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Updated 7 months ago on . Most recent reply

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Jamison Borden
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Advice for a 19 Year Old Just Starting Out?

Jamison Borden
Posted

Hey everyone! I've been thinking about joining the BP community for a few weeks now. Today I decided to stop putting it off and joined up. Really excited to start absorbing more knowledge as far as real estate is concerned.

Since I'm just starting out, I'm looking to get some general beginners advice on what avenues might be the best for starting my investing journey. Thus far I am very interested in investing in syndication deals and putting money up for equity in a larger commercial property. Additionally, I've thought about going in on some properties and flipping with other people that I know have a track record of working on multi-family homes.

About me:

- I'm 19 years old.

- Make about $65,000 a year before taxes (confident I will be making six figures in the next 2-3 years).

- I work anywhere from 50-60 hours a week (I work in video production).

- I would have roughly 35-40 hours a week available to dedicate to progressing my real estate journey.

For me, the big appeal of being an investor in syndication deals is that it is not as time intensive as other real estate ventures, so I can focus more time into progressing my career in video production and growing my income there. As far as residential properties and flipping, I can see the appeal of getting hands-on experience working and understanding the process of those ventures as well.

Any input would be greatly appreciated! I have been listening to a real estate podcast (haven't started BiggerPockets Pod yet), and bought How to Invest in Real Estate from Brandon Turner and Josh Dorkin (so far it's been a great read). I'm very eager to learn morethanks in advance!

Jamison Borden

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Jonathan Greene
#5 Starting Out Contributor
  • Real Estate Consultant
  • Mendham, NJ
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Jonathan Greene
#5 Starting Out Contributor
  • Real Estate Consultant
  • Mendham, NJ
Replied

This is one of the better new investor posts I have read in a while because you know to stay in your day job and earn money to invest and you are also way ahead of the curve thinking about syndication (as close to passive as you can get) over flipping (don't do that with friends).

Your job for the next months would be to go to every meetup locally that you can and read books focused on what you are thinking about first. If you like the idea of syndications, the best book to not mess up is The Hands-Off Investor by @Brian Burke. You will be way ahead of the curve.

Your video production skills will be your biggest asset to trade for experience and you need to keep this in mind. If you meet a local flipper, you could trade some equity on the deal for a full video before, during, and after of the flip. Think like that.

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