What should I be looking for?

[Micah Cook]

I'm a 19 year old college student. I really want to get started on my career as an investor. I've wanted to be an investor for as long as I can remember. My mom is a real estate appraiser and I've gone to many appraisal inspections with her over the years. I'm ready to get started. I've got about 4k saved and I make about 350 a week working and I also run an eBay store so I get a little more income from that. My main question is, what should I do first? Should I be looking for properties that would be good flips and that are cheap? Any help would be greatly appreciated

[David Dachtera]

@Micah Cook,

Wow - you REALLY got the full spectrum of responses!

@Joe Villeneuve and @Kyle Soderman illustrate the "wealthy" mindset: how to use money to make money and devote your time and intelligence to knowledge and wealth generation.

@Jerry W. and @Brandon Battle are at the other end of the spectrum. They illustrate the "scarcity" mentality. Their advice is to "save" (read: not spend) money to make more money, which just doesn't work - because it can't. They would have you invest your own precious time and efforts into your deals rather than hiring it done.

Probably the most important lesson you can learn at this age in your life is this: you'll never "save" your way to wealth, you MUST generate both profit and income. You MUST invest in income-producing assets and ventures.

NO ONE EVER "GOT RICH" swinging a hammer or a paint brush! You'd find it enlightening to ask one of the wealthiest RE investors in the country - Warren Buffet - the last time he put up sheet rock or painted a wall.

Yes - learn the fundamentals of the trades now while you're young so you understand what goes into building and repairing structures and dwellings. Then, use that knowledge to guide you as learn to lead projects and direct contractors and general contractors.

When it comes to true wealth-producing investments, you will not be swinging a hammer, kicking a shovel, pushing a wheel-barrow or operating heavy equipment. You will be the guy dressed in business casual with the clip board supervising the general contractor.

My opinion only, of course...

David J Dachtera

"Success is not a destination. Failure is not an event. Success is a process, failure is a choice."
- DJ Benedict