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Buying & Selling Real Estate

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Eric V.
  • Rental Property Investor
  • Red Bank, NJ
8
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17
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How old were you when you bought your 1st Investment Property?

Eric V.
  • Rental Property Investor
  • Red Bank, NJ
Posted Jun 9 2018, 12:14

OK just curious here, how many guys/girls start super early or late. I bought my 1st at 16 (my grandfather put 95% in, i put in all my "paper route money" and everything else saved, about $3000 in 1983. Still own that house today.  

purchased 35,000 

reno 40,000

all in $75,000 (in 1983)

After a bunch of upgrades including for a 2nd time new kitchen,baths,hardwood, roof, landscape, etc. 

Rental now $2,500

Value 500,000ish

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Caleb Heimsoth
  • Rental Property Investor
  • Durham, NC
7,850
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7,695
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Caleb Heimsoth
  • Rental Property Investor
  • Durham, NC
Replied Jun 9 2018, 12:17

I was 22, my own money

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675
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542
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Jeffrey Holst
Pro Member
  • Investor
  • Chattanooga, TN
542
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675
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Jeffrey Holst
Pro Member
  • Investor
  • Chattanooga, TN
Replied Jun 9 2018, 13:25
I was about 32 and I partnered 50/50 with a friend in an all cash deal. We paid 30k for a nice condo that we still own and rent for around 950 a month. I am 40 now so this was about 7/8 years ago. Its probably worth 80/90k now.
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User Stats

17
Posts
8
Votes
Eric V.
  • Rental Property Investor
  • Red Bank, NJ
8
Votes |
17
Posts
Eric V.
  • Rental Property Investor
  • Red Bank, NJ
Replied Jun 11 2018, 08:17

Thanks, Thought there would be a bunch of "Early" starters, as well as many who got a "Late" start.

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0
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Puthy Pan
  • Investor
  • Seattle, WA
0
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8
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Puthy Pan
  • Investor
  • Seattle, WA
Replied Jun 11 2018, 08:22

My first was at 21 with $10k that I saved.  Held it for 2 yrs and sold it for a down payment on a primary resident.  It taught me the power of rental property and appreciation.  Back in it again at 33 and now my focus is on duplex, triplex or duplex.  

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609
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320
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Dustin Beam
  • Kansas City, MO
320
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609
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Dustin Beam
  • Kansas City, MO
Replied Jun 11 2018, 08:28

35

Wish I could/would have started earlier, but better late than never.