Best Way To Get Into Real Estate!!!!

[Richard L.]

Hey guys, so recently I had a sit down with a real estate broker and property manager. I told him how I am young and ambitious, and told him about my plan which was to try to get a loan and open up an LLC, and look for rental properties.

He told me how a lot of young people are very ambitious, and that these ambition can blind them from a better approach. 

He told me that if he was my age, he would get a real estate license, and work for a company; learn the in and outs of the industry, know what a "good deal" looks like, and learn to build your own listing; so I can have most control. 

He told me that working with other agents, also under a company can give me the connections and the resume; so when time comes to invest and ask for a loan, you have the backing to make yourself seem as a legitimate investor 

He really opened up my eyes, and made me see a whole different approach to the real estate industry. I was hoping if any one had any additional advice. I love the idea of real estate, but I am 19 and I'm the type of person who thinks he know everything and is past his time, but I genuinely want guidance, and I really am thinking of getting my license and working under a company for a few years so I can raise capital on my own and also added benefits that come with it. 

What do you guys think? P.S 

[Arlen Chou]

@Richard L. that is great you are thinking about this at such a young age. My advice would be to get really patient, don't feel like you have to bust out and make it big just because people are posting up on social media about killer deals, etc. The very first thing you have to do is get your money right. Way too many people come on BP and ask "how can I start with no money"... There are a very few people who are able to do that, but the vast majority get demoralized if they follow this thought path.  The reality is that you need money: your money, parents money, investors money, credit card money... it does not matter who's money, you need money. 

If I could do it all over again, I would hustle my A$$ off and live like a monk to build up a small war chest.  I would protect and build up what ever little credit I have.  When your friends are going out or playing Fortnight, grind and make money or learn. When you want to buy a piece a bling, get your head back in the game and grind more.

Depending where you are, the amount of money you need for a down payment could be reasonable.  The hard part will be getting credit. Get to know local banks and the people who work there.  You will need their help to get the credit you need to buy your first deal.  The hardest part is getting the momentum.  You will be amazed at how much easier it gets once you have built a reputation.

Almost all of the "learning" you need to do can be acquired free here on BP or with a library card, so do not pay anybody for a course.

It is EXTREMELY easy to feel like the "opportunity" is passing you, but you are 19... if you play for the long game you will be rich as F*&K when you are older and you will be glad that you busted your back when you  were younger. The 100% truth is that is sucks WAY more to be old and poor than when you are just in your teens or twenties.

Good luck to you!