My company is working on a blog discussing the best age to start investing in real estate. I have my opinions, but I would love to get some feedback from other Investors and include a round up of your personal stories and thoughts on the matter. Any tips, tricks, advice or "I wish I had known X", would also be greatly appreciated.
Please only reply if you're okay with being quoted or featured in the blog article.
Age is not the right question to be asking in my opinion, knowledge, financial stability, and comfort level with a given strategy are far more important.
I would love to get your thoughts on this and read your article when you're done.
I want to say as early as possible but I think there should be a limit. Enjoy your youth and don't worry about the stress or headaches that come with REI. If you are under the age of 23 I would say not to go for it unless you are totally and completely ready for this huge change in your lifestyle. Once you are more established and mature, I would say shoot for the stars. I got in around age 24, now 25, and I think that this is an ideal age perhaps maybe even a little older at 26. It can set you up nicely for financial freedom and help build an amazing future but I believe it is not worth the cost of your early 20's.
@Jeremy Tallman My biggest regret in real estate is not starting sooner, I was around 30 when I bought my first property but had been considering doing it for a decade at that point. Now as I approach 40 I see clearly that had I started right away I'd probably be living on an island now.
My husband and I bought our first multi at 29, but only after we had bought and sold a condo before then. We both kind of had a revelation about financial independence and retiring early aspirations combined with career changes. The planets aligned for us and the decision of multifamily investment was a nice piece in the puzzle at the perfect time. I don't think age was a key factor for us, but I'm grateful that we shifted our thinking and strategy while we have time to really benefit from the fruits of cash flow and long term appreciation, but I think attitude and financial savvyiness (sp?) is a huge component, as well. Oh, and willingness to take a risk. Risk is a huge one.
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