First Deal Success 3 yrs in the making!
HI Bigger Pockets friends,
My name is Jordan, I'm a 16 yr old Real Estate investor. I joined bigger pockets a couple years ago but my journey in real estate began about 3 years ago. When I first started at 13 years old I read lots of real estate and general business books and went to a reia meeting and found a mentor (who is still my mentor). I attended a few classes and tried to begin my career on my own. After swinging for the fences for 2 years trying to wholesale despite the obvious handicap of my age I realized I would need to change my approach. I found another investor in my market who was just starting out and we decided to put our forces together. He had more capital, credit, and the age (credibility), that I lacked. And I had 2 yrs worth of industry knowledge. Fast forward about 10 months and several marketing campaigns later we've closed our first wholesale deal that netted $8k! I received a lot of understandable and sound advice from experts urging me to wait to begin my career, but I found a way, and so should you!
With one deal under my belt I am by no means and expert, but here is my "word to the wise" to everyone else just getting started.
1) Know what you're getting yourself into, active RE investing with no cash or credit is not nearly as easy as many gurus may lead you to believe.
2) If you're like me and want to get into wholesaling before progressing into rehabbing, sure it's good to take that time to learn to evaluate repairs and ARVs ect, but depending on your situation, it may behoove of you to invest some time in early on planning on how you're going to secure funding. Skip the wholesaling phase if you can, the market is saturated enough with wholesalers.
The support I've received from my friends here at BP has been instrumental in this journey for me and going forward I hope to increase my contributions and add to the community.
What's next for Jordan: "The world chico, and everything in it." #NameThatReference