How I Would try to Make My Fortune in Real Estate if I Were 22 Instead of 72

[Don Konipol]

Here’s what I would do as a new, young wanna be real estate “puppy”

1. Obtain broker/salesman licensure - because it makes it easier to collect a fee for putting a deal together and for the basic education taking the course 

2. Supplement that education by obtaining a “diploma, certificate, degree” from a major college 

3. Learn everything possible about property with environmental concerns, especially about problems easily/inexpensively correctable. 

4. SPECIALIZE in properties with easily correctable environmental issues.  When sufficiently knowledgeable and experienced, make VERY VERY LOW offers on these properties.  When able to purchase one for a very low price, spend the relatively small amount necessary to get a “clean” rating, and sell the property for maximum value. 

This will take many offers, and persistence.  In the meantime you become the “expert” in environmental issues property, and earn a good living brokering these deals with referrals coming at you from all directions.  In turn you refer anything else coming your way to specialists in that subcategory.  

At a minimum within 2 years you should be earning $200k + annually from brokerage activities and $250k + annually from “purchase, cure env problem, sell”.  

Within 5 years total net should be $1 million+ annually. 

[Mike Dymski]

Good plan.  This is not for me but it would be for many people...start in the trades and then own a trade business in a few years.  That's six figures compensation and flexibility in a short period of time.