Is it too late to start at 48 years old??

15 Replies

Hello BP’ers, I’m new to BP but not entirely new to REI. I’ve owned rentals and vacation property but lost it all in an ugly divorce. I’m now 48 years old and starting over with not a lot in the bank. I hear a lot of success stories here but most of them are from young folks with MANY years of wealth building ahead of them. I would love to here success stories of folks who started from scratch in their late 40’s - early 50’s.
Originally posted by @Matt Crawley :
Hello BP’ers,

I'm new to BP but not entirely new to REI. I've owned rentals and vacation property but lost it all in an ugly divorce. I'm now 48 years old and starting over with not a lot in the bank. I hear a lot of success stories here but most of them are from young folks with MANY years of wealth building ahead of them. I would love to here success stories of folks who started from scratch in their late 40's - early 50's.

 Welcome to the site Matt. It's definitely a get rich slow business so starting younger is pretty powerful but tons of money can still be made. If you buy right you'll be set up really well come retirement age.

At 48 you still have 20 years before looking to cash out/retire. That is enough time to do whatever you want. Do it not to get rich but rather for the enjoyment. Making a profit is simply the gravy.

Yes , you are too old . You have 1 foot in the grave and the other in a banana peel . You should be looking into nursing homes , and getting one of those buttons around your neck " I have fallen and I cant get up "

I am 56 with a 9 year old and a 12 year old ,  I started those late , I try to buy one rental a year .

Its too late only  when you are pushing up daisys 

Should be even easier the 2nd time

Heck no.  I started at 58.  I do not think I will amass some real estate empire like some on here but I think it will be very worthwhile for 10 - 12 years.

However I am finding it much harder to find deals than when I started.  That may not be the case where you are starting.

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Thank you. I just want to set appropriate expectations. Retirement is a big focus moving forward.

It's too late. Sorry.

Dumb question. It’s always too late.

Hah! I'm 39 and sometimes think that. Maybe we need to have a sub-forum for middle-age and up.

it definitely isn't too late. 

I personally know of four friends who didn't begin their involvement with Real Estate until their late 50s. They were looking for revenue streams in preparation for retirement, so they bought a few turnkey properties and have now established themselves in RE.

While they might be in a slightly different circumstance than you (had more working capital), there are ways around it. 

Take initiative and start looking for properties. The worst thing you can do, if you are seriously interested in getting involved, is to find excuses NOT to take action. You don't want to be here in 10 years making the same post about being 58 and possibly too late to the game.

Originally posted by @Matt Crawley :
Hello BP’ers,

I'm new to BP but not entirely new to REI. I've owned rentals and vacation property but lost it all in an ugly divorce. I'm now 48 years old and starting over with not a lot in the bank. I hear a lot of success stories here but most of them are from young folks with MANY years of wealth building ahead of them. I would love to here success stories of folks who started from scratch in their late 40's - early 50's.

 If you do it right, it's never too late! You might want to look into cash-flow and not appreciation as much. Good luck!

I just started again at 60. In the last 2 years I bought 18 properties with 24 units. 

Even if we lose it all. What else are we going to do? Sit around and drink coffee and watch tv?

@Matt Crawley age is just a number. if you fail or succeed in this business it wont be because of your age. yes time is a factor i.e. compounding, loan pay downs etc but you can circumvent those easily, just adjust your strategy. you can do this and make it work so long as you invest the time and effort into doing the best you can.  

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