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Updated over 6 years ago on . Most recent reply

User Stats

11
Posts
12
Votes
Tyler Warlow
  • New to Real Estate
  • Raleigh, NC
12
Votes |
11
Posts

Is it ever too early to start?

Tyler Warlow
  • New to Real Estate
  • Raleigh, NC
Posted

Hello everyone,

My name is Tyler Warlow. I am 19 years old and currently pursuing a dual degree in Engineering. For the past few months, I have been working in an experience called a Co-op. Through this, I have met a mentor who has suggested I look into real estate. I have been listening to the Bigger Pockets podcast recently and through this, I learned about house hacking. My unique situation in college results in the need to rent an apartment for the next few years. I have been considering trying to buy a property and renting out the other space thanks to Bigger Pockets. I have a potential partner in my mentor if I can find a deal. I have enough money to make a down payment using a First Time Homeowner's Loan but after that most of the costs would need to be covered by my partner.

Is this a viable option for someone my age given the risk involved?

Should I be more tolerant of risk because of my age?

Any thoughts and opinions are appreciated as well as any resources that may be beneficial for a college student looking into real estate. Thank you all.

Most Popular Reply

User Stats

1,173
Posts
1,644
Votes
Brian Ellis
  • Rental Property Investor
  • South shore, MA
1,644
Votes |
1,173
Posts
Brian Ellis
  • Rental Property Investor
  • South shore, MA
Replied

Looking back, at 19 I had the same knowledge about real estate as I did at 27. The only differences from then and 27 were:

I partied at 19, I didn't party at 27

I didn't make my bed at 19, I made my bed at 27

I didn't pay my bills at 19, I paid them at 27

I didn't budget at 19, I budgeted at 27

I would give up at 19, I would persevere and work hard at 27

Just by your post it seems like you are responsible, you have already taken a series of steps to put yourself in a good position (while pursuing a great career). Not to mention, If you are going to stumble, it is better to stumble at 19 then it is later on in life. No human is capable of making great decisions consistently, just make sure your ducks are in a row, and you do your best to stay on top of things!

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