them. Preferably an investor, but even a solid realtor at this point who might allow you to volunteer your assistance in exchange for first hand experience.
The key here is patient consistency. You're so young, if you start and JUST KEEP GOING... the incremental gains in knowledge and experience will lead to early action. Don't expect instant results, or even results in the next year or two. Blind faith, and keep chipping away.