First Deal Success 3 yrs in the making!

First Deal Success 3 yrs in the making!

Real Estate Agent · Atlanta, GA · Member since 2013 · 46 posts · 34 votes

HI Bigger Pockets friends,

My name is Jordan, I'm a 16 yr old Real Estate investor. I joined bigger pockets a couple years ago but my journey in real estate began about 3 years ago. When I first started at 13 years old I read lots of real estate and general business books and went to a reia meeting and found a mentor (who is still my mentor). I attended a few classes and tried to begin my career on my own. After swinging for the fences for 2 years trying to wholesale despite the obvious handicap of my age I realized I would need to change my approach. I found another investor in my market who was just starting out and we decided to put our forces together. He had more capital, credit, and the age (credibility), that I lacked. And I had 2 yrs worth of industry knowledge. Fast forward about 10 months and several marketing campaigns later we've closed our first wholesale deal that netted $8k! I received a lot of understandable and sound advice from experts urging me to wait to begin my career, but I found a way, and so should you!

With one deal under my belt I am by no means and expert, but here is my "word to the wise" to everyone else just getting started.

1) Know what you're getting yourself into, active RE investing with no cash or credit is not nearly as easy as many gurus may lead you to believe.

2) If you're like me and want to get into wholesaling before progressing into rehabbing, sure it's good to take that time to learn to evaluate repairs and ARVs ect, but depending on your situation, it may behoove of you to invest some time in early on planning on how you're going to secure funding. Skip the wholesaling phase if you can, the market is saturated enough with wholesalers.

The support I've received from my friends here at BP has been instrumental in this journey for me and going forward I hope to increase my contributions and add to the community.

What's next for Jordan: "The world chico, and everything in it." #NameThatReference

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Investor · Glendale, AZ · Member since 2015 · 113 posts · 47 votes
11y

Hi Jordan,

Congrats! I love hearing stories like this, I admire your persistence! I started in Real Estate at 13 too and my favorite Bible verse that helped me get through some of the constant "Advice" about me being too young etc was 1 Timothy 4:12 "Don't let anyone look down on you because you are young, but set an example for the believers in speech, in conduct, in love, in faith and in purity." (NIV)

-John

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  • Investor · Katy, TX · Member since 2015 · 27 posts · 4 votes
    11y

    Wow, that is incredibly impressive! I wish I had the knowledge I do now about REI when I was your age. I have 1 rental property, working on flipping a rehab house and aiming to get my second rental property by the end of summer. Though doing what you did at your age is far more impressive!!

  • Investor · Jackson, MS · Member since 2014 · 1k+ posts · 769 votes
    11y

    Congratulations Jordan! Too many young people who want to get rich fast pick the wrong way of doing it. Believe me, the way you're doing is what will put you ahead and keep you ahead. The sad thing is that all the young people who are doing it the wrong way could easily put their  'street smarts' to good, honest business use. There's a book you should read called "How the Poor can save Capitalism." 

    I'm glad you are planning to move into rehabbing property. As you do, think about your workers. Pay them fairly and educate them as to how to handle their own finances and make wise investments to increase their wealth. I endeavor to do this with all my workers and even with my tenants. Pay it Forward and help your community. Capitalism and service are not mutually exclusive. 

    P.S. Don't spend your money on a fancy car, save it for your next house.

  • Investor · Jacksonville, FL · Member since 2014 · 172 posts · 73 votes
    11y

    Wow, man! Great job. I am impressed that you have the dedication, desire to acquire knowledge, focus, persistence necessary to achieve success in REI. Way to go...keep this up and you'll be retired by 33 years old!

  • Real Estate Agent · Atlanta, GA · Member since 2013 · 46 posts · 34 votes
    11y

    Thank you all for your kind and insightful comments, the level of support is almost overwhelming!

  • New to Real Estate · Casa Grande AZ · Member since 2015 · 35 posts · 3 votes
    11y

    Congratulations Jordan!!! Really inspired to make my first investment soon!!! Thanks for the good read!

    @susan manek really good advice!!! I did this mistake! I purchased a nice car a few years back and now I regret it. Never again would I buy a new car. Save money and let money work for you!!!

  • Norfolk, MA · Member since 2015 · 7 posts · 2 votes
    11y

    Congrats @Jordan Robinson! I'm 20 and I thought that was young to be getting into real estate. Keep up the great work!

  • Rental Property Investor · Silver Spring, MD · Member since 2015 · 1 post · 0 votes
    11y

    @Jordan, 

    You have done a great job to this point. At your age and with your energy, your destined for greatness, keep going don't stop.

  • Lender · Pasadena, CA · Member since 2013 · 74 posts · 11 votes
    11y

    I'm glad I don't work in Atlanta, Jordan... I'd hate to be looking over my shoulder and seeing you behind me!

    Seriously, congratulations. I doubt there's anyone on BP that wouldn't have wanted to get started as young as you. Experience and networking compounds just like money does--keep it up, and never let yourself get too comfortable.

    @Susan Maneck's advice is well-put. You have the opportunity to change the world in ways you probably can't imagine right now. We hope you go for it.

    Just leave a few properties for the rest of us, OK? ;-)

  • Investor · Austin, TX · Member since 2012 · 4 posts · 1 vote
    11y

    Wow great start young age keep going you have great potential you learned a lot earlier and have a great head start.  Start of investments at young age is great.  Young folks like you guys are definitely a great motivational stories for the youth.  Great Job keep it going

    Raj

  • Investor · Orlando, FL · Member since 2012 · 822 posts · 303 votes
    11y

    Dude, Great story. You will be killing the game before you know it.

  • Rental Property Investor · Poughkeepsie, NY · Member since 2013 · 262 posts · 96 votes
    11y

     Good for you. 

  • Miami, FL · Member since 2015 · 5 posts · 0 votes
    11y

    congratulations!!! Keep grinding!!! 

  • Rental Property Investor · Saint Joseph, IL · Member since 2014 · 1 post · 0 votes
    11y

    that is some inspirational stuff my man! I sense a book out of you teaching how the play the game using innovative techniques one day. Move forward just pace yourself. Like a marathon runner. Congrats!

  • Olympia, WA · Member since 2014 · 8 posts · 5 votes
    11y

    Wow!  You're capitalizing on your most valuable asset:  time!  You are truly an inspiration.  After swinging for the fences and striking out, you've learned to adjust your swing to make contact and get on base!  I'll take 50 base hits over a few home runs any day!

  • Investor · Plano, TX · Member since 2015 · 74 posts · 22 votes
    11y

    @Jordan 

    Congratulations on your first deal. 

     Age is just a state of mind, so don't listen to all of the "advice" telling you you are too young.  All of the greats started at a young age, but became instant success later.  Tiger Woods started golfing at 4, and I can add more but you get the point.

    Best wishes to you.

  • Investor · Mount Pleasant, SC · Member since 2015 · 43 posts · 21 votes
    11y

    This is great!  My son is 10 and goes with me whenever a rental repair is needed.  I figure it will all be his some day anyways.  Might as well make him work for it. 

    So you were really interested at 13?  With your words of wisdom, I will increase my son's responsibilities and work load around that age.

  • Investor · Downingtown, PA · Member since 2015 · 31 posts · 13 votes
    11y

    Jordan....

    Man...your story is awesome.   nothing like a little hard work...sweat equity...and thinking outside the box.   To see that in a kid of your age...man o man....there is hope for our future   :)    

    I expect you to become very successful as you grow up!    Keep it up man!

    PS - i just shared your story with another BP member who is struggling to find his way.   I have a feeling it is going to inspire more than a few people!    :)

  • Investor · Lake Forest, CA · Member since 2014 · 18 posts · 0 votes
    11y

    Wow!!! You just blew my socks off.

    I wish my kids had half the drive you display. What a great story. Congrats to you, my young real estate investing friend! You're a smart guy partnering with someone with a little age for the credibility factor.

    I'm a wholesaler, too, aiming for rehabbing and have partnered with a few individuals for different areas of the country. So far, so good. But it is not an overnight path as you have learned. But then you were 13 when you started your education. I'm betting now that your first deal is done, done, done... you're going to do a lot more deals faster. You have the taste now and you're gonna want more.

    I bet a couple of years from now you will be a highly requested podcast guest!!! In fact, I bet you start getting offers now. Let me be the first.

    Thank you!!

  • Investor · Yokosuka, Japan · Member since 2014 · 631 posts · 184 votes
    11y

    @Jordan RobinsonCongratulations, young man!

    I'm sure I had not a notion of what to do with my life at age 13. At 16 I'm sure I thought I was too young, and I was, but then I am just an average person, not an extraordinary person like you. 

    We do have something in common, though. We are both personifications of Henry Ford's quote "Whether you think you can, or you think you cant...you're right."

    Congratulations and I hope to have the good fortune to work with you some day.

  • Developer · Catonsville, MD · Member since 2013 · 11 posts · 1 vote
    11y

    Great work ! Do you have any advice on how to raise private funds.

  • Sacramento, CA · Member since 2014 · 73 posts · 16 votes
    11y

    Lack of hustle is a handicap, not age. Keep crushing it!

     Tweetable quote. Strongly believe. 

  • Sacramento, CA · Member since 2014 · 73 posts · 16 votes
    11y

    Congratulations on the  deal. Very impressive good work. I just have a few questions. How did you fund the deal? Just kind of want To know more details about the whole deal. I hear on the podcasts about having something to offer to the mentor. What did you show you had To bring to the table?

    Thanks,

    Stephanie 

  • Investor · Clarendon Hills, IL · Member since 2015 · 89 posts · 7 votes
    11y

    Awesome start Jordan, keep it up! 

  • Real Estate Agent · Atlanta, GA · Member since 2013 · 46 posts · 34 votes
    11y

    @Stephanie Garcia

     Thank you, this deal was a wholesale deal so there wasn't much funding we had to come up with besides marketing and other related cost.

    When I first met my mentor, I think he agreed to mentor me more so because he saw that I was young and ambitious, yet I wanted to make our relationship mutually beneficial so especially early on I did various task for him such as: data input, deal analysis, research,etc.

  • Real Estate Agent · Atlanta, GA · Member since 2013 · 46 posts · 34 votes
    11y

    @Lear Walls We are just getting into raising private money, so I'm probably not the best person to answer. Theres alot of great information on BP so I would browse more here. 

    I think friends and family can be a good source, also we've talked with some of our wholesale buyers about them becoming a private lender for us.

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