Young kid wondering if I am too ambitious to take on this role
York, PA · Member since 2017 · 2 posts · 2 votes
Young kid wondering if I am too ambitious to take on this role
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Real Estate Broker · Daytona Beach · Member since 2016 · 29 posts · 12 votes
9yGiantonio DeFelice I would have to agree with Michael Sato you are not to young to get started in real estate. I wish i would have stared at your age. My advice to you is to find one area in real estate you think you may enjoy and master it, then move on to the next (don't become a jack of all trades and a master of none). Theres is so many roads in which to travel in real estate investing that if you don't take your time and learn you can find yourself making a lot of mistakes. Understand that this game takes patience, resilience, and hard work and if you don't put in the time or stick through the tough times you wont make it. Theres an abundance of information out there find your niche and kill it. Good luck!
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- 9yMichael S.Pro MemberBiggerpockets Support · Las Pinas, Metro Manila · Member since 2015 · 7k+ posts · 1k+ votes
Welcome to BP @Giantonio DeFelice You're not too young to get started. This podcast would be a great motivation for young starters like you https://www.biggerpockets.com/renewsblog/2015/05/28/bp-podcast-124-building-real-estate-empire-at-young-age-with-jered-sturm/
- Real Estate Broker · Daytona Beach · Member since 2016 · 29 posts · 12 votes9yGiantonio DeFelice I would have to agree with Michael Sato you are not to young to get started in real estate. I wish i would have stared at your age. My advice to you is to find one area in real estate you think you may enjoy and master it, then move on to the next (don't become a jack of all trades and a master of none). Theres is so many roads in which to travel in real estate investing that if you don't take your time and learn you can find yourself making a lot of mistakes. Understand that this game takes patience, resilience, and hard work and if you don't put in the time or stick through the tough times you wont make it. Theres an abundance of information out there find your niche and kill it. Good luck!
Welcome to BP @Giantonio DeFelice . I think you need to first wait until your ears dry before making the "next move up" with your money. Don't get me wrong, it is never too early to start learning, but investing requires initial capital, and the young typically don't have much of it. Take an honest inventory of what you know and what your skills are. You are 19 years old: have you really done enough in "stocks and wholesale merchandise" to claim it as "some experience" in those areas? If you are telling us that you have done serious analytical investing, crunching numbers, digging into financial statements and valuing companies with sound principles and then (the hard part) trading with discipline; then you are one of the most competent and disciplined 19 year old I ever did see and you should probably write a book about yourself. If not, then you traded stocks like 99% of retail traders and that is quite another thing, and hardly worth mentioning.
I would suggest you try to earn as much income you can by working a wage, even if not it in the real estate industry. If you happen to be a trust fund baby, earning more than a years worth of fulltime paychecks will help you really understand the time and value of the dollar. And I am not talking about interning at your rich dads office.
Actively investing your own money offers many different paths, and fortunes have been made in every way possible. None of them are a step (or a "move up") above the others. This is not a playstation video game with 36 levels to beat. I don't wanna make you feel bad, but there are several red flags in your post that made me think you needed a reality check.
As for inspiration, that isn't something you can ask for. Inspiration can only be found, and that journey is yours alone. If you ask me, I would say inspiration is overrated. For the investor, inspiration is a start, but discipline is what gets you to the finish line.
While you wait, get some BP alerts set up with the region and area you intend to do real estate in, so you can get an idea of what is going on.
But that is just me and my thoughts. There are better investors on BP, who might have better, and more specific advice on real estate for the young.
- Professional · Carlsbad, CA · Member since 2012 · 12k+ posts · 1k+ votes9y
Welcome to Bigger Pockets. Make sure to listen to the podcasts. They are very informative, and contain ample information. https://www.biggerpockets.com/blogs/
- York, PA · Member since 2017 · 2 posts · 2 votes9y
Thank you @Michael S. for the great feedback. A little bit of background on my situation: I was raised by both parents with very little disposable income but my grandparents and the rest of my family were very well off. I was taught from a very young age by my parents to work very hard for the things you want in life to achieve an end goal. I was also taught by my grandfather, with whom I am very close with, to work very hard but also to invest your hard earned money to have your money work for you. I believe that the mix of these two traits have had the most influence in molding myself into the person I am today.
In response to Alex, I will be in touch when I write that book.
@Giantonio DeFelice make sure mine is signed lol!
But in all seriousness, the Biggerpockets beginner guide will present many ways to invest in RE. Once you pick the areas your most interested in, you can watch the podcasts that relate to that specific area for inspiration. But as I said in previous post, as a noob you will want to know what RE investors are doing in the region you are in to know what is most fruitful. Try not to lose your shirt, it can get cold.
Giantonio DeFelice
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