All Forum Posts by: Elena Redmond

Hi @Saul L.,

Funny enough, I have had a look into those crowdfunding websites, and they have piqued my interest, though I haven't looked too much into it - it's good to meet someone who is involved in them! How do they work exactly? Do they provided a monthly cashflow or is it a lump-sum return that you get once you cash out?

Thank you and best of luck!

Thank you everyone for your kind and encouraging words, I did not expect to receive all this positive feedback and response so soon! Thank you for taking time out of your day to do so. Good luck for all of your endeavours! 

Hello everyone! For a long time (and I mean years) I have been interested in real estate. I would always think of all the flashy houses I would have, and always dreamed of building my own building in London, UK. In the past few months I have delved into real estate more - I have read countless books and have read countless forums both on BiggerPockets and the UK's version (Property Hub) but I have reached a roadblock - I am scared.

I'll go into context. I am 20 years old and have been living in London for the past few years. My age, whilst not a problem for me, means that many people don't take me seriously. These people are people I work with, and friends and family. To them, being an "investor" is neither possible nor an option. Why would I leave a really good job, with good salary, to jump into the unknown where none of them have been or know nothing about? I am slightly ashamed to say that some of their uncertainty has rubbed onto me.

Also, I live in LONDON, where the average property price is OVER £500,000. How am I meant to find a good deal? Again, my dear friends, family, and co workers have been quick to point that out, and mention that there is little chance of making any money with prices so high.

On my spare time I like to read books, and I have read so many on real estate that I lost count. I like to ignore these comments and pass them off as ignorance, and to do so I have immersed myself in my education. Thankfully, my partner is my real estate buddy - we are confident we will make it in real estate, and are refusing to listen to any negative talk. I realise that reading one book after another isn't the way to make it in this exciting world, so I am looking to prepare for my next step.

I would like to buy my first rental property by the end of the year, and move on from there. I am hoping to find a mentor that can guide me through this tough market, and can show me the best way to finance deals with little or none of my own money.

Just to end this, I would like to take a moment to thank everyone on this site that takes time out of their busy lives to post their stories of successes and failures in this market. All posts are inspiring, and the positives far outweigh the negatives. Thank you for reading thus far, and any comments or tips will be greatly appreciated. 

Elena

Congratulations! This is a very inspiring piece. As a 20 year old, whenever I have spoken out about wanting to invest in real estate, I have been deemed "too immature" and not "ready" for this big step. It is amazing to see someone else that is aged similar to me achieving these amazing deals!

If you could go more into how you financed it, and what quotes you got, that would be awesome.

Thanks!