I am 21 years old, and have been soaking us as much as I can about real estate investing, and general personal finance for the past 3 years.
What is something you wish you could go back and tell your 21 year old self?
@David Morad go an acquire more deals, the information is there, where most people fail is in taking action part, get yourself around great people who will encourage you to do more, set your goals bigger, keep learning and keep getting out of your comfort zone.
Honest truth? ...this may not be a great, positive, motivational post, but- I would wish I could tell my 21 year old self to load up even harder than I did during downturns/recessions.
@David Morad I would beat myself over the head to find and buddy up with a good and creative real estate lender. So much of investing is dependent on having a strong relationship with lenders that starting really small at 21 and proving to them that you are a great risk over years and years will make things a lot easier when you’re looking to throw gas on your investment fire later on in your career. Lender, broker, contractor and accountant. Find good ones and buy them as many lunches over the next 10 years as you can!!
@Conner Bland thank you for your input. I completely agree. I am currently trying pretty hard (mostly on here admittedly) to find those people, and connect with them. I have always lived in a very very rural area, with nobody around that fits that description, but I am gearing up to move to a city much larger, and one of my first priorities is to find good mentors, and good potential partners.
Any tips on finding the right ones?
@David Morad love that! Hope the move goes great! I’d say that anybody you come in contact with that has any hint of Real Estate knowledge or experience is worth buying them a coffee to hear what they do and see if they have any advice or referrals regarding what you want to do. Some of my closest working contacts are referrals from a referral from a referral from some random person I bumped into at an event one time. I’m a big believer in the 7 degrees of separation, so buy anybody you can coffee, food or a delicious adult beverage and listen, learn and ask for referrals! If you have no clue where to start, start with your closet BP Meet Up or local Real Estate Investors Association.
What city you thinking about moving to?
@Conner Bland I like that idea, thank you! I am probably going to be moving to Cape Girardeau Missouri. Not a big city, but much larger than where I am now, and a better market. It is also a college town, and I know a lot of students there. I will be looking for a job as well, and would really like to be able to find something that still has to do with real estate, so I can keep learning and making connections. I need to figure out where to start with that process as well.