Troubles With Investing at 19

[Ryan Wood]

Hello,

My name is Ryan and I'm starting to get into the Real Estate scene. I have access to Sean Terry's Flip2Freedom academy and have been adamantly devouring the information put out.

I'm young and hungry for information, but I'm wondering if my age is going to be a set back when negotiating with potential buyers/sellers.

What are strategies to help get the matter off of my age and more on the business at hand?

[Jenna Stonecipher]

Your age won't be a setback. On the contrary, I think many local investors enjoy seeing a high-energy young person who is eager to learn from them. Surprisingly, many are eager to teach!

At 19, I was bragging to my uncle about my high credit score and he told me, "you just haven't had enough time to mess it up yet." That always stuck with me. Watch your credit and your credit debt ratio. You will rapidly grow in your 20s, and so will your salary, but if you learn to live efficiently then it can be a great boon to your investing.

Also, manage any student loan debt that you may have. If you don't need it, don't borrow it--not matter what anyone tells you. You will also qualify for more if you purchase a home any time up to 6 months before you are set to pay your student loans off <--messed up my first deal.

The best advice I can give you is to purchase a multifamily as your first property and live in part of it. I did this with a triplex, which is considered commercial property here. If I had done it with a duplex (as an owner occupant) my taxes would be cut in almost half. You can do all of if with an FHA loan, btw.

Best of luck!