Ways to prepare for a future in commercial real estate investing

5 Replies

Hey, I am 17 and am very interested in a future in commercial real estate investing. I am currently interning for a friend of mine that owns a real estate investment company and am learning at a very slow pace due to only being there once a week. I am looking for any advice on how to prepare for such a career as a teenager; whether it be books to read, articles, ways to get more experience, or tips on skills and habits to develop. Thanks in advance.

Start with simple residential. Commercial is something to graduate to. My opinion.

Would you recommend starting with SFH's or MFH's? The guy I'm interning for started with a partner and bought a small apartment building.. What's the pros and cons with having a partner?

Sounds like you'd be well served to locate a partner no regardless of whether you go residential or commercial. 

Now, here is my standard response to new investors regarding step one.

The journey always begins with introspection. The first  step is always consider WHY you want to invest. If you don't have a very strong reason to start an entrepreneurial endeavor, you will surely fail early and often and in no time at all you'll quit. When your "WHY" is so big, so strong, so internalized...you will sacrifice almost anything (outside your health and family) and everything to succeed. You will devote every free minute to learning, to developing relational capital and to removing the barriers that are often put in place by long-time friends, co-workers and even family.

There is so much more to investing that reading a book or attending a seminar...it's work, it's time consuming, it's emotional. It's about growing personally and professionally every day.

   

Originally posted by @Guy Gimenez :

Sounds like you'd be well served to locate a partner no regardless of whether you go residential or commercial. 

Now, here is my standard response to new investors regarding step one.

The journey always begins with introspection. The first  step is always consider WHY you want to invest. If you don't have a very strong reason to start an entrepreneurial endeavor, you will surely fail early and often and in no time at all you'll quit. When your "WHY" is so big, so strong, so internalized...you will sacrifice almost anything (outside your health and family) and everything to succeed. You will devote every free minute to learning, to developing relational capital and to removing the barriers that are often put in place by long-time friends, co-workers and even family.

There is so much more to investing that reading a book or attending a seminar...it's work, it's time consuming, it's emotional. It's about growing personally and professionally every day.

 

 As far as I can tell I have entrepreneurship in my genes; I know that sounds naïve though. Every job I've fantasized about as a kid had in one form or another, something to do with entrepreneurship. My first dream was to be a restaurant owner, my next was thinking of ways to become the next Zuckerburg. I'm a very self motivated person, what I've set my mind to I've achieved. I'm a hard worker, and I hate having a boss, especially when I can see ways to do things better than them. Now, I have a lot of respect for my superiors, I'm no rebel, and I especially respect men that have made it on their own. I want to become one of those men. Money obviously matters because I want to be able to support my future family, but that isn't the sole reason I want to become a successful real estate investor. I get a really amazing feeling of self-satisfaction when I work hard and see the results of it and respect is something I want to earn. Real estate is the way I can see myself reaping the results of my work the most, and since I've started getting more experience and reading about it I can't get enough..

Anything else worth knowing?

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