Charleston, SC · Member since 2020 · 5 posts · 1 vote
Hey you all, my name is Gregg and I am in South Carolina. I’m 19 years old and looking to start in real estate. Is there any tips or things i should specifically be looking out for? Thanks in advance !
Investor · Tampa, FL · Member since 2020 · 17 posts · 10 votes
6y
@Greggory Scott Hey Gregg, welcome! For starters, I suggest building your educational foundation in real estate (RE) FIRST. Get familiar with RE terminology, strategies, your local markets, and develop your personal investment strategy/business plan. Write down what you want to achieve through RE, identify the type of property you want to pursue (single family home, multi family, mobile home, commercial, etc) how you will pursue (wholesale, invest, sell as a realtor, GC, etc), strategies to building wealth through your prefer methods, and the time frame in which you would want to accomplish those goals.
If you haven’t already, start listening to the BP Podcasts, literally hundreds of hours of helpful content (start with ep 1). Join in on the weekly webinars, which go live every Wednesday (I believe) at 7pm EST. Access the handful of BP YouTube videos that show in-depth walkthroughs of real investment properties and how-to videos on analyzing those deals. Then practice for yourself; practice makes perfect. Read through the forums, they will become your RE Bible. May seem overwhelming at first, but you will begin to pick up on familiarities. And don’t be afraid to participate in forum posts! It’s a great way to network as well.
There’s a lot of information in the RE world so don’t be discouraged, be open to actively learning!
Investor · Tampa, FL · Member since 2020 · 17 posts · 10 votes
6y
@Greggory Scott Hey Gregg, welcome! For starters, I suggest building your educational foundation in real estate (RE) FIRST. Get familiar with RE terminology, strategies, your local markets, and develop your personal investment strategy/business plan. Write down what you want to achieve through RE, identify the type of property you want to pursue (single family home, multi family, mobile home, commercial, etc) how you will pursue (wholesale, invest, sell as a realtor, GC, etc), strategies to building wealth through your prefer methods, and the time frame in which you would want to accomplish those goals.
If you haven’t already, start listening to the BP Podcasts, literally hundreds of hours of helpful content (start with ep 1). Join in on the weekly webinars, which go live every Wednesday (I believe) at 7pm EST. Access the handful of BP YouTube videos that show in-depth walkthroughs of real investment properties and how-to videos on analyzing those deals. Then practice for yourself; practice makes perfect. Read through the forums, they will become your RE Bible. May seem overwhelming at first, but you will begin to pick up on familiarities. And don’t be afraid to participate in forum posts! It’s a great way to network as well.
There’s a lot of information in the RE world so don’t be discouraged, be open to actively learning!
Cincinnati, OH · Member since 2020 · 299 posts · 476 votes
6y
@Greggory Scott Welcome to BiggerPockets! It's amazing that you're starting out so young. I would recommend continuing to learn as much as you can from BiggerPockets in all your areas of interest. All the best!
Flipper/Rehabber · Piedmont, SC · Member since 2018 · 119 posts · 50 votes
6y
@Greggory Scott. Welcome to bp. Lots of great info here and great people. What part of sc do u live in? It’s great u want to start so early in life. Nick had some great advice. Keep learning and think what direction u want to go in. Good luck.
Real Estate Agent · Kansas City · Member since 2018 · 4k+ posts · 3k+ votes
6y
What's your end goal in REI? Have you thought about wholesaling, being an agent, interning, construction, etc? I would listen and learn as much as you can. Time is on your side.
Charleston, SC · Member since 2020 · 5 posts · 1 vote
6y
@Caleb Brown My end goal is to basically create another steady source of income and eventually own my own company. I would love to intern someone to have a good 1v1 talk as to what to expect and how I need to start
I would also recommend self educating as much as possible. Here is a link to a Forbes article I wrote about getting started: https://www.forbes.com/sites/f...
Finding a mentor is also super helpful. I believe there is a link in the above article to how to do that as well.
Surrounding yourself with like minded people who will support you in this journey is key, especially given your age. I think it's awesome you're so young starting out in REI. It's a great vehicle to get you to financial freedom!
New to Real Estate · San Luis Obispo, CA · Member since 2019 · 5 posts · 2 votes
6y
@Greggory Scott the fact that you are looking to this at 19 is respectable to begin with. I started looking to this at 26..... well done to you my friend. I still haven't bought first deal (been about 7 months) so I am far from the person to take advice from. What I can say is I wish I had House Hacked when I was in my early 20s. Work a second job if needed, say no to some nights out, get that duplex, and start growing your net worth with the equity you will build. That's my perspective as someone who wishes he had started 8 years earlier, at the age you are now.
Rental Property Investor · Denver, CO · Member since 2016 · 621 posts · 362 votes
6y
Hey @Greggory Scott Congrats to you for your ambition! I work with a bunch of young aspiring real estate investors just like you, and I am willing to help you out with some advice or even chat on the phone if you wish. But I recommend you read this article I wrote for Bigger Pockets titled How to Invest in Real Estate Before Turning 21 which will address some of your questions in your post. Once you've read it, let me know your thoughts and if you have any questions. I am a high school teacher in Colorado and I am always looking to help young people get started in real estate investing or help in any way I can. Let me know if you want to chat sometime. https://www.biggerpockets.com/..