What would you tell your 18 year old self?

Question

This question is one of my favorite questions to ask all the people I connect with when it comes to real estate investors.

Ive always been interested in investing. I started out researching the stocks and making a few small investments in the stock market and have recently been researching and attending classes on real estate investing. Im mostly interested in wholesaling and then working my way into flipping (since I have a good bit of experience in contracting) and acquiring rental properties along the way. My overall goal is to be financially free by age 28 and be able to travel the world.

Being that im only 18, I'm always the youngest person by atleast 5 years whenever I attend classes on real estate investing and meetings with the local REIA.

SO, my question to everyone is what would you tell your 18 year old self knowing everything you know now? What would you go back and change?

Im curious what everyone has to say. Please vote for this post, the more people to share their thoughts the more it will benefit my investing career. Thanks!

Dave Foster · Answer

LOL and with one swoop @Justin Shanahan turns Bigger Pockets into Facebook lite! I can't resist. Justin I'll vote for your post if you tell me exactly how my "vote" helps you become a better investor.

BTW - I would tell my 18 year old self...

Pay as you go.

Go have one more adventure. Repeat.

The regret of missing a good deal fades much faster than the regret of making a bad deal.

Elliot Lamson · Answer

Go to as many REI meet ups as possible, find a mentor. It's a marathon not a sprint. Spend your money on experiences not things.

Jay Dimacali · Answer

You're going to need to live somewhere so take advantage of the $250k/500k primary home tax exclusion. Timing and location of your house is important but if you can take advantage of that law and keep collecting money every few years by selling your primary home you should have a few hundred thousand dollars (assuming a major city like LA) by the time you're 30. Then you'll have money for investing in bigger projects. Better than throwing $2k+ a month on rent. Even if you have to get roommates I would go that route. And learn as much as you can about real estate through books, real estate meetings, and mentors. Save your money on mentor ship 'guru' programs. Use that money on your primary home that you're going to sell for a profit.

Dave Foster · Answer

I'll accept that @Justin Shanahan

Justin Shanahan · Answer

@Dave Foster the more votes, the more feedback, the more feedback, the more lessons I learn. Plus you have to remember im 18 & we use twitter & instagram. Only old people use facebook anymore....

Thomas S. · Answer

Get the highest paying job you can find. A job is no more than time in exchange for money.

Live a frugal life style and save every penny you can.

Associate only with like minded people, preferably those with money.

Don't get married, or live with a partner, till you reach your investment goals.

Jon Huber · Answer

There is only one NYC... only one San Fran... only one Los Angeles...

Look into those locations because they may appreciate.

What would you tell your 18 year old self?

What would you tell your 18 year old self?

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