Can you make 100k your first year in real estate?

Real Estate Deal Analysis & Advice
10yFollow

Can you make 100k your first year in real estate?

Ryan Pounds
Rental Property Investor · Phoenix, AZ · Member since 2016 · 8 posts · 2 votes

Im only 15 but i have big plans for the future when i turn 18 and get my real estate license. But i am wondering, is it possible or impossible to make 100k your first year of real estate? 

Thank you

2Reply
64 views

Most Popular Reply

Omid A.
Flipper/Rehabber · Portland, OR · Member since 2014 · 119 posts · 121 votes
10y
Yes you can, I actually did just over 100k my first year investing in real estate...that's net, after all operating expenses.
6Reply
See this reply in the discussion

18 Replies

Jump to latestLatest
  • Matthew Paul
    Severna Park, MD · Member since 2013 · 7k+ posts · 7k+ votes
    10y

    With determination , drive and a bit of luck anything is possible . The only thing that would be holding you back is your self 

    0Reply
  • Ryan Dossey
    Real Estate Broker · Indianapolis, IN · Member since 2014 · 3k+ posts · 2k+ votes
    10y

    They actually say that the first 100k is the hardest. But pulling 6 figures a year in Real Estate is definitely doable. If I were you I would work on building income streams over the next 3 years so that you're off to a good start. What do you like? What are your hobbies? How can you monetize them? 

    Read anything you can get your hands on that's entrepreneurial. Be aware that you're ruining yourself (in a good way) by realizing they're alternative ways to earn a living. 

    I got started young. I still am young (23 tomorrow). Educate yourself now and enjoy where you're at in life.  

    3Reply
  • Stephanie MedellinBusiness Member
    Mortgage Broker · CA · Member since 2014 · 1k+ posts · 642 votes
    10y

    Spend the next 3 years learning everything you can and making a great business plan so you can hit the ground running.

    [email protected]
    Stephanie Medellin, Loan Factory58 Reviews
    WebsiteView Page
    1Reply
  • Account Closed
    Investor · Collingwood, Ontario · Member since 2016 · 27 posts · 11 votes
    10y

    Start saving money now.  Educate yourself in real estate investing.  Good luck!

    0Reply
  • Stephen Moore
    Real Estate Investor · Lake Charles, LA · Member since 2009 · 271 posts · 52 votes
    10y

    I know a guy that made 260k his first year so yes 

    0Reply
  • Dewain J.
    Investor · Philadelphia, PA · Member since 2016 · 87 posts · 29 votes
    10y
    You are off to a great start even being on this website. Learn as much as possible! Then save, save, and save some more. Then lastly build and learn how to responsibly use your credit. Not too early to start. Maybe tell your parents what you are trying to do and they could hook you up as an authorized signer on a credit card (with a very low limit) just to build your history. My dad did it for me when I was in high school and the result is I have a very long history, large credit limits, and credit lines that I've used on numerous occasions at 0 percent to buy properties with.
    3Reply
  • Russell BrazilBusiness Member
    Moderator
    Real Estate Agent · Washington, D.C. · Member since 2012 · 17k+ posts · 30k+ votes
    10y

    year 1 it will be very difficult to. Year 2 is a much more realistic goal. 

    [email protected]301-893-4635Podcast Guest on Show #192
    District Invest Group545 Reviews
    WebsiteView Page
    1Reply
  • Omid A.
    Flipper/Rehabber · Portland, OR · Member since 2014 · 119 posts · 121 votes
    10y
    Yes you can, I actually did just over 100k my first year investing in real estate...that's net, after all operating expenses.
    6Reply
  • Charles Worth
    Investor · New York City, NY · Member since 2015 · 808 posts · 417 votes
    10y

    @Ryan Pounds

    you are asking the wrong questions. I was a little younger than you when I first made good money I worked at a major investment bank with computers) and by the time I was in my last year of high school I made a good amount more than anyone in the school, teachers included. I can tell you that money means 0 right now. No matter how much you make it will be a lot when most people you know make little ot nothing and when you probably have few expenses. Rather, than focusing on money you should focus on experiences. Learn as much as you can even if you make less money doing so at first. It is those experiences that will build relationships with the people, teach you what to do and what not to do and give you leg up on people who started later. With those tools, I would be surprised if you don't have the tools to reach your goals. 

    1Reply
  • David Dachtera
    Rental Property Investor · Rockford, IL · Member since 2014 · 4k+ posts · 2k+ votes
    10y

    @Ryan Pounds,

    Sure you can! The question is, since it won't be a steady paycheck, do you have reserves you can live off of until the first money comes in from a check you received at closing?

    You have a fair amount of learning to do, to say the least. 

    You need to learn how to be an entrepreneur. That would put you ahead of your peers and many others.

    You need to learn about retirement accounts, how they can be self-directed and how they can become a source of unlimited cash to do deals.

    Those two will give you an almost unshakable foundation. Then, you need to learn about real estate investing. They don't teach that in traditional school - you'll be learning that on your own.

    0Reply
  • James MaraditsPro Member
    Real Estate Broker · Cleveland, OH · Member since 2015 · 239 posts · 224 votes
    10y

    Congrats on being motivated and aware at such a young age.

    I also started very young.  My best advice to you would be:

    -Being building credit ASAP.  Whether its a credit card, small personal loan for a car, etc.  You need to work on this as soon as possible because it takes years to develop a credit history.  This will help you greatly in the long run.  With that being said.  DO NOT get into debt you do not need or can't handle.  Use a credit card only for necessities and pay it off monthly.  If you get a loan for a vehicle, only do it if necessary.  Don't go out and buy a fancy car or things you don't need

    -Get a job and save, save, save.  Cash deals in the midwest come up sometimes as low as $10,000.  This much could be saved even working part time after school for a few years.

    -Read/Research as much as possible.  Watch what houses in the neighborhood sell for and how long it takes them to sell.  Learn about repairs, maintenance things, etc.  Be observant and take notes.  Read the forums on here about success stories and various strategies.  Read books not just about real estate, but various types of business and entrepreneurship to learn the terminology and the mindset.  I recommend "Rich Dad, Poor Dad" as a great entry level resource.

    Good luck!

    1Reply
  • Tania Ninerell
    Voorhees, NJ · Member since 2016 · 15 posts · 1 vote
    10y

    I think that's great that your mindset is looking to work for yourself. The only thing I will say is that if that is your goal for the 1st year, then let nothing stop you. Listen to positive and walk away from the negative people. 

    0Reply
  • Aleks Gifford
    Lender · Indianapolis, IN · Member since 2015 · 107 posts · 36 votes
    8y

    So it is almost your 18th birthday. Time for a progress report. Where do you stand?

    0Reply
  • Hai Loc
    Specialist · Toronto, Ontario · Member since 2012 · 2k+ posts · 891 votes
    8y
    You will struggle to make $100k in a market where the median sales price is under $100k. It’s gotta be over $300k minimum. More the better
    0Reply
  • Ryan Pounds
    OP
    Rental Property Investor · Phoenix, AZ · Member since 2016 · 8 posts · 2 votes
    7y
    @Aleks GiffordI I actually just turned 17, but Its stIll one step closer to 18 lol. So far I am doing pretty well right now. I am currently saving up money from profits that I make on stock trading returns to put towards my first rental property. I have moved from Illinois to Arizona and now currenysearxhing good areas to purchase in. I will continue to update you once I hit the ripe age of 18 and get my license 👍🏽
    0Reply
  • Ryan Pounds
    OP
    Rental Property Investor · Phoenix, AZ · Member since 2016 · 8 posts · 2 votes
    7y
    @Aleks Gifford Currently searching for* Spelling error
    0Reply
  • Steve K.
    Realtor · Boulder, CO · Member since 2016 · 3k+ posts · 5k+ votes
    6y
    Originally posted by @Ryan Pounds:
    @Aleks Gifford Currently searching for* Spelling error

    Update? 

    0Reply
  • Wiley D'Spain
    Real Estate Agent · TX · Member since 2017 · 15 posts · 1 vote
    4y
    Quote from @Ryan Pounds:
    @Aleks GiffordI I actually just turned 17, but Its stIll one step closer to 18 lol. So far I am doing pretty well right now. I am currently saving up money from profits that I make on stock trading returns to put towards my first rental property. I have moved from Illinois to Arizona and now currenysearxhing good areas to purchase in. I will continue to update you once I hit the ripe age of 18 and get my license 👍🏽

    Any updates bro?

    0Reply
Join the conversationCreate a free account to reply, vote on answers and follow this thread.
Log InJoin for Free