Looking to start out in the real estate investing field

[Account Closed]

Hello all,

I am a 21 year old male who is currently employed with an office supply company in Boston working an 8:30am-5:30pm job. I make around $40,000 a year, which is on a lower end of the state that I live in (Essex County, Massachusetts), but decently above poverty. Currently, my credit is really bad and I am in the process of filing bankruptcy, which is disappointing because the day I turned 18 I started working towards having excellent credit with a decent savings account and got in over my head. I currently have only a little over $1,000 to my name right now. Luckily now, I don't have the same spending habits as before.

I feel that I do have a little bit of time ahead of me before I can start investing due to the need to save up and also revive my credit score. Reading a decent handfuls of posts on this site has been majorly inspiring and I've read a few on how to start up, but I also have a different situation going on for myself. Luckily I have no mortgage, no kids, and no student loans to pay off. 

By nature, I am a go-getter. Even within my company it is recognized and I have moved forward as far as job title goes. I have been reading on real estate since I was about fifteen years old as I wanted to be an agent. Around seventeen and eighteen years old I learned more about real estate investing dealing with rentals and rehab projects. I am usually self-motivated, but I feel an issue that I have is not being surrounded by influential people that truly drive for success. 

Does anyone have any advice that they can offer to a person in my predicament? 

[Jonathan Towell]

Hi Brandon,

Thanks for sharing your story. It sounds like you're asking the right questions. Since you asked for advice, I'll share a few things...

1. You are right to be asking about surrounding yourself with influential people. Paul said, "Do not be misled: 'Bad company corrupts good character.'" (1 Cor 15:33). Of course, he was right. But, Paul wasn't saying to hang out with rich people. He was saying to hang out with people of good character. Find kind, honest people with drive. Buy them lunch and do nothing but ask questions.

2. You might check out Dave Ramsey. He has good material to help with mindset and building wealth.

I'm rooting for you!