Starting a Syndication at 21 (NEED ADVICE)
Investor · Boston, MA · Member since 2022 · 39 posts · 17 votes
Starting a Syndication at 21 (NEED ADVICE)
Most Popular Reply
Stuart UdisPro Member
Attorney · Philadelphia · Member since 2018 · 2k+ posts · 3k+ votes@Lorenzo L. Why would someone listen to advice from a 21 year old who has never bought a deal before? They shouldn't !!! Appearing on podcasts, posting content and doing webinars won't qualify you either. Why is there this sudden pressure to syndicate. You are 21, there is no rush.
What ever happened getting a job, perhaps even real estate related if that is an interest or passion. By your own admission you are not interested in sourcing acquisitions or capital raising, so get a job working as a property manager or in operations for a real estate company. Learn the business (and by that I do not mean assist diligence on another GP's deal for free and get awarded "CO-GP status" to run with). Seek out a W2 position working in the industry. Save up some money, buy your first few properties organically and once there's experience and the start of a balance sheet go out and raise money from friends and family if you are still interested in the business. Do right by them and word spreads, momentum is built and eventually you are raising money from PE firms, family offices etc. if you care to grow beyond your personal network's means. That's how this business used to operate for those who cared to scale beyond a passive endeavor.
Now syndications have become a team sport intended to mislead. If duties were merely split between operations, capital raising and deal sourcing based on individuals strength and to spread responsibilities, I would be more understanding but that's not the new age model. Now a 21 year who have never owned real estate is being told jumping into syndicating is a good idea. As Charles even noted, If you do a good job with building sponsor relationships, then you can probably get to the point that they'll allow you to use their track record. This goes a long way when you're trying to find deals or to attract capital because nobody really wants to be anybody's "first" in this business. If you have to embellish your credentials to raise money and are actively being taught this is how to syndicate, this should be called out.
Raising capital, appearing on podcasts, creating misleading social media content & finding deals are now used as tools to create credentials out of thin air. Anyone interested in being an LP in syndications should familiarize themselves with forum threads like this so they can ask the appropriate questions before making investments. I am not part of the PassivePockets community but I hope members are being taught to watch out for these practices.
32 Replies
- Apartment Syndicator · Charleston, SC · Member since 2017 · 519 posts · 631 votes1y
@Lorenzo L. You do bring up some fair points and it's often tough to stand out from the crowd when so many others are doing the same thing. Any deal has three (3) important components: finding deals, finding money, and running deals (this one doesn't matter until you find the first deal and the money to go with it). Aside from educating yourself, the next steps are to honestly assess yourself and see where you best fit into the equation and to build sponsor relationships because these will be very important for you as you start out.
If you determine that you're best suited for the "finding money" part, then the content approach is a good way to get your name out there. While I've done that, it was never my greatest strength. I personally find that appearing as a guest on other people's podcasts helped to get my name out there. You might find that this will help you as well. Aside from using social media and content, make sure to "put yourself in the right rooms with the right people" and don't be afraid to roll your sleeves up with some good networking.
- Investor · Boston, MA · Member since 2022 · 39 posts · 17 votes1y
Quote from @Charles Seaman:
@Lorenzo L. You do bring up some fair points and it's often tough to stand out from the crowd when so many others are doing the same thing. Any deal has three (3) important components: finding deals, finding money, and running deals (this one doesn't matter until you find the first deal and the money to go with it). Aside from educating yourself, the next steps are to honestly assess yourself and see where you best fit into the equation and to build sponsor relationships because these will be very important for you as you start out.
If you determine that you're best suited for the "finding money" part, then the content approach is a good way to get your name out there. While I've done that, it was never my greatest strength. I personally find that appearing as a guest on other people's podcasts helped to get my name out there. You might find that this will help you as well. Aside from using social media and content, make sure to "put yourself in the right rooms with the right people" and don't be afraid to roll your sleeves up with some good networking.
Thank you for the feedback Charles.
Actually, I have been asking myself recently which part of the equation fits me best and I have yet to find it. However, I have noticed I don't really enjoy the finding deals part. I got my license and tried the cold calling thing for months but didn't really enjoy it as I didn't find any pleasusre or sense of progress from it.
I have recently started going to events and realized that I do enjoy talking to people and building relationships but I don't know if im interested in being a capital raiser.
My overall goal is to own a big portfolio whether if its through acquiring or developing. - Apartment Syndicator · Charleston, SC · Member since 2017 · 519 posts · 631 votes1y
You're welcome @Lorenzo L.. You can test that side of it out to see if it's a good fit for you, but take some time to find which side is the right fit for you because that will be a key to achieving long-term success.
Also build as many sponsor relationships as you can in the beginning because that'll give you plenty of options when you find a deal. If you do a good job with building sponsor relationships, then you can probably get to the point that they'll allow you to use their track record. This goes a long way when you're trying to find deals or to attract capital because nobody really wants to be anybody's "first" in this business. Once you have a few deals under your belt, then your track record will speak for itself.
- Investor · Boston, MA · Member since 2022 · 39 posts · 17 votes1y
Quote from @Charles Seaman:
You're welcome @Lorenzo L.. You can test that side of it out to see if it's a good fit for you, but take some time to find which side is the right fit for you because that will be a key to achieving long-term success.
Also build as many sponsor relationships as you can in the beginning because that'll give you plenty of options when you find a deal. If you do a good job with building sponsor relationships, then you can probably get to the point that they'll allow you to use their track record. This goes a long way when you're trying to find deals or to attract capital because nobody really wants to be anybody's "first" in this business. Once you have a few deals under your belt, then your track record will speak for itself.
Thanks Charles.
What I got from you is that, to start, whether its finding the deal or raising the capital, I should do it with an experienced sponsor. I really like this and I will follow it.
One last comment, if I want to focus on finding deals, what are the most efficient/productive ways to find them? is it through cold calling myself, through broker relationships, or a mix of both? - Apartment Syndicator · Charleston, SC · Member since 2017 · 519 posts · 631 votes1y
@Lorenzo L. It depends on the size that you're focusing on. If you're looking for properties less than 50 units, you'll have a lot of success with calling owners directly. If you're looking for properties that are 50 units or larger, you'll generally do better focusing on broker relationships. While there are some deals 50 units or larger that transact without a broker involved, they're definitely few and far between.
- 1yRobby SanchezPro MemberInspector · Austin, TX · Member since 2022 · 109 posts · 40 votes
@Lorenzo L.! I'm in a similar step in my multi family journey currently. Have you listened to the multi family wealth podcast? The host is based out of Boston! That podcast has so many gold nuggets and great advice. As far as finding deals, my plan is to start a mailing campaign and go the wholesaling route. I recently was able to find a great mentor who was willing to mentor me with underwriting amd alot more. My plan is to find him great deals and build up enough capital to invest in my own deals. Keep in touch and let me know what happens! Good luck!
- 1yRobby SanchezPro MemberInspector · Austin, TX · Member since 2022 · 109 posts · 40 votes
Quote from @Robby Sanchez:
@Lorenzo L.! I'm in a similar step in my multi family journey currently. Have you listened to the multi family wealth podcast? The host is based out of Boston! That podcast has so many gold nuggets and great advice. As far as finding deals, my plan is to start a mailing campaign and go the wholesaling route. I recently was able to find a great mentor who was willing to mentor me with underwriting amd alot more. My plan is to find him great deals and build up enough capital to invest in my own deals. Keep in touch and let me know what happens! Good luck!
My mentor is also willing to act as a sponsor for me so that is a huge advantage!
- 1yStuart UdisPro MemberAttorney · Philadelphia · Member since 2018 · 2k+ posts · 3k+ votes
@Lorenzo L. Why would someone listen to advice from a 21 year old who has never bought a deal before? They shouldn't !!! Appearing on podcasts, posting content and doing webinars won't qualify you either. Why is there this sudden pressure to syndicate. You are 21, there is no rush.
What ever happened getting a job, perhaps even real estate related if that is an interest or passion. By your own admission you are not interested in sourcing acquisitions or capital raising, so get a job working as a property manager or in operations for a real estate company. Learn the business (and by that I do not mean assist diligence on another GP's deal for free and get awarded "CO-GP status" to run with). Seek out a W2 position working in the industry. Save up some money, buy your first few properties organically and once there's experience and the start of a balance sheet go out and raise money from friends and family if you are still interested in the business. Do right by them and word spreads, momentum is built and eventually you are raising money from PE firms, family offices etc. if you care to grow beyond your personal network's means. That's how this business used to operate for those who cared to scale beyond a passive endeavor.
Now syndications have become a team sport intended to mislead. If duties were merely split between operations, capital raising and deal sourcing based on individuals strength and to spread responsibilities, I would be more understanding but that's not the new age model. Now a 21 year who have never owned real estate is being told jumping into syndicating is a good idea. As Charles even noted, If you do a good job with building sponsor relationships, then you can probably get to the point that they'll allow you to use their track record. This goes a long way when you're trying to find deals or to attract capital because nobody really wants to be anybody's "first" in this business. If you have to embellish your credentials to raise money and are actively being taught this is how to syndicate, this should be called out.Raising capital, appearing on podcasts, creating misleading social media content & finding deals are now used as tools to create credentials out of thin air. Anyone interested in being an LP in syndications should familiarize themselves with forum threads like this so they can ask the appropriate questions before making investments. I am not part of the PassivePockets community but I hope members are being taught to watch out for these practices.
- 1yNicholas L.Pro MemberFlipper/Rehabber · Pittsburgh · Member since 2018 · 6k+ posts · 5k+ votes
yep.
alternate plan:
house hack. make it as inconvenient as possible for yourself. buy a small multi and rent out all of the other units. then rent out all of the bedrooms in your unit and sleep on the couch. see, for example, what this guy did.
What I learned after 1 year of house hacking
live there for a few years and save up all the money you can. make some cosmetic improvements to the place while you're there. then: repeat.you're 21. do this just a handful of times and by the time you're 30, you'll have a larger portfolio of rental properties than the vast majority of people.
hope this helps.
- Investor · VA · Member since 2015 · 21k+ posts · 19k+ votes1y
@Lorenzo Lopez
Experience
Change the word multifamily to flying a plane in your paragraph and go around and ask people who travel their thoughts?
You will get the same reaction from experienced real estate investors. At 21 brutal truth is people will say oh that’s cool you are tryin this but not take you serious.
7e investments53 Reviews - 1yJoe S.Pro MemberInvestor · San Antonio · Member since 2020 · 3k+ posts · 3k+ votesI had similar thoughts, but with one immediate cheerleader telling the OP to go on podcast I thought I’d just keep my trapshut. (With your stellar reply, you gave me courage. lol)
Quote from @Stuart Udis:
@Lorenzo L. Why would someone listen to advice from a 21 year old who has never bought a deal before? They shouldn't !!! Appearing on podcasts, posting content and doing webinars won't qualify you either. Why is there this sudden pressure to syndicate. You are 21, there is no rush.
What ever happened getting a job, perhaps even real estate related if that is an interest or passion. By your own admission you are not interested in sourcing acquisitions or capital raising, so get a job working as a property manager or in operations for a real estate company. Learn the business (and by that I do not mean assist diligence on another GP's deal for free and get awarded "CO-GP status" to run with). Seek out a W2 position working in the industry. Save up some money, buy your first few properties organically and once there's experience and the start of a balance sheet go out and raise money from friends and family if you are still interested in the business. Do right by them and word spreads, momentum is built and eventually you are raising money from PE firms, family offices etc. if you care to grow beyond your personal network's means. That's how this business used to operate for those who cared to scale beyond a passive endeavor.
Now syndications have become a team sport intended to mislead. If duties were merely split between operations, capital raising and deal sourcing based on individuals strength and to spread responsibilities, I would be more understanding but that's not the new age model. Now a 21 year who have never owned real estate is being told jumping into syndicating is a good idea. As Charles even noted, If you do a good job with building sponsor relationships, then you can probably get to the point that they'll allow you to use their track record. This goes a long way when you're trying to find deals or to attract capital because nobody really wants to be anybody's "first" in this business. If you have to embellish your credentials to raise money and are actively being taught this is how to syndicate, this should be called out.Raising capital, appearing on podcasts, creating misleading social media content & finding deals are now used as tools to create credentials out of thin air. Anyone interested in being an LP in syndications should familiarize themselves with forum threads like this so they can ask the appropriate questions before making investments. I am not part of the PassivePockets community but I hope members are being taught to watch out for these practices.
You did a good job of writing a reply that was more realistic than simply cheerleading somebody to push themselves forward to being a guest on podcast faking it till you can make it.
- 1yDon KonipolBusiness MemberInvestor · The Woodlands TX / Avon, CT · Member since 2009 · 6k+ posts · 10k+ votesThere are two ways to prepare yourself to be success in real property syndication.
Quote from @Lorenzo L.:
Hello all,
I'm looking to buy medium to large-scale value-add multifamily using OPM.
I am wondering if my first steps (past the education part) is to build a network of people who know, like, and trust me through posting content like newsletters, articles, podcasts, doing webinars, going to events (aka build my brand), or, should I first find a deal and then raise capital?
The reason why I ask is because I'm sure some people are going to say it is critical to first build a network but I find myself doubting myself because why would someone listen to advice from a 21 year old who has never bought a deal before? Also, I am connected with a lot of sophisticated investors on Linkedin and I don't want to lose their respect because I am starting to post educational content when I have never done any transactions.
What do you guys think? Am I overthinking?
1. Go to work for a real estate syndicator, REIT, or institutional real estate investor. Rise up the ranks to a c suite position. This can be made easier with a Masters in Real Estate or Finance, or an MBA. Studying for and receiving the CCIM designation will be a solid plus. Networking in various real estate associations to develop DEEP relationships is part of this program.
2. The second path is to become successful in real estate investing on your own beginning on a small scale. When you have a VERIFIABLE record of success within specific property types - and typically specific geographical areas, you MAY be able to attract enough passive investment to begin syndicating smaller type deals.
There ARE people able to create enough hype, misdirection, and lies to successfully conduct a “Capital raise” without possessing the experience, education, knowledge and analytical ability necessary to have a fair shot at success. It seems these inevitably run into problems as the investment projections are not met, loses begin to pile up, SEC compliance issues are ignored, and numerous legal actions are instituted against the sponsor. - Investor · Boston, MA · Member since 2022 · 39 posts · 17 votes1y
@Don Konipol @Joe S. @V.G Jason @Chris Seveney @Nicholas L. @Stuart Udis @Robby Sanchez @Nick B. @Charles Seaman
Thank you all for the feedback! I truly appreciate it.
I want to reword my thoughts:
I now know I can't just raise millions of dollars because I want to. I need credibility, either through working for a couple of years for a company or buying my own property, starting small, and scaling with time.
Now, my plan is to graduate next year (Im a junior), and get a job in a firm as an analyst in order to build that experience and mainly cover my living expenses, while on the side buy my first small property and go from there.
However, and this is where I start overthinking, I still have 1 year left in school and I want to use it to my advantage as I don't have any expenses or responsibilities other than school yet, and I want to do my first deal. Now, I am currently interning with a boutique developer in Boston focused on multifamily and my plan is to not only learn from them but also try and do my first deal in partnership with them. So i'll either find the deal or find the money.
What do you guys think of this?
Am I rushing too much? The thing is I've been learning about real estate for almost 2 years and still haven't bought my first property and it's driving me insane . And I understand that i am college kid with no money or experience but then you see people like Rob Beardsley who dropped out at 20 and bought a 200 unit property through syndication and then you think, hm, maybe its possible. - 1yV.G JasonPro MemberInvestor · Member since 2022 · 3k+ posts · 3k+ votes
Quote from @Lorenzo L.:
@Don Konipol @Joe S. @V.G Jason @Chris Seveney @Nicholas L. @Stuart Udis @Robby Sanchez @Nick B. @Charles Seaman
Thank you all for the feedback! I truly appreciate it.
I want to reword my thoughts:
I now know I can't just raise millions of dollars because I want to. I need credibility, either through working for a couple of years for a company or buying my own property, starting small, and scaling with time.
Now, my plan is to graduate next year (Im a junior), and get a job in a firm as an analyst in order to build that experience and mainly cover my living expenses, while on the side buy my first small property and go from there.
However, and this is where I start overthinking, I still have 1 year left in school and I want to use it to my advantage as I don't have any expenses or responsibilities other than school yet, and I want to do my first deal. Now, I am currently interning with a boutique developer in Boston focused on multifamily and my plan is to not only learn from them but also try and do my first deal in partnership with them. So i'll either find the deal or find the money.
What do you guys think of this?
Am I rushing too much? The thing is I've been learning about real estate for almost 2 years and still haven't bought my first property and it's driving me insane . And I understand that i am college kid with no money or experience but then you see people like Rob Beardsley who dropped out at 20 and bought a 200 unit property through syndication and then you think, hm, maybe its possible.Who the **** is Rob Beardsley? For every Rob Beardsley there's 1000s of flops, and for all I know he may be one.
You have people on this board bigger and better than Rob Beardsley. Quit comparing yourself.
Two thoughts, I'm sure you heard of the first:
1) Comparison is the thief of joy
2) Fast solutions have slow problems
You go as fast as slow as you can. It's a simple as that. The answer to my question is you find the deal.I can refute your reputation, I can refute you who you fundraise from, I cannot refute a truly quality deal. However, I can refute your ability to manage a truly quality deal, in essence your experience or lack thereof.
You need to iron your deficiencies to manage a great deal. Do you know what they are? Cause ****, I don't think you do. You don't know what you don't know. I need to evaluate you on how you failed when you failed, and if you haven't failed yet have a quality deal I need to evaluate your ability to manage risk, headwinds and blind spots. Do you know what they are?
So you need some tangible experience + very quality deal + communication skills to present to the investors. Then the money comes.
- Apartment Syndicator · Charleston, SC · Member since 2017 · 519 posts · 631 votes1y
@Lorenzo L. That's a solid plan. Learn as much as you can from the developer in the role you're in and aim to be an asset to them so that you get more opportunities to learn and grow. Prior to syndicating deals, I worked for a commercial real estate investor in NYC for 14 years and gained a lot of knowledge and practical experience while in that role. Without that experience, I probably never would've went into syndication.
- 1yRobby SanchezPro MemberInspector · Austin, TX · Member since 2022 · 109 posts · 40 votesIt's definitely hard to not compare yourself to the others. I've been there. I'd be lying if I told you I don't anymore. But only you know the amount of effort you're putting in. As long as you're following your passion and taking action then you're heading down the right path. I decided to get liscenced as a home inspector and utilize my knowledge in building science so I can add value to others but also so that I could immerse myself in the real estate industry and show investors that I am taking this seriously. I started with a SF, moved up to a duplex and now I'm planning to go bigger. Throughout my journey I've come to terms with the fact that this is going to take many years of failures before I will be able to see a little bit of reward. But it's all worth it for me. As long as I can help others and do what I love and learn ad much as possible otw to my goals then I'll be happy even if I don't reach my goal. For me, it's about who I help, who I become and what I learn along the way.
Quote from @Lorenzo L.:
@Don Konipol @Joe S. @V.G Jason @Chris Seveney @Nicholas L. @Stuart Udis @Robby Sanchez @Nick B. @Charles Seaman
Thank you all for the feedback! I truly appreciate it.
I want to reword my thoughts:
I now know I can't just raise millions of dollars because I want to. I need credibility, either through working for a couple of years for a company or buying my own property, starting small, and scaling with time.
Now, my plan is to graduate next year (Im a junior), and get a job in a firm as an analyst in order to build that experience and mainly cover my living expenses, while on the side buy my first small property and go from there.
However, and this is where I start overthinking, I still have 1 year left in school and I want to use it to my advantage as I don't have any expenses or responsibilities other than school yet, and I want to do my first deal. Now, I am currently interning with a boutique developer in Boston focused on multifamily and my plan is to not only learn from them but also try and do my first deal in partnership with them. So i'll either find the deal or find the money.
What do you guys think of this?
Am I rushing too much? The thing is I've been learning about real estate for almost 2 years and still haven't bought my first property and it's driving me insane . And I understand that i am college kid with no money or experience but then you see people like Rob Beardsley who dropped out at 20 and bought a 200 unit property through syndication and then you think, hm, maybe its possible. - 1yBasit SiddiqiBusiness MemberAccountant · New York, NY · Member since 2015 · 8k+ posts · 3k+ votes
There are three items required to make a successful partnership - Time, Experience, Capital.
If you are a syndicator, you are likely expected to have time and experience.
There is a lot that goes into being a competent syndicator - Proper communications, finding a good deal, communicating quarterly updates, networking with lenders, contractors, PM companies.
You can gain experience by doing your own deals or working for someone who does(Ideally both).
I personally think you should cement your experience before worrying about OPM.
Best of luck
Basit Siddiqi CPA4.979 Reviews - Member since 2024 · 2 posts · 2 votes1y
Quote from @Lorenzo L.:
@Don Konipol @Joe S. @V.G Jason @Chris Seveney @Nicholas L. @Stuart Udis @Robby Sanchez @Nick B. @Charles Seaman
Thank you all for the feedback! I truly appreciate it.
I want to reword my thoughts:
I now know I can't just raise millions of dollars because I want to. I need credibility, either through working for a couple of years for a company or buying my own property, starting small, and scaling with time.
Now, my plan is to graduate next year (Im a junior), and get a job in a firm as an analyst in order to build that experience and mainly cover my living expenses, while on the side buy my first small property and go from there.
However, and this is where I start overthinking, I still have 1 year left in school and I want to use it to my advantage as I don't have any expenses or responsibilities other than school yet, and I want to do my first deal. Now, I am currently interning with a boutique developer in Boston focused on multifamily and my plan is to not only learn from them but also try and do my first deal in partnership with them. So i'll either find the deal or find the money.
What do you guys think of this?
Am I rushing too much? The thing is I've been learning about real estate for almost 2 years and still haven't bought my first property and it's driving me insane . And I understand that i am college kid with no money or experience but then you see people like Rob Beardsley who dropped out at 20 and bought a 200 unit property through syndication and then you think, hm, maybe its possible.I am fairly new to the real estate investment and what I have learned so far is choosing a mentor and attend real estate workshops then expand your network which will help you to pick up the pace, select your investment strategy and grasp the business model. It is all about networking and hands on experience which will lead you to close your first deal. Regarding Rob Beardsley he grew up in Silicon Valley and learned about real estate and tech from his parents, who ran a real estate brokerage firm from home, thus he had a built-in mentors and good networking to start with in addition to the capital that his parents have preserved for him so he got a good jump start. Wishing you the best of luck with your new venture.
- 1yJoe S.Pro MemberInvestor · San Antonio · Member since 2020 · 3k+ posts · 3k+ votes
Quote from @Robby Sanchez:
It's definitely hard to not compare yourself to the others. I've been there. I'd be lying if I told you I don't anymore. But only you know the amount of effort you're putting in. As long as you're following your passion and taking action then you're heading down the right path. I decided to get liscenced as a home inspector and utilize my knowledge in building science so I can add value to others but also so that I could immerse myself in the real estate industry and show investors that I am taking this seriously. I started with a SF, moved up to a duplex and now I'm planning to go bigger. Throughout my journey I've come to terms with the fact that this is going to take many years of failures before I will be able to see a little bit of reward. But it's all worth it for me. As long as I can help others and do what I love and learn ad much as possible otw to my goals then I'll be happy even if I don't reach my goal. For me, it's about who I help, who I become and what I learn along the way.Quote from @Lorenzo L.:
@Don Konipol @Joe S. @V.G Jason @Chris Seveney @Nicholas L. @Stuart Udis @Robby Sanchez @Nick B. @Charles Seaman
Thank you all for the feedback! I truly appreciate it.
I want to reword my thoughts:
I now know I can't just raise millions of dollars because I want to. I need credibility, either through working for a couple of years for a company or buying my own property, starting small, and scaling with time.
Now, my plan is to graduate next year (Im a junior), and get a job in a firm as an analyst in order to build that experience and mainly cover my living expenses, while on the side buy my first small property and go from there.
However, and this is where I start overthinking, I still have 1 year left in school and I want to use it to my advantage as I don't have any expenses or responsibilities other than school yet, and I want to do my first deal. Now, I am currently interning with a boutique developer in Boston focused on multifamily and my plan is to not only learn from them but also try and do my first deal in partnership with them. So i'll either find the deal or find the money.
What do you guys think of this?
Am I rushing too much? The thing is I've been learning about real estate for almost 2 years and still haven't bought my first property and it's driving me insane . And I understand that i am college kid with no money or experience but then you see people like Rob Beardsley who dropped out at 20 and bought a 200 unit property through syndication and then you think, hm, maybe its possible.How long did it take for you to become a licensed inspector?
I considered encouraging my son to do that. - 1yRobby SanchezPro MemberInspector · Austin, TX · Member since 2022 · 109 posts · 40 votes
Quote from @Joe S.:
Quote from @Robby Sanchez:
It's definitely hard to not compare yourself to the others. I've been there. I'd be lying if I told you I don't anymore. But only you know the amount of effort you're putting in. As long as you're following your passion and taking action then you're heading down the right path. I decided to get liscenced as a home inspector and utilize my knowledge in building science so I can add value to others but also so that I could immerse myself in the real estate industry and show investors that I am taking this seriously. I started with a SF, moved up to a duplex and now I'm planning to go bigger. Throughout my journey I've come to terms with the fact that this is going to take many years of failures before I will be able to see a little bit of reward. But it's all worth it for me. As long as I can help others and do what I love and learn ad much as possible otw to my goals then I'll be happy even if I don't reach my goal. For me, it's about who I help, who I become and what I learn along the way.Quote from @Lorenzo L.:
@Don Konipol @Joe S. @V.G Jason @Chris Seveney @Nicholas L. @Stuart Udis @Robby Sanchez @Nick B. @Charles Seaman
Thank you all for the feedback! I truly appreciate it.
I want to reword my thoughts:
I now know I can't just raise millions of dollars because I want to. I need credibility, either through working for a couple of years for a company or buying my own property, starting small, and scaling with time.
Now, my plan is to graduate next year (Im a junior), and get a job in a firm as an analyst in order to build that experience and mainly cover my living expenses, while on the side buy my first small property and go from there.
However, and this is where I start overthinking, I still have 1 year left in school and I want to use it to my advantage as I don't have any expenses or responsibilities other than school yet, and I want to do my first deal. Now, I am currently interning with a boutique developer in Boston focused on multifamily and my plan is to not only learn from them but also try and do my first deal in partnership with them. So i'll either find the deal or find the money.
What do you guys think of this?
Am I rushing too much? The thing is I've been learning about real estate for almost 2 years and still haven't bought my first property and it's driving me insane . And I understand that i am college kid with no money or experience but then you see people like Rob Beardsley who dropped out at 20 and bought a 200 unit property through syndication and then you think, hm, maybe its possible.How long did it take for you to become a licensed inspector?
I considered encouraging my son to do that.Took me about a year. But the classes are at your own pace and some states don't require a liscence.
- 1yRobby SanchezPro MemberInspector · Austin, TX · Member since 2022 · 109 posts · 40 votesLet me know if you have any other questions. I'd be happy to help you out!
Quote from @Robby Sanchez:
Quote from @Joe S.:
Quote from @Robby Sanchez:
It's definitely hard to not compare yourself to the others. I've been there. I'd be lying if I told you I don't anymore. But only you know the amount of effort you're putting in. As long as you're following your passion and taking action then you're heading down the right path. I decided to get liscenced as a home inspector and utilize my knowledge in building science so I can add value to others but also so that I could immerse myself in the real estate industry and show investors that I am taking this seriously. I started with a SF, moved up to a duplex and now I'm planning to go bigger. Throughout my journey I've come to terms with the fact that this is going to take many years of failures before I will be able to see a little bit of reward. But it's all worth it for me. As long as I can help others and do what I love and learn ad much as possible otw to my goals then I'll be happy even if I don't reach my goal. For me, it's about who I help, who I become and what I learn along the way.Quote from @Lorenzo L.:
@Don Konipol @Joe S. @V.G Jason @Chris Seveney @Nicholas L. @Stuart Udis @Robby Sanchez @Nick B. @Charles Seaman
Thank you all for the feedback! I truly appreciate it.
I want to reword my thoughts:
I now know I can't just raise millions of dollars because I want to. I need credibility, either through working for a couple of years for a company or buying my own property, starting small, and scaling with time.
Now, my plan is to graduate next year (Im a junior), and get a job in a firm as an analyst in order to build that experience and mainly cover my living expenses, while on the side buy my first small property and go from there.
However, and this is where I start overthinking, I still have 1 year left in school and I want to use it to my advantage as I don't have any expenses or responsibilities other than school yet, and I want to do my first deal. Now, I am currently interning with a boutique developer in Boston focused on multifamily and my plan is to not only learn from them but also try and do my first deal in partnership with them. So i'll either find the deal or find the money.
What do you guys think of this?
Am I rushing too much? The thing is I've been learning about real estate for almost 2 years and still haven't bought my first property and it's driving me insane . And I understand that i am college kid with no money or experience but then you see people like Rob Beardsley who dropped out at 20 and bought a 200 unit property through syndication and then you think, hm, maybe its possible.How long did it take for you to become a licensed inspector?
I considered encouraging my son to do that.Took me about a year. But the classes are at your own pace and some states don't require a liscence.
- Rental Property Investor · Boston, MA · Member since 2019 · 2k+ posts · 1k+ votes1y
Go in alone. Save up enough $ for a house hack.
- Rental Property Investor · Boston, MA · Member since 2019 · 2k+ posts · 1k+ votes1y
Buy a 4 family. ALONE. live in 1 unit and rent out the others. rinse and repeat. get wealthy. live generously.
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