19 year old real estate investor

7 Replies

My name is Chris, I'm an ambitious nineteen year old who is looking to find success now. This past summer, I left my life in Philadelphia(Delco) to move out to California. I have business experience with an internship called Collegeworks Painting, but the real estate industry is completely different to painting. Knowing real estate is sorta like knowing a second language. Everything takes hard work and I'm willing and ready to take action.... but I didn't know where to ever start I till I saw BiggerPockets. I came to California with my best friend/roommate/business patner(Blake). He started a BP account a couple days ago and he's been getting great feed back with many people who look to help. I noticed how much knowledge and networking you can get so I took it upon myself to join the BP club. I want to acquire as much knowledge as I can about the wholesale industry in Santa Barbara county and all the counties around. I know the basics when it comes to a wholesale but other than that, I'm at square one. Any kind of input of past experiences or tips for me would be tremendous appreciated. All the money I look to make being a real estate invester will be going toward a business blake and I are making. We are determined to have a successful business by 24 and will get it one way or another. The doubters fuel us so bring it on!

@Christopher Heiler

Great welcome to B/P, great place to network and learn. Go to your local meetups, look for a mentor thats how I started. Figure out your strengths and bring it to the table. Maybe your good at computers or social media? Good luck, hope to see more of you here.

@Christopher Heiler Welcome to BP!  There is a real estate investing club in Santa Barbara (http://santabarbarareia.com/) that might be worth checking out.  

First, save as much $ as you can.
Second, I'd suggest checking out the BP podcast.  Once you make your way through the 190 hours of material, and the books you'll inevitably end up reading, you'll be as ready as you need to be. Best of luck; rest assured that you WILL find success if want it bad enough. 

@Steven Gruner steve thank you means a lot. I'm going to get my goals in life, just thought BP will help me get there. Already saving too!

@Natasha Keck thank you for the link! I just signed up for the reia. I really look forward to attaining the meetings.

My advice to new investors is to start wholesaling properties. This is the quickest and best way to get started with the least cost.

First pick a neighborhood that you are either in or close to. Driver around all the streets and look for vacant houses. There should be some. Then look in the county assessors website to find the owners. it should give their name and mailing address. Send them a letter telling them you found their house to be apparently vacant. But if it is obviously abandoned, say so in the letter. Tell them you will pay them cash for a quick close.

Many times the owners don’t update their mailing address with the county so you may get the letters returned. I use beenverified.com to get the most updated info. It costs me $24.95 a month but it is well worth it because it also gives me email addresses and phone numbers.

If you are going to buy the property, fix it up and then either sell it or rent it then you are through.

But if you want to wholesale the property to another investor, then contact a local RE Agent to give you a list of all the houses in that neighborhood that have sold in the last 5 years with all cash. This typically is investors. Then again go to the assessors website and find their name and mailing address. And again use beenverified.com to get the best and latest contact info.

Once you get a response from the seller of the vacant house, negotiate a deal to buy it for all cash. Then immediately contact all the cash buyers you just found that buy properties in that neighborhood and tell them about the house and would they be interested in buying it.

Once you have done all that with that neighborhood, go to the next one and 'rinse and repeat.'

I hope this helps.

Create Lasting Wealth Through Real Estate

Join the millions of people achieving financial freedom through the power of real estate investing

Start here