19 | 5k | Good Credit - Where do I start?

[Christopher Raiz]

I’m 19, I have 5k saved, credit built for nearly a year and I’m eager to get into the real estate business but I don’t know where to exactly start. I know people say to just jump in otherwise all the knowledge I’ve learned is useless without action, but the farthest guidance I have is reading books on all the different types of investing into real estate lease options, flipping, the step-by-steps, and the mindset.

I have a couple connections to a few real estate agents that have been successful in their craft (one is the top real estate agent in their company they work for and the others are entrepreneurs) and have yet to discuss with them but I just would like to know if anyone has any helpful advice for someone who has absolutely no experience of being out in the field.

Do I get a mentor? Do I go into it by myself and learn as I go along? Will people actually purchase/rent/lease a property from somebody who is only 19? Or even common misconceptions about real estate? (One extra question, if I invest into a house and it’s not going well and I need to back out of a financing deal I’ve made with the owner of the residence will I be able to easily?)

Thank you for any responses and advice I really appreciate it.

[Pat G.]

@Christopher Raiz Congrats on the achievements thus far. Great advice so far. Here is what I tell people when they ask me the same question:

Step 1: What are you targeting?

• Residential
• Commercial

Step 2: Now narrow your focus more: Example if Residential -Wholesaling, Foreclosures, rental, Lease Options, etc.

If commercial Apartments, Billboards, Cell Towers, Tax Overages, Self-storage, Mobile Home Parks, Etc.

Step 3: Go on iTunes and listen to all relevant podcast for your interest.

Step 4: What State(s)?

Step 5: What areas in that state (s)?

Step 6: Write it down - Example I do residential foreclosures in the Southeastern Michigan cities of Allen Park, Ferndale and Royal Oak. 

Step 7: Tell everyone you know or run into what you do.

Hope that helps and good luck. One more thing - don't be afraid to fail!