19 y/o investing on RE and getting licensed any advice/help?

19 y/o investing on RE and getting licensed any advice/help?

Wholesaler · Ft worth · Member since 2019 · 9 posts · 2 votes

Firstly I would like to start out by saying I’m Julio Lopez and basically a newbie to RE I’m very familiar with Bp and the podcasts which I listen to regularly on a daily basis, right now I’m taking the time on educating myself and becoming more knowledgeable on RE and the different type of ways and strategies you can invest in the market. To dive right into It here’s my current game plan and would like to ask for y’all’s opinion and advice on my current situation as I am here to learn from all of y’all that are super successful and knowledgeable in this area of field and are like minded as I am.

I just recently finished my first year of college studying business management and I'm located in the DFW area in Texas. I recently read the book "Rich sad poor dad" and It changed my whole perspective on what I want to do in life and that is to be financially free as soon as I can accomplish It, my goal I'm shooting for is 22-25. I'm on the verge on taking this opportunity to work as a full time commercial electrician with my grandpa and so I plan on saving my money for about 1-2 years and in the mean time work towards getting my RE license and building my credit up to the 740+ range to obtain the best interest rates on loans and deals. I have yet to see what I want to do specifically with my RE license but I know obtaining It will make me more knowledgeable on RE. By doing all of these things I will be dropping out of college due to the fact I will need to be working full time to save my money and invest in RE and fully commit to my dream. I will be attending my first local event in my area this week so I can learn from others that are more experienced and have been in the game. I'm really looking for a mentor that will guide and help me on my journey. I feel like the best way for me to get into the game would be to wholesale so I can accumulate my profits in those 1-2 years that I would be working and then invest into a duplex-triplex or maybe even quadplex and house-hack. Another strategy I was thinking was even doing the "BRRRR" method I'm not fully decided yet and totally open to hear the other possible options to make this game plan of mine more effective. I don't come from a family from a lot of money quite frankly it's the opposite we have no money and struggle financially my ultimate goal is to help my mom out and bring wealth into my family as she has sacrificed so much for me to have this opportunity to have all the tools to accomplish this dream of mine. I forgot to mention I currently have around 5,000-7,000 in student loan debt. What do you guys think I should do as far as my game plan? and any advice you would give your

19 y/o self or even what would you do differently on this decision of mine? Any input or comments would really help me out and could even change my life. If you stuck around and read my whole post I greatly appreciate you, as time is the most valuable thing someone can give in this world. I would love to meet up and network if you’re in the DFW area I have some quality contractor connections you might be needing for that property of your’s, let’s help each-other out!

Thank you.

2Reply
19 views

Most Popular Reply

Real Estate Consultant · Fayetteville, NC · Member since 2017 · 151 posts · 144 votes
7y

Hey Julio,

First, congrats on getting started in your RE journey. I commend you for finding this at a young age. Although I am a firm believer that institutional education is failing us, I want to preface this conversation with the facts that I do have my undergraduate in Business Administration and I am currently working on an MBA at UNC Chappel Hill. I do think there is some value to education, as long as you are not breaking your wallet. So, your decision to back out and focus on making money now is valid in my personal opinion. 

As far as RE license...DO IT! I have preached extensively to investors about the value of getting a license. I have rapidly expanded my portfolio due to my RE license. There are some wonderful agent hacks me and my team have found over the years. If you are looking for a firm or a mentor as a licensed agent, reach out to me via DM and we can talk about different options. 

From the sound of it, your first objective is to build capital and network. Work with your grandpa, get licensed and sell homes, go to investor meetups, and save save save. The networking will expose you to private capital as well. In no time at all, you will be ready. If you raise enough capital quickly you won't need to worry about credit score, you can buy a small home all cash. Down the road, you can then revisit HELOCs or Cash out refi. 

I hope this helps. Let me know if I can be of any assistance in the future.

See this reply in the discussion

10 Replies

Jump to latestLatest
  • Real Estate Consultant · Fayetteville, NC · Member since 2017 · 151 posts · 144 votes
    7y

    Hey Julio,

    First, congrats on getting started in your RE journey. I commend you for finding this at a young age. Although I am a firm believer that institutional education is failing us, I want to preface this conversation with the facts that I do have my undergraduate in Business Administration and I am currently working on an MBA at UNC Chappel Hill. I do think there is some value to education, as long as you are not breaking your wallet. So, your decision to back out and focus on making money now is valid in my personal opinion. 

    As far as RE license...DO IT! I have preached extensively to investors about the value of getting a license. I have rapidly expanded my portfolio due to my RE license. There are some wonderful agent hacks me and my team have found over the years. If you are looking for a firm or a mentor as a licensed agent, reach out to me via DM and we can talk about different options. 

    From the sound of it, your first objective is to build capital and network. Work with your grandpa, get licensed and sell homes, go to investor meetups, and save save save. The networking will expose you to private capital as well. In no time at all, you will be ready. If you raise enough capital quickly you won't need to worry about credit score, you can buy a small home all cash. Down the road, you can then revisit HELOCs or Cash out refi. 

    I hope this helps. Let me know if I can be of any assistance in the future.

  • Rental Property Investor · Glen Rock, NJ · Member since 2015 · 3k+ posts · 2k+ votes
    7y

    @Julio Cesar Lopez

    I give you a lot of credit for starting early! I think you're on the right path. 

    I suggest you read "the richest man in Babylon" to understand how to handle your finances. Definitely do the licence. Aside from that decide how much time you can allocate to working while in college. If you have at least 20-30 hours, let me know, I may be able to connect you with a commercial broker in TX. PM me if you're truly committed. 

  • Fort Bragg, NC · Member since 2019 · 2 posts · 1 vote
    7y

    Hey man... congrats on taking that step to go further in life, and for dreaming of bigger and better opportunities.

    I'm in a similar situation (sort of). I come from a Hispanic background, from Southern California. Also 19 years old. I joined the Army out of high school, learned about Real Estate, and instantly became obsessed. I love every aspect of it. Wife is currently starting the process of getting her RE License. I always had the mentality of wanting to get ahead. My mother and family sacrificed much for me to even be in the place I'm at right now... I owe them the world. That's one of my biggest motivators to even succeed in the first place. 

    Education is never a bad idea... but ultimately it comes down to what works best FOR YOU in your scenario. There are hardly any 19 year-olds out there looking to get ahead financially and invest in their future. You have a good mindset from what I can gather, so you're already that much further ahead of the game.

    I can't offer you much in the name of value, as I'm just getting started as well. Currently, I'm partnering up with family to utilize a HELOC, and my goal is to BRRRR my first property successfully and regain most of the capital we put in. We shall see! It will be a slow, educated process. I'm actually working with @Michael Glaspie's realty group to do this in NC! However, back to my point, I want to move to Texas after my time in the Military, and as we both grow our knowledge and portfolios, perhaps we could do business one day. Doesn't hurt to have a fellow ambitious young dude where I hope to live. So reach out! Let's stay in touch... looking forward to your success!

  • Wholesaler · Ft worth · Member since 2019 · 9 posts · 2 votes
    7y
    Originally posted by @Michael Glaspie:

    Hey Julio,

    First, congrats on getting started in your RE journey. I commend you for finding this at a young age. Although I am a firm believer that institutional education is failing us, I want to preface this conversation with the facts that I do have my undergraduate in Business Administration and I am currently working on an MBA at UNC Chappel Hill. I do think there is some value to education, as long as you are not breaking your wallet. So, your decision to back out and focus on making money now is valid in my personal opinion. 

    As far as RE license...DO IT! I have preached extensively to investors about the value of getting a license. I have rapidly expanded my portfolio due to my RE license. There are some wonderful agent hacks me and my team have found over the years. If you are looking for a firm or a mentor as a licensed agent, reach out to me via DM and we can talk about different options. 

    From the sound of it, your first objective is to build capital and network. Work with your grandpa, get licensed and sell homes, go to investor meetups, and save save save. The networking will expose you to private capital as well. In no time at all, you will be ready. If you raise enough capital quickly you won't need to worry about credit score, you can buy a small home all cash. Down the road, you can then revisit HELOCs or Cash out refi. 

    I hope this helps. Let me know if I can be of any assistance in the future.


    @MichaelGlaspie Thank You!! I appreciate your input and very useful advice and will definitely take that offer on the mentorship once I get licensed. I was recently thinking about raising enough money with grandpa then transitioning on to a wholesaling company that will help me getting licensed as well as having the chance to earn commission, would this be smart?
  • Wholesaler · Ft worth · Member since 2019 · 9 posts · 2 votes
    7y
    Originally posted by @Alina Trigub:

    @Julio Cesar Lopez

    I give you a lot of credit for starting early! I think you're on the right path. 

    I suggest you read "the richest man in Babylon" to understand how to handle your finances. Definitely do the licence. Aside from that decide how much time you can allocate to working while in college. If you have at least 20-30 hours, let me know, I may be able to connect you with a commercial broker in TX. PM me if you're truly committed. 


    @Alina Trigub I appreciate your comment, I will for sure read the book i have quite a list going!! I have sent you a message via DM.
  • Wholesaler · Ft worth · Member since 2019 · 9 posts · 2 votes
    7y
    Originally posted by @Andrew Garcia:

    Hey man... congrats on taking that step to go further in life, and for dreaming of bigger and better opportunities.

    I'm in a similar situation (sort of). I come from a Hispanic background, from Southern California. Also 19 years old. I joined the Army out of high school, learned about Real Estate, and instantly became obsessed. I love every aspect of it. Wife is currently starting the process of getting her RE License. I always had the mentality of wanting to get ahead. My mother and family sacrificed much for me to even be in the place I'm at right now... I owe them the world. That's one of my biggest motivators to even succeed in the first place. 

    Education is never a bad idea... but ultimately it comes down to what works best FOR YOU in your scenario. There are hardly any 19 year-olds out there looking to get ahead financially and invest in their future. You have a good mindset from what I can gather, so you're already that much further ahead of the game.

    I can't offer you much in the name of value, as I'm just getting started as well. Currently, I'm partnering up with family to utilize a HELOC, and my goal is to BRRRR my first property successfully and regain most of the capital we put in. We shall see! It will be a slow, educated process. I'm actually working with @Michael Glaspie's realty group to do this in NC! However, back to my point, I want to move to Texas after my time in the Military, and as we both grow our knowledge and portfolios, perhaps we could do business one day. Doesn't hurt to have a fellow ambitious young dude where I hope to live. So reach out! Let's stay in touch... looking forward to your success!


    @Andrew Garcia Thank you for your comment! Its great seeing other like minded people, i do relate to you so much from being motivated by our mothers to being obsessed with RE. We are on a great path to financial freedom! Want to wish you the best of luck on your RE journey and will definitely like to stay in touch and even meet up once you come down to Texas which btw smart move, very cheap properties and lots of land!
  • Justin KurpiusPro Member
    Rental Property Investor · Member since 2017 · 84 posts · 41 votes
    7y

    @Julio Cesar Lopez. Welcome. It seems u r already 5 steps ahead of your peers given your age.

    First piece of advice: shorten up your post. Jump right into the point. Busy-ness trumps reading.

    Put your head down with BP and stay outside your comfort zone.

    -Justin

  • Specialist · Los Angeles, CA · Member since 2019 · 587 posts · 269 votes
    7y

    @Julio Cesar Lopez Welcome to BP! You definitely have a great head on your shoulders! Let me know if you need any help or guidance along the way! Your not alone in your real estate ambition.

  • San Diego, CA · Member since 2018 · 22 posts · 6 votes
    7y

    Hey Julio! Welcome to BP! I am 20 years old and one thing that we have in common is that we are both fired up about real estate. Feel free to pm me if you ever want to chat with a fellow newbie. Wishing you all the best and I am excited to see where your journey takes you! 

  • Wholesaler · Ft worth · Member since 2019 · 9 posts · 2 votes
    7y

    @Calvin Raab

    Thank you for your comment! I agree, let’s stay in touch and help each other out!

Join the conversationCreate a free account to reply, vote on answers and follow this thread.