I really want to start out real estate but idk the first step

Starting Out
7yFollow

I really want to start out real estate but idk the first step

Evan Pugh
Member since 2019 · 1 post · 0 votes

I’m 19 years old and I don’t know anything about this trait,except I want to do it. What would be the first thing I do to get a step closer to my goal ?

0Reply
47 views

Most Popular Reply

Rachel JacobsonPro Member
Rental Property Investor · Member since 2019 · 41 posts · 53 votes
7y

Hello Evan,

Do a self-assessment where you ask yourself where you want to be in 5 years, 10 years, 20 years. Do you see yourself doing this full-time? Or do you want a job to pay the bills while you save up enough for a downpayment on an investment property? I know many people who "house-hack" to start off and then buy other properties after a few years of doing that. There are lots of ideas out there, but whatever you decide, make sure it fits with your personality and interests. 

Good luck!

1Reply
See this reply in the discussion

6 Replies

Jump to latestLatest
  • Cory CarlsonBusiness Member
    Real Estate Broker · OR · Member since 2018 · 311 posts · 226 votes
    7y

    Read and educate, pick a path and work backwards. If you want to be a broker that helps people buy homes, start with getting your license. 

    If you want to help people manage their money and investments. Get educated and also get your brokers license. 

    It also helps to find a mentor and a path that coincides with your skills. If you're good a finance and like it, then perhaps investment is for you. If you are very personable, are good at networking get on a team and start in residential. 

    Those are just a couple very generalized options. If you just want to invest in real estate and are looking for passive income, get into your career first and start making good financial decisions NOW. 

    503-222-0282
    Constant Commercial Real Estate Inc543 Reviews
    WebsiteView Page
    0Reply
  • Cory CarlsonBusiness Member
    Real Estate Broker · OR · Member since 2018 · 311 posts · 226 votes
    7y

    accidentally double posted. Anyways, send me a message if you have any questions. 

    503-222-0282
    Constant Commercial Real Estate Inc543 Reviews
    WebsiteView Page
    0Reply
  • Kevin Dean
    Rental Property Investor · Chantilly, VA · Member since 2017 · 104 posts · 149 votes
    7y

    Hey @Evan Pugh, its really tough to know exactly what you want to do for the next few years, even within real estate, so don't beat yourself up if you aren't sure about the specifics yet. Continue to educate yourself as much as possible. Meaning books, networking events, taking others out to coffee and podcasts every time you're in the car, working out, grocery shopping, etc. If you consume enough information, you will start to notice specific avenues that both appeal to you, as well as align with what your current strengths are.

    Then, just start. It's very normal to course correct your strategy as you discover more information and meet new people. The worst thing you could do, is do nothing. In my opinion, the opportunity cost of doing nothing while your young will compound for years to come!

    So in sum....

    1. Educate yourself

    2. Network AS MUCH AS POSSIBLE

    3. Pick a strategy

    4. Go all in on that one strategy

    5. Collect information and learn as you go

    6. Course correct as needed

    7. Don't stop steps 1 through 6 until you get to where you're trying to be

    Best of luck and let me know if you need anything specific!

    0Reply
  • Joseph A.
    New Rochelle, NY · Member since 2018 · 235 posts · 151 votes
    7y

    @Evan Pugh Read as much information as you can on the different types of things you can do in real estate. Figure out what path you would like to take and if you have any skills that can apply to your real estate strategy. Go to a local meetup and meet the people that are doing what you would like to do and ask questions and possibly partner and mentor with them.

    0Reply
  • Rachel JacobsonPro Member
    Rental Property Investor · Member since 2019 · 41 posts · 53 votes
    7y

    Hello Evan,

    Do a self-assessment where you ask yourself where you want to be in 5 years, 10 years, 20 years. Do you see yourself doing this full-time? Or do you want a job to pay the bills while you save up enough for a downpayment on an investment property? I know many people who "house-hack" to start off and then buy other properties after a few years of doing that. There are lots of ideas out there, but whatever you decide, make sure it fits with your personality and interests. 

    Good luck!

    1Reply
  • Joseph Walsh
    Brookfield, WI · Member since 2016 · 191 posts · 108 votes
    7y

    have you started with the resources available here on BP?  

    I'd start with the REI tools: particularly, this one.

    Then lurk on the forums, and listen to the pod casts.  It can really help you possibly narrow down where you want to try and focus to start.  Being only 19, I would think house-hacking might be a starting point.  But only you can decide what makes sense. 

    0Reply
Join the conversationCreate a free account to reply, vote on answers and follow this thread.
Log InJoin for Free