Any tips for a new real estate investor that is 20 years old?

[Chandler Burns]

Hi Everyone!

My name is Chandler and I am 20 years old. I am getting into real estate investing and was wondering if any of you have any tips for me? Thank you so much for your time!

[Kevin Dean]

Hey @Chandler Burns, here are a few things that have helped me grow. 

1. Education. Every time you drive, workout or do other mindless tasks is an opportunity to listen to a podcast (on 1.5X speed). These can be related to a number of topics, all of which you can draw valuable lessons and apply to your real estate business. 

Here are a few examples of podcast topics that I attribute my growth to: podcasts about the stock market, startup companies, private equity, general business, general investing, sermons, history, personal finance, personal development, real estate and technology. All of these can inform you in ways which will move your towards your goals. 

2. Networking.  Every day will present at least one opportunity to meet somebody new as well as build on previously established relationships. No need to expand on this, I'm sure you recognize the power in building relationships. 

Actually attending business and real estate specific networking events is also a useful way to increase your odds of success in real estate. You can meet lenders, legal professionals, accountants, property managers, investors, potential partners and other real estate professionals which will help you grow your business. Surrounding yourself with experienced investors who are where you want to be is powerful. 

3. Increase your income from your day job and decrease your living expenses. Having a cash cushion with minimal expenses will give you options when you most need them. 

4. Figure out what's most important to you and how real estate feeds into that passion. If your business goals aren't rooted in something deeper than success itself, you will burn out and give up too early. 

5. After educating yourself, pick one investment strategy and get really good at it. By the sounds of it, you aren't locked into a specific strategy yet. So as you grow your real estate knowledge you will most likely gravitate towards one specific strategy. Don't let shiny object syndrome get the best of you. 

Hopefully this will give you a few ideas as you get things rolling, let me know if you have any specific questions. I focus solely on multifamily and can be a resource if that is something you are hoping to learn about!