4 Tips for Millennials Trying to Break Into the Real Estate World

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While a lot of people consider real estate investing an “old man’s game,” I am here to tell you as a Millennial that this simply isn’t true. Sure, I firmly believe that to become a successful real estate investor, you will have to select this as a long-term path. After all, the younger you start, the greater you will benefit from it in the future. Because of this, it is highly essential that you don’t feel discouraged if you are playing a game that doesn’t seem to be popular in your age bracket.

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Lose the Excuse About Money

Have you ever found yourself giving up on something simply because you believe that you can’t do it? I mean, more often than not, we give ourselves little excuses about why we can’t do this or that. But what does that really achieve? Essentially, it just helps us to feel better about being average and not even trying.

So don’t hold yourself back! This industry is extremely lucrative and offers a wide variety of ways to get creative. Therefore, don’t ever use money as an excuse. Remember, Rome wasn’t built in a day! The first deal I acquired in my early 20s took zero dollars out of my pocket. However, it did take tremendous hustle on my end to make up for the shortage of capital.

Network, Network, Network

Don’t be afraid to go to the local meet ups, telling everyone you meet what you do. It is highly important that you get yourself known. Whether by joining groups, talking to people at the local bookclub, or simply giving your business card to those strangers that you meet on the road, it is great to network yourself.

Related: The #1 Reason Newbies Go Broke in Real Estate (& How to Avoid It!)

Oh, and let us not forget that since we live in the 21st century, don’t be afraid to tap into your Twitter, Facebook, LinkedIn, and perhaps even a Instagram account to really get your name out there! You are your own personal brand, so this step is crucial. 

Take on an Apprenticeship

The best way to learn is through leveraging the knowledge of others. Regardless of whether you are old or new to the game, try working for someone else who is experienced in the field, and learn the ropes of the industry from them. Trust me, even if you are simply working for a bare minimum, this will definitely take you a WHOLE lot further than a common school education.

Not to mention, aside from using their insight, you will be able to meet the people that your mentor knows too (networking, anyone?). By going through some sort of apprenticeship, many failures that you would run into venturing out on your own can easily be avoided. 

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Related: 10 Seemingly Harmless Habits That Sabotage Ambitious Millennials

Be Ready & Willing to Make Sacrifices

If you wish to become successful in real estate investing, it is essential that you accept the fact that you will be making certain sacrifices along the way. From having to forego time going out with friends on weekends to reinvesting your profits back into the business, you just have to remember that you’re in it to win it. So stick to it and buckle up for the long haul. 

Experienced investors: What do YOU think is most important to keep in mind when starting out? New investors: What has your experience been?

Leave your comments below!

About Author

Sterling White started in the real estate industry at a early age back in 2009. The company he co-founded Holdfolio is a real estate crowdfunding platform based in the Indianapolis market. Before founding Holdfolio Sterling and partner Jacob Blackett were involved in the purchasing and selling of 100+ single family homes nationwide. In his free-time he trains for a World Record

15 Comments

  1. Catrina Kattner

    Great article! I am in my early 20s right now and the only thing holding me back is the actual down payment. You mentioned in your 20s you had no money out of pocket but a lot of work. How did you do this? Did you get investors? Did they give you personal loans? I appreciate your help!

    • Sterling White

      I am a firm believer in the quote “When the student is ready the teacher will appear.” My mentor just happened to workout at the same gym I was at. My responsibilities happened to be majority of the legwork with finding, vetting and putting deals together working with him.

  2. Will Rieske

    Great stuff, Sterling.
    Coincidences aside, how would one go about finding a mentorship? Do RE companies often have the types of positions available like the one you described? Is it like an internship? Could you do it part-time?

    • Sterling White

      Great question Will. I am highly confident there are RE companies, in which you can be brought on as an intern. When working at the company I would recommend absorbing as much as you can about the ins & outs of the operations. Later at some point you may be able to venture off and improve on what you learned working for that company in your on endeavor.

      Hope that makes sense.

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