Advice for a 19 Year Old Just Starting Out?

[Jamison Borden]

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 more, thanks in advance!

Jamison Borden

[Nicholas Coulter]

Congrats. Having this mindset this early will pay off very well in the end!

First off I would say be preparred to see people who you love and respect judge the financial journey you will start down. Many people dont think like this and dont understand why people would live like no one else so they can live like no one else can later. 

Id line up these steps.

1. consume education through books and podcasts. A few favorites of mine are set for life by scott trench, Househacking strategy by craig curelop and millionare next door.

2. Develop incredible savings habits. Dont deprive yourself but figure out what brings you joy when spending. "you can afford anything but not everything" 

3. I suggest all new investors do a HH rent by the room. if you read the books above youll see why.

Have fun! Let me know if you ever need any questions answered. Welcome to a wonderful community.

[Samuel Diouf]

Welcome to BP Jamison!

Have you looked onto house-hacking? It's a great way to get started on building your portfolio without having to put down a huge down payment and it's not as time consuming or expensive when it comes to management as you will be living there. 

[Jonathan Greene]

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.

[Rhealaine Sayson]

Hey Jamison! Welcome to the BP community! It's awesome that you're starting your real estate journey. With your income and potential for growth, you're in a good spot to invest. Syndication deals are great for passive investing, letting you focus on your career while learning from experienced investors. Flipping or multi-family homes can also be a good way to get hands-on experience and learn the ropes. You might want to start with passive investments and move into more active roles as you gain confidence. Keep learning from books, podcasts, and other investors. Good luck, you're on the right track!

[Caleb Brown]

Kudos to wanting to start. I would start with a house hack. I know it's not super exciting and will take time to do but it's a good stepping stone. You can house hack a single family or multi. You can do a live in fix n flip or you hold after you move out. It will give you a feel before putting in more effort or money. You can have a PM manage when you rent out. From there continue to learn and grow your income/savings. At 19 if you did a house hack every 2 years you would have 3 properties by 25. At 25 you can decide where to pivot from there.

[Jamison Borden]

Thanks so far for the replies everyone! I definitely am more interested in the syndication route than flipping but I know house hacking could be another great route to go early on.

Right now I am able to save a lot of money as I am still living at home, rent free, and my monthly expenses are very low (about $300). I am currently paying off my last bit of debt I owe to my parents, and plan to be debt free before I turn 20 at the end of August.

I am definitely going to start reading some of these books to get in the fast lane. Really appreciate everyones input so far. Gives me a lot of confidence!

[Kollin Ruiz]

Hi Jamison,

Welcome to the community! It's great to see your enthusiasm for real estate investing at such a young age. I respect the hustle. I was young when I started too (I'm only 21 right now).

Given your goals and time constraints, starting with syndication deals could be a smart move. They help you to gain exposure to larger commercial properties without the day-to-day management.

As for flipping properties and multi-family homes, these are great for gaining experience and great returns. Good deals are very difficult to find though, especially in today's market. Partnering with experienced investors is a good idea, especially as you build your knowledge and network.

Keep listening to podcasts and reading books. Knowledge is one of your greatest assets.

Good luck, and reach out if you have any questions or just want to talk about real estate like I love to do!