Starting Out in Real Estate as a Younger Individual

Real Estate Broker · Charlotte, NC · Member since 2022 · 133 posts · 127 votes

2y

Super possible! I got my real estate license at 18 years old and build a business with investors. When I started I mainly helped wholesalers find properties to wholesale on market and I got to know the investment world that way.

About college... Is someone paying for it or do you need to get loans to afford it? if someone is paying for it then it could be a good experience and the people you meet could maybe help you later in your career but I would not say that being an interior designer will significantly change your flipping career enough to invest 4 years on it. The best thing that would help you with flipping is learning how to actually source deals that make sense. That is a great skill to have and you can learn that as an agent or wholesaling.

Fast-forward 4 years from the beginning of my career I now own my Real Estate firm and I am a very successful realtor plus investor! I've own 4 properties(3 long term rentals and 1 airbnb) and I build houses with my husband! Currently building 4 houses in North Carolina. I never finished college and went straight into Real Estate. If you ever have more questions shoot me a message! I'm happy to help :)

[email protected]704-318-5494

Angie Castro with Monarch Group4.847 Reviews

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Wyatt WolffPro Member

Lender · Charlotte, NC · Member since 2019 · 466 posts · 278 votes

2y

I can second this and say that if you are willing to go all in, RE is awesome. I didn't go to college so I may be biased, but I can honestly say that I don't see how it would be relevant to the skills needed for investing/sales. Maybe if you wanted to go to a large institutional lender, but other than that, just get out there and get your reps in.

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Michael Dumler

Real Estate Agent · Atlanta, GA · Member since 2020 · 1k+ posts · 1k+ votes

2y

@Sienna Cardona, wholesaling is a full-time sales business. The only way to improve sales is to take action and immerse yourself in sales. I suppose it can be debated, but in my opinion, college will not help enhance your sales skills. I concur with Angie's question/answer. If you're taking out loans to attend but are unsure if college is for you, I would advise you not to pursue this route. Deciding what profession to chase is challenging when you're only 18. Not to sound condescending or ignorant, but are you interested in wholesaling because you saw an Instagram or ticktock of some guy waiving around a hefty assignment fee check? Wholesaling is similar to real estate sales and has a 90% fail rate. As I always reiterate, if you pursue wholesaling, you better be in it for the long run. To be upfront, it takes years to see some consistent deal flow/business. Moreover, majoring in interior design will not necessarily help with either wholesaling or flipping.

Best of luck!

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Zachary Cain Humphrey

Investor · KY · Member since 2022 · 204 posts · 77 votes

2y

Quote from @Sienna Cardona:

Hello!

I've shown plenty interest in real estate for a while now, however, I'm stuck on figuring out how to go through with it. The majority of the reason is because of my age and college confusion. To give some context, I am about to graduate high school in May, but I desire to start wholesaling now to eventually reach the point of doing house flipping later. Is it possible to start wholesaling now given my age range? If so, how can I do that?

To cover the part about college confusion, I am stuck on deciding if it is a good option for me. Is it recommended I go to college to help me for my house flipping career? I am planning on getting a degree in interior design to help increase my success and potential in house flipping. Is it a good idea or should I get a real estate certificate instead?

Apologies for all the questions, I really want to make sure I am heading in a successful direction to get into house flipping later on. I'm not sure if this is a good place to discuss these questions, but I want to hear advice from professionals in my desired career path. I'm open to any suggestions.

Thank you!

I suggest becoming a realtor. This will help you much more than the interior design piece. There are successfull designers in the space who build their platforms on social media rather then having degrees. their social media page showing how they design draws business rather than having a degree behind it.

Starting wholesaling first see if your state allows it. If they do, then you need general real estate education. Read books on investing, especially comping deals, calculating ARV, etc. Try to build a social media presence around what you are doing. Maybe start a youtube channel or network on bigger pockets. Also consider attending local state meetups for real estate investing. In doing this you are increasing connections, then through that you will get more understanding.

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Sherry Patterson

Real Estate Broker · Fort Worth, TX · Member since 2015 · 221 posts · 125 votes

2y

First congrats on being so young and knowing what you want to do. I commend you on not only knowing but already reaching out and asking for help and finding resources. So many young people know it all and don't realize they are not the smartest person out there. No need to reinvent the wheel.
I am a college graduate and there is value in having a degree. You need to know your BHAG (big harry audacious goal). Don't think small. Flipping has made lots of people a lot of money, but not the kind of money a multifamily or commercial developer makes. I am not saying to chose that I am just giving an example. But you are so young. You can do anything you want to do. Wholesaling and flipping is a means to bigger things, not the end goal. Unless of course you grow it to a really large national company which is also possible. I don't recommend a RE lic for any of these things. Unless you want to be a real estate agent you do not need a lic.

If flipping is your end goal I would get an education in construction. I don't necessarily mean a college degree, but could be. Also, the contacts you make in college can serve you really well in the future. It can be a trade school or as an apprentice to a contractor or builder. To be a flipper you don't necessarily have to know construction but it would sure help. Otherwise you are paying others for that knowledge and many times getting over charged or things not done correctly that will cost you more. Education is expensive. Whether it is a conventional education, or getting taken advantage of, or doing it yourself and screwing up and lose a bunch of money. However, from all of these scenarios it is education and learning. You just need to figure out what the best path is for you to take for that education. If you could find a mentor that does wholesaling and flipping and work for them and learn everything you can from them, that is what I would suggest. Most all wholesalers are looking for a young person to go out and do the leg work. Let them spend their money (wholesaling is expensive and don't let anyone tell you otherwise) and train you to get the deals for commission. You can do this while in college or trade school as well. On the flipping side hopefully they will let you shadow them and see how they run the numbers, where the money comes from, inspecting the property, closing procedures, hiring the contractors or instructing their own on what needs to be done, buying the materials, and getting it done and sold. There are a lot of moving parts with both wholesaling and flipping. But find someone local to where you live that is actually doing it, not selling a program to teach you how to do it. You don't need a guru you need hands on experience to trade your labor for their knowledge.

What ever you decide I know you will be great at it and I hope you will keep us posted. I love to see people's success, especially young people. Happy Investing!

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Dan SheeksPro Member

Rental Property Investor · Denver, CO · Member since 2016 · 621 posts · 362 votes

2y

My advice would be to read the Bigger Pockets’ book First to a Million (and the workbook). It’s written for young aspiring investors just like you.

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Starting Out in Real Estate as a Younger Individual

Starting Out in Real Estate as a Younger Individual

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