Anyone started investing in RE at age 35 or later?

Buying & Selling Real Estate
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Anyone started investing in RE at age 35 or later?

Danielle McClelland
Charleston, SC · Member since 2018 · 9 posts · 47 votes
My husband and I discovered BP this summer and are ready to start invest! We have enough capital and are actively searching for deals and running the numbers. It’s exciting! Anyone else got started at or around 35? Tell me about your journey. Our goal is to live off of our RE investments for retirement.
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Art Warshaw
Member since 2018 · 8 posts · 89 votes
7y

Started seriously investing at age 43. Now at 61 I have 112 rental units and a mid 7 figure net worth as a result

69Reply
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  • Dennis Dahlberg
    Phoenix, AZ · Member since 2017 · 93 posts · 105 votes
    7y

    I'm 65 and still going.  

    36Reply
  • Russell BrazilBusiness Member
    Moderator
    Real Estate Agent · Washington, D.C. · Member since 2012 · 17k+ posts · 30k+ votes
    7y

    My mother didnt start investing until she was about 50.  We've started selling off her units, but a couple years ago she was sitting around 15 units in her mid sixties.

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    44Reply
  • Danielle McClelland
    OP
    Charleston, SC · Member since 2018 · 9 posts · 47 votes
    7y
    @Russell Brazil that is reassuring to hear.
    5Reply
  • Angela Smith
    Member since 2018 · 161 posts · 152 votes
    7y

    Started in my late 40's

    15Reply
  • Dustin Beam
    Kansas City, MO · Member since 2015 · 609 posts · 321 votes
    7y

    I think I just turned 36 when I started. I'm 38 now, so about 2.5 years ago. 

    Goal #1 for me is to "retire" in my early 40s. Hopefully things go well, but I think I'm on track. Hoping to reduce my W2 hours next year. 

    Good luck with your investing! I'm not sure there's ever a bad age to invest, assuming the person is getting a good deal and they aren't over extending. 

    27Reply
  • David O.
    Investor · Leawood & Manhattan, KS · Member since 2017 · 41 posts · 56 votes
    7y

    I started at 50. Wish I had started sooner.

    31Reply
  • Kevin Barnard
    Rental Property Investor · Los Angeles · Member since 2018 · 45 posts · 50 votes
    7y
    I purchase my first duplex around 30. I didn't have any aspirations to be an investor for say just needed an affordable way to purchase a home in Southern California. I got an email not too long ago from Zillow it said my home was worth a lot more than I bought it for. my mortgage has a very attractive fixed rate so I didn't want to refinance my house so I started looking into other ways to utilize the equity to invest. Upon researching this I stumbled upon BiggerPockets I've sent watched thousands of webinars and podcast and read a few books in the few months that I've known about BiggerPockets. I'm currently in escrow on a Triplex across the country. Hoping to end 2018 with 5 doors and get at least 5 more next year. I'm about half a year from being 35 myself. I'm securing my equity line of credit this week and hopefully we'll be putting it towards investing this coming year if not sooner.
    34Reply
  • Todd Powell
    Rental Property Investor · Corvallis, OR · Member since 2018 · 840 posts · 1k+ votes
    7y

    @Danielle McClelland I started at 35 exactly as investor. Mind you, I bought my first house at 24 and by 30 we were on our third house that we built. But, at 35 I started my first flip, and some 20 something flips later, we saved enough to buy into a 72 unit campus property with a partner (we have the minority part of the LLC), and we also have multiple buy and hold properties; one house, four 4 plexes, and ownership 50/50 in a 5 plex and 8 plex with our son and daughter in law. It's a to establish that base of credit and W2 to get started, but don not let fear hold you back. Also, most of our deals we have acquired through off market deals, not chasing the multiple offers through the MLS. Take the first step!

    29Reply
  • Art Warshaw
    Member since 2018 · 8 posts · 89 votes
    7y

    Started seriously investing at age 43. Now at 61 I have 112 rental units and a mid 7 figure net worth as a result

    69Reply
  • Account Closed
    Rental Property Investor · Brooklyn NY · Member since 2018 · 263 posts · 469 votes
    7y

    34 now.  

    One property under my belt.  Working on property number two by age 35.  

    32Reply
  • Mark S.
    Real Estate Investor · Saint Paul, MN · Member since 2017 · 543 posts · 474 votes
    7y
    I started in late 50’s as a side line. A few flips and a few rentals. Then got my GC licence and started slowly building. As others stated, I with I had started sooner but was too busy raising kids and climbing the corporate ladder. But those were good things too- especially the kids!
    16Reply
  • Steve K.
    Honolulu, HI · Member since 2017 · 247 posts · 315 votes
    7y

    started at 45, used self-directed ROTH-IRA to buy 5 turnkey properties (all cash) summer 2012

    was just about to start looking at buying another property with the rental proceeds at the end of 2015, when I heard about syndication

    bought into an office park, then a multi-family, then a parcel of raw land in wine country, and recently a self-storage place

    all with my rental proceeds and IRA contributions

    looking at mobile home parks for my next investment, hopefully soon

    aloha

    steve

    25Reply
  • Brenda Birhiray
    Rental Property Investor · Corona, CA · Member since 2018 · 15 posts · 44 votes
    7y
    @Danielle McClelland I am 42. Just made my first deal last week. Feeling excited about the future. My goal is to have 20+ rentals by age 50
    34Reply
  • Heather Schmidtknecht
    Rental Property Investor · Winona, MN · Member since 2018 · 87 posts · 90 votes
    7y
    @Danielle McClelland I’ll be 47 in a couple of weeks and just closed on my first deal six weeks ago. I plan to continue working my FT job, as I slowly build a modest RE portfolio to diversify my retirement.
    23Reply
  • Erik Jenkins
    Member since 2018 · 9 posts · 19 votes
    7y

    Just started about 6 months ago at 37. Have a fourplex, closing on another fourplex in 4 weeks, and closing on an sfh in a few weeks.

    14Reply
  • Erik B.
    Rental Property Investor · Amityville, NY · Member since 2018 · 351 posts · 441 votes
    7y
    Will be 40 in spring. Found bigger pockets a few months back and have been listening to podcasts and webinars like mad. Have successfully flipped one property and eagerly looking for another. I set a goal to have 5 cash flowing single family homes by 45. Wish I had started much sooner but glad to have started.
    14Reply
  • Joe H.
    Investor · Albuquerque, NM · Member since 2016 · 25 posts · 18 votes
    7y
    @Danielle McClelland I wanted to start earlier but I didn't have the cash or income. At 35 I bought 2 fourplexes.
    4Reply
  • Anna Gorres
    Minneapolis, MN · Member since 2015 · 25 posts · 33 votes
    7y
    @Danielle McClelland I turn 39 next month and am still looking for my first deal. I went back to school 9 years ago to obtain my first BS degree (interior design). I am currently self employed. Financially, I will need to use creative financing and/or do some flips to acquire some cash. I plan to work until retirement (hopefully less than 4o hours/wk), so RE is to supplement my income and my other retirement.
    11Reply
  • Christopher Ryan
    Windham, NH · Member since 2016 · 9 posts · 11 votes
    7y

    I am 40. My wife and I bought a mixed use (4 residential, 1 office) property last year and just closed on a 4 plex last week.  Still learning the ropes (lots to learn).  Really need to figure out how not to buy retail. Had a plan to buy a few more properties before the year end, but the multi-family market seems to be too hot right now, hard to find good value.  I would like to buy 2-3 4 plex sized properties a year (or get in on a bigger multi family).

    7Reply
  • Steve Vaughan
    Rental Property Investor · East Wenatchee, WA · Member since 2014 · 10k+ posts · 16k+ votes
    7y

    I was in my 30s when I started.  You have plenty of time and it's definitely not too late! 

    Unlike those that started in their early 20s, you have a buck or 2 to invest.  

    11Reply
  • JD MartinBusiness Member
    Moderator
    Rock Star Extraordinaire · Northeast, TN · Member since 2015 · 10k+ posts · 16k+ votes
    7y

    My first project was in my 20s, then a hiatus, then a restart at 40. So yes, you can start in your 30s. 

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    6Reply
  • Jabari Long
    Real Estate Broker · Detroit, MI · Member since 2014 · 384 posts · 149 votes
    7y

    @Danielle McClelland My advice is to "Begin with the End in Mind!"  Decide how many hours you want to work, how much cash flow you want a year, and the minimum return you want to earn on your money.  From there select the real estate investment niches that allow you to achieve your goals with the least amount or resistance.

    14Reply
  • Jason D.
    Rental Property Investor · St. Petersburg, FL · Member since 2017 · 3k+ posts · 4k+ votes
    7y
    @Danielle McClelland I started renting out my first personal residence at 36, but didnt consider that as a means of income until about 18 months ago, at the age of 39. I'm currently working on my second BRRRR and plan on 3 - 5 more rentals purchased within the next 12 months
    8Reply
  • Kyle Schlosser
    Specialist · Louisville, KY · Member since 2017 · 166 posts · 154 votes
    7y
    @Art Warshaw Great to hear. I’m 36. Social media paints a picture that everybody is driving a Lamborghini by the time they are 28 and if you aren’t, you’ve failed. I’m just getting ready to start and want to (in a perfect world) have enough cashflow in roughly 10 years to not worry if my employer gets bought out, etc. I think it’s a strong but achievable target.
    8Reply
  • Carson Wilcox
    Davis, CA · Member since 2016 · 595 posts · 344 votes
    7y

    I started at 40, wife is the main breadwinner... I stay at home dad it and was working half time. I used our HELOC for down and rehab $... wife makes $$$$ so I can carry a mortgage on our personal paper...

    Now I am on my 2nd flip....  All I can say is sit down, lay out what you have... where you want to end up.... and STICK with it.  Dont get distracted with all the different methods and BS... 

    Oh you should do notes! You should do BRRRR you should wholesale... do some subject to! Do some land leases, do some assumable rent to own assignable contracts! too much.

    Example...  I sat down, goals are to flip houses, to pay off debt and do some work on my current house. This is where I am now.

    Then continue flipping and use that $ for down and seed $ for MF either in cheaper areas of CA or in the midwest.  20 years of a little cash flow and pay off mortgages... retire with paid off houses.  

    My only allowed detour is that if I find something I can flip to myself with BRRRR I will do that. And remember, the cardinal rule is... the numbers dont care about your emotions... follow the numbers.

    9Reply
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