What are some things you wish you did before you started in real estate

[Kyle Deboer]

I am interested in real estate but I am too young to get any mortgage from a bank. Are there things you wish you did during the stage of your life that I am? I want to get started as soon as possible with buying properties and renting them out but it just seems like I'm too young and it's too early. Are there ways around this?

[Chris Seveney]

@Kyle Deboer

Here are five (could probably list 100)

1. Understand true costs to maintain a home

2. Being more handy around a property to do some of the minor repairs yourself

3. Understand renovation and how to write a scope of work

4. How to vet contractors and negotiate with them

5. How to truly find off market deals

[Gregory Schwartz]

Get a job in the industry. It will be the fastest way to go from "too young" to "that kid whos crushing it"

[Jonathan Greene]

Both of those slices of advice above are great. I would add to get and keep your finances very organized. Know what you make and how you make it. Read books like Set for Life by @Scott Trench and Start with Strategy by @Dave Meyer to get the mindset of starting on the table before going too deep into an asset class or something like flipping. Listen to podcasts like the BP Rookie Podcast because they interview all newer people to the business so almost everything will be relevant for you. Lastly, go to real estate investor meetups in your area. If you don't drive yet, bring your parent(s). It's a great way to learn in real life and off the screen.

[Michael Diossa]

Quote from @Gregory Schwartz:

Get a job in the industry. It will be the fastest way to go from "too young" to "that kid whos crushing it"

 Very true!

[Alan Asriants]

Understand how a Home works. 

Basic plumbing, electrical, HVAC knowledge will go a long way. Also understanding how things are put together, how siding works, gutters, etc (basically as many aspects of the home as possible)

Having this knowledge will also help you from getting burned by contractors telling you things just so they can save time and money and deliver a crappy service. 

Study and read your local lease template

Read, read, read.

Watch youtube videos online of some basic building and construction. You won't learn everything and you will still have 1M questions, but this will give you a base.