How to start investing in Real Estate at a very young Age?

[Roland Miguel Hibionada]

Hi,

I would just like to ask, is there any possibility to start Real Estate investing in your mid 20s?  I know it is a very young age and that it requires huge amount of capital which is very impossible for me to provide given my current earning capacity of only $3k a year.  But I really wanted to start now so that I will be able to go out of the rat race early and can start devoting my full time to real estate business.  I really wanted to own my first property ASAP.  Even if i go to bank to mortgage one, it's still impossible for me to be entertained since I don't have a credit score yet and also it would be my first time to loan and perhaps banks require a lot of credibility in which I don't have.  Please advise.  Thank you so much. 

[Matt B.]

Roland, I bought my first house when I was 25. It was very hard but very possible. I got my first credit card the day I turned 18 (still have it too), then I got another credit card every year since then. Use the card responsibly to build credit. At 22 I got my first car loan to build even more credit. Sold it 2 yrs later and paid the car off in full, took out another car loan to continue with credit building. At 23 I graduated college to get a better job, couldn't find a better job, at 24 I graduated with a masters to get a better job. Got the better job. At 25 I went for my first house, my credit was 790ish. Because of good credit I only had to put 10% down on a 30 yr conventional mortgage. Fast forward to now, I just turned 28 with 1 property in NYC, have an 810 credit score, enough available credit on credit cards to buy a Mercedes (don't ever buy a car with credit cards, I buy a soda every quarter on each card to keep them active, that's it) and I'll be purchasing another rental property later this year. 

Don't ever let someone tell you anythings impossible. If you are determined and creative you will find a way to achieve your dreams. I watched a seminar on youtube where the guy mentioned "when you want to be successful as bad as you want to breathe, then you will be successful". That stuck with me for years. 

FYI - I don't remember his name but I saw a 22 year old (I think, definitely low 20's) on here with something like 22 properties. I think he had a post called 22 with 22 properties. Maybe you should try to find him and connect with him to see how he did it. Good luck!