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Updated over 10 years ago on . Most recent reply
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Office buildings
I am currently 16 years old and planning to pursue a career in commercial real estate. My goal is to buy office buildings and build a portfolio consisting of 1 million or more square feet, however the problem is figuring out how to start. I want to graduate college with a degree in business and start investing as soon as possible. I do not know how I can invest without any money. Also, I was trying to build an imaginary portfolio and see if I could cover my expenses and mortgage, did not know how much exactly the expenses were, however I was able to cover the mortgage with a substantial amount left over. I was wondering should I borrow a large amount to buy all of my buildings from the start since it can cover my mortgage and most likely the expenses or should I build my portfolio in stages(by the larger properties first and pay off the loan before borrowing to buy other decent sized properties)?
Sorry my question was so lengthy, a response would GREATLY be appreciated. Thank you:)
Most Popular Reply
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Thinking big!! I like it!
You're 16 and already thinking bigger than most people do at ANY age!
Read and learn as much as you can the next few years. Focus on keeping yourself in good financial standing and network as much as possible. Try to find someone in your area that is investing successfully in real estate and see if they will allow you to work for them. Do it for free if you have to, just get some experience. It doesn't have to be a commercial investor, just someone that will help you learn the basics and keep you pointed in the right direction.
Youre most likely going to need some partners or private lenders so be sure to network along the way and build those relationships so they may rise to the next level.
Good luck and spend lots of time on this site. Tons of great info!