What would you tell your 19 year old self?

Rental Property Investor · Denver, CO · Member since 2019 · 231 posts · 256 votes

Hey, Bigger pockets community. My name is Bailey Kramer and I am 19 years old. I am just beginning my real estate journey and have fallen in love with the idea of multi-family as an investment strategy. I have a base knowledge from books, podcasts, youtube videos, and reading forums, but I definitely want to get first-hand experience. I am most interested in multi-family properties because I love the scalability potential amongst many other things. I would love to hear about your story in the real estate industry, and if you could, answer the question, "What would you tell your 19-year-old self?"

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Joseph CacciapagliaBusiness Member

Lender · San Antonio, TX · Member since 2020 · 1k+ posts · 1k+ votes

I would tell my 19 year old self to skip college, skip graduate school, skip law school, don't buy any of the guru's courses, then go get a real estate license, find a broker with an in-house property management team and a great training/mentor program, start selling properties, find some successful investors to work with, and model their business. Also, spend much less time reading about real estate, and a lot more time building a team and making offers. Once you've read 5-7 great books on real estate, there isn't that much more to learn, until you actually start doing. Maybe read one book a quarter, instead of 1 a week (that's what I did for the first several years). You don't need to know a lot about several strategies, you need to gain experience with one. Which one doesn't really matter. Don't be afraid to give up a lot of equity, to get your first several deals going.

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Joseph CacciapagliaBusiness Member
Lender · San Antonio, TX · Member since 2020 · 1k+ posts · 1k+ votes
6y
I would tell my 19 year old self to skip college, skip graduate school, skip law school, don't buy any of the guru's courses, then go get a real estate license, find a broker with an in-house property management team and a great training/mentor program, start selling properties, find some successful investors to work with, and model their business. Also, spend much less time reading about real estate, and a lot more time building a team and making offers. Once you've read 5-7 great books on real estate, there isn't that much more to learn, until you actually start doing. Maybe read one book a quarter, instead of 1 a week (that's what I did for the first several years). You don't need to know a lot about several strategies, you need to gain experience with one. Which one doesn't really matter. Don't be afraid to give up a lot of equity, to get your first several deals going.
[email protected]979-218-2286
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Anthony Simboli
Investor · Londonderry, NH · Member since 2015 · 163 posts · 59 votes
6y
@Bailey Kramer
1. I wish I was asking that question at 19
2. Find someone who has experience in your area and see if you can start a mentor/mentee relationship. Depending on what you have to offer, maybe you can work together on a deal. Even if you get a very small percentage financially, you can can a ton of knowledge and experience in the process. Every property is different, but my opinion is real life experience will always win over any textbook you may read (still think you should continue with reading and podcasts and such) but focus more on the real life experiences.
5 Reply
Michael H.
Rental Property Investor · Worcester, MA · Member since 2014 · 47 posts · 41 votes
6y
@Bailey Kramer
Be very diligent about saving at least 10% of all incomes through high school and college and DO NOT TOUCH IT unless investing it. Put it in a Roth IRA for example.
5 Reply
Account Closed
Real Estate Agent · Cleveland, OH · Member since 2019 · 33 posts · 19 votes
6y
I'm in the same boat. I'm 22 now, but have been interested since 18. I got my real estate license this past year. Now looking for partnerships, in order to start my portfolio.
5 Reply
Tyler GibsonBusiness Member
Real Estate Agent · Orlando, FL · Member since 2017 · 1k+ posts · 2k+ votes
6y
@Bailey Kramer Try to connect with @Bernadeau C.
[email protected]407-590-9858
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Bailey Kramer
OP
Rental Property Investor · Denver, CO · Member since 2019 · 231 posts · 256 votes
6y
@Joseph Cacciapaglia Thanks for the advice! Much appreciated!
0 Reply
Bailey Kramer
OP
Rental Property Investor · Denver, CO · Member since 2019 · 231 posts · 256 votes
6y
@Anthony Simboli Thanks Anthony!!
0 Reply
Bailey Kramer
OP
Rental Property Investor · Denver, CO · Member since 2019 · 231 posts · 256 votes
6y
@Michael Hohrath Thanks Michael! Will do!
0 Reply
Bailey Kramer
OP
Rental Property Investor · Denver, CO · Member since 2019 · 231 posts · 256 votes
6y
@Noah Mehrle Good luck on your investment path, Noah! I’d be happy to stay connected and help you in any way I can!
0 Reply
Nick Rutkowski
Rental Property Investor · Ithaca, NY · Member since 2015 · 1k+ posts · 1k+ votes
6y
@Bailey Kramer
Stop chasing women, getting drunk on the weekends, and double down on your side hustles. Exponential growth takes years to build so start now. Oh, keep listening to yourself and not your parents, friends, or anyone who tells you “you can’t do it!”
10 Reply
Filipe Pereira
Property Manager · Windsor Locks, CT · Member since 2016 · 1k+ posts · 1k+ votes
6y
I would tell my 19 year old self to live a little more, spend a bit more on trips and worry a lot less. What I thought were big problems then don't come within reach of what I'm up against now.
I was that guy working 20-30 hrs / wk in high school, taking the advanced courses, playing sports, worked in college, 40 hr weeks over the summer, sold stickers and tee shirts as a side hustle, etc.

I wish I had spent 80% of my time doing all that stuff and 20% of my time going out with friends, doing a bit more traveling, going on a road trip, etc.
But at the same time, I'm glad I didn't, because at 23 I had enough money to buy a 4 plex, and by 24 I bought my next house and quit my job. Real estate income covered my bills and I didn't need to work for that anymore. Before I would work to earn a living and pay my bills, now I work to challenge myself. It's a different beast.
6 Reply
Brian LucierPro Member
Property Manager · Fitchburg, MA · Member since 2012 · 146 posts · 201 votes
6y
19-year old honey-do list:
- Buy as much rental property I can get my hands on
- Stay away from negative people
- Read Real Estate Books (cheaper than gurus)
- Read Business Books (still cheaper than gurus)
- Eat well & Exercise
- Love, Laugh & Live
4 Reply
Michael Noto
Real Estate Agent · Southington, CT · Member since 2008 · 5k+ posts · 3k+ votes
6y
@Bailey Kramer In this business you either need money or access to it in order to make moves. Anyone who tells you different is either lying to you or trying to sell something to you.
Save your money, and do whatever you need to do in order to reach your saving goals. For most people that will include working multiple jobs. Set the template for that now because the one thing you can't get back is time.
While you are saving and reading as much as you can to get an idea for what strategy you want to pursue see if you can get experience in the field. For instance, I would recommend getting your agents license and using that as a tool to network locally, but it doesn't have to be that. You can work for a property manager, be a licensed assistant to an agent, etc to learn different aspects of the business.
By the way, you can do all of this and still have a normal life despite what people say. SAVE YOUR MONEY!
1 Reply
Jim Nettles
Rental Property Investor · Ormond Beach, FL · Member since 2020 · 15 posts · 4 votes
6y
@Bailey Kramer my son is 18 and is very interested in real estate and business. He is also trying to decide what to do with his life in order to achieve his goals. He’s reading RE books and listening to podcasts. He’s on the fence with college as well. He doesn’t want to go. However Our opinion to him is to expand his knowledge in business and RE principles and start building a firm foundation from which to grow his portfolio and business. To do this I think he should attend college and then use that degree to save money, learn the business, network and obtain a RE license. Good luck with your journey.
1 Reply
Avery CarlBusiness Member
Real Estate Agent · USA · Member since 2016 · 909 posts · 1k+ votes
6y
Buy what you can afford as soon as you can afford it (assuming you do the proper research) and snowball that into more and bigger properties over time.
I am kicking my 20 year old self for not buying the 70k houses some of my bartender friends were buying on the east side of Austin back then. I could have afforded one, but I had the silly idea that they needed to be nicer than they were. No, young Avery, they REALLY did not. I was focused on saving for something bigger/better. Those same friends cashed out a few years later for closer to the $500k mark.
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3 Reply
Danny Webber
Real Estate Broker · Austin, TX · Member since 2016 · 834 posts · 449 votes
6y
get a RE License
find a mentor
apprentice for free if you can to someone successful
1 Reply
Jerid Meagan
Real Estate Agent · Albany, NY · Member since 2019 · 66 posts · 36 votes
6y
@Bailey Kramer
Start early. Keep an open mind. Challenge conventional wisdom. Time is on your side and many of us wish we had the self awareness at 19 to ask ourselves that question - <this is where we bump feet, Covid friendly>
It's a marathon not a sprint, so get started. Consider getting into property management. You get to learn the ropes of the business on someone else's dime.
Good luck!
2 Reply
Bola A.
Rental Property Investor · Houston, TX · Member since 2014 · 146 posts · 35 votes
6y
@Bailey Kramer
I am good investor but I will like to add a statement that will take you through life and all aspect of it and the statement is " know thyself" both sides of thyself physical and spiritual part.
1 Reply
Caleb Heimsoth
Rental Property Investor · Durham, NC · Member since 2016 · 7k+ posts · 7k+ votes
6y
@Bailey Kramer
Granted I wasn’t 19 that long ago, but here’s what I would tell myself then:
1. Buy as much bitcoin as you can. It was around 70 dollars then, and is over 8000 now
2. Buy as much FB stock as possible. It was around 23 dollars a share then, over 200 now
3. Buy as much Tesla stock as possible. It’s over 800 a share now and was closer to 120 a share then.
Notice I didn’t say buy real estate. In all seriousness, start investing (in whatever it is) sooner rather than later. If you invested on your kids behalf when they’re born, you can almost create automatic millionaires (may still take 50 years for them, but you get the idea)
2 Reply
Justin Thorpe
Member since 2020 · 437 posts · 675 votes
6y
1) Understand how compounding works. It is very powerful.
2) Have big goals. Like really big.
3) Invest time to find great mentors. Surround yourself with people you want to emulate. Don’t get trapped into being the smartest person in the room.
4) Know that time moves very fast and is always in short supply
5) Greed and Foolishness are close friends
1 Reply
George W.
Investor · NJ · Member since 2018 · 869 posts · 921 votes
6y
If I could tell my 19 year old self anything, I'd say your on the right track keep doing what your doing career wise and pat myself on the back. Skipping college and getting into plumbing was the best investment I ever made. Now I've got a decent busines and am in charge of my own schedule. But id also say to stop wasting money on dumb things like lifted pickup trucks and fast cars. Save more money to invest to start your business.
I also would've told my 19year old self to apply for the newly formed hvac/r license in NJ. I totally missed the boat and could've gotten grandfathered in. Now ill be in school another 2years and have to hire a bonafide rep if I ever want that license for my company.
my 19year old self would never believe what happens in 2020 though Haha
4 Reply
Mark Hove
Real Estate Broker · Durham, NC · Member since 2018 · 43 posts · 61 votes
6y
@Bailey Kramer max out your Roth IRA. At your age, starting now (2020) vs starting in 2021 will likely be a 500k difference by age 60. After you've maxed out your Roth, see if you can buy a house!
0 Reply
Jill F.
Investor · Akron, OH · Member since 2016 · 2k+ posts · 4k+ votes
6y
@Bailey Kramer Learn about cluster "B" personality disorders. Don't marry one and don't rent to one.
4 Reply
Josiah Patrick Zebarth
Rental Property Investor · Denver, CO · Member since 2019 · 76 posts · 70 votes
6y
@Bailey Kramer
Hey, Bailey!
Go for taking the risks of adding value and getting mentors. If it doesn’t work, no problem because getting out there is what mattered.
As before mentioned, the classic saving for a down payment. As Scott Trench would say it, create a year of financial runway to: pursue real estate, start a business, or gain a high income skill that can rocket propel your income and thus savings to invest.
Good on you for being learning about and choosing real estate for better life at such a young age. I wish you good luck!
Best,
Josiah
2 Reply
Fay Chen
Investor · Bothell, WA · Member since 2015 · 214 posts · 104 votes
6y
@Bailey Kramer I would tell myself to learn more about rehab. Fix the faucet, plumbing at my parents house, volunteer for habitat for humanity and learn all I can about construction.
2 Reply

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