Soon to be College Grad, Where do I start investing?

Question

I want to make sure I start my investing right. What should be my first step to investing in real estate? I'm 21. Am I too young to get any respect in this area?

Account Closed · Answer

My biggest regret in real estate is that I didn't start younger.  Respect will come over time when you show that you are a doer and not just a talker.  Nothing like have a few deals under your belt to prove you know what your talking about.

Scott R. · Answer

Hell no! The earlier you get involved the better IMO!
I'd get ahold of Bryan Alenky either on here or facebook, I'm pretty sure he's I'm your area and a very successful investor for his age!
 Good luck!

Brad F. · Answer

No, you are not too young. I started at 23 and am 24 now. In my experience, people will be surprised and not take you seriously at first. Once you can get some rapport with people you interact with, I think there is more respect given to you because of the fact that you're starting so young. Ultimately, knowledge is power and you can compensate with your lack of experience by learning more, faster about what you want to invest in. Leveraging the experience on this forum to start would be a good idea.

If I was to do it over again, I would start by buying my first, primary residence as a multiplex, three or four units. Not only does it let you live for "free", but you get property management experience as well.

And - make sure your credit is pristine.

If I was to do it over again, I would start by buying my first, primary residence as a multiplex, three or four units.  Not only does it let you live for "free", but you get property management experience as well.

And - make sure your credit is pristine.

Account Closed · Answer

Welcome Keela..my answer is simple..if you do what you say you're gonna do people will respect that...i started young, and still look like i'm 16 when i shave btw..some people looked at me funny at first, and some still do..but when someone needs to sell a property, and you're there to buy it and close, they'll respect it and come to you again, regardless of age..similary, if they see you building a reputable portfolio of rentals, or a successful flipping business, they'll repsect that as well..i do honestly think it's a bit tougher for a younger person to earn that respect, but you can make it a lot easier on yourself by following through with every little thing....return phone calls, christmas cards to attorneys, lenders, etc. thank you cards..whatever it is...good luck :)

Account Closed · Answer

Thanks for the info!

I posted this blog about 2 months ago and since then I have been reading alot into real estate investing. I would like my first flip to be a single family home, however, I'm interested in rental properties also.

Account Closed · Answer

Thanks everyone!

I don't even know where to start. I'm learning slowly while I'm still in school but I don't know what are the different areas of real estate investing. Are there any books that can help me?

My friend is trying to sell her old home. It's a double wide trailor and it's nice on the outside, might need a few touchups but it's a deal. Should I go ahead and get started or wait a while and look for other opportunities?

Scott W. · Answer

if you have any credit card debt, get rid of that 1st. you won't beat those returns - & it'll make it even tougher to get a loan.

buy a duplex with an FHA loan (3.5% down) & rent out the other side. when you wanna move up, rent out the other side & buy a small SFH for yourself. then, rent that out.

make sure the #'s work.

Dave Van Horn · Answer

Try distressed debt.  It took me 20 years to figure that out.

Ross Schneider · Answer

Learn as much as you can as quickly as you can.  Try and shorten your learning curve and you will be just fine! Do a lot of research.  The best way to learn is to do.  When you are this  young it is okay to make mistakes because you can learn form them and it is part of the experience.  Don't be afraid to take risks, the older you get, the harder it is to take those risks.

Jeremy M. · Answer

I'm also in the same boat, 22 just graduated, getting started in trying to flip REO's. Just got my RE license to help out. But your right, when I go to my local REI club, it feels like everyone is kinda looking at me like "what is this kid doing here", because I really look like I'm 17. But yea read a bunch of books, learn from others, and work hard and we should be good :)

Soon to be College Grad, Where do I start investing?

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