I want to begin real estate and I am 19 years old.

Starting Out
6yFollow

I want to begin real estate and I am 19 years old.

Gabe Guerrero
Member since 2020 · 1 post · 1 vote

My mother has 3 rental properties, and our current home. She has done fairly well for an immigrant into the US from MX. I have always seen her juggle these 3 houses and recently, this last Easter my spark for real estate has begun. I have been listening to the BP Podcast (one a day), have been watching Graham Stephans videos, ordered The Snowball and Rich Dad Poor Dad (in mail) and been breaking down the podcast episodes with my mother. I know that it is a hard working career and not easy as the gurus make it seem. I am doing my best to gain as much knowledge as possible but I want to know from y'all what are something you know now that you wish you would've known at 19. What are some things you recommend me do now? I am saving any money that I get, and one of my goals for the future is to be able to quit the rat race and have my properties do the heavy lifting for me. Thank you to anyone who responds, I assure you it is much appreciated.

1Reply
29 views

Most Popular Reply

Ujwal Velagapudi
Investor/Agent/Entrepreneur · Dallas, TX · Member since 2016 · 464 posts · 564 votes
6y

I wish I would've started investing, or at least working to some extent in the RE market when I was 19! Props to you man for having that click at such a young age and the drive to want to learn more, it definitely starts with that enthusiasm!

I think I learned the most from simply doing every single aspect by myself, out of necessity. From contracts, to showings, lease signings, property management, etc. You have a great opportunity here with your mother owning the 3 rentals, where you could offer to give her some support by handling a few key tasks for her. Ask her what her pain points are, what areas she is struggling with, and try to make them more efficient. I have no doubt that you could manage those 3 properties yourself with some supervision from your mom in a few months. You'll make mistakes, but make sure you log those, understand why you made them, and prevent them in the future. 

Once you feel like you can take on more responsibilities, I would suggest working as a property manager and helping other landlords in the area, coordinating renovations for investors, taking pictures/videos for out of state investors, etc. There are many people in your local real estate meetup groups as well as BiggerPockets that are looking for honest people to help them with tasks. Build those relationships, and eventually those could turn into equity partnerships. 

Best of luck Gabe!

2Reply
See this reply in the discussion

6 Replies

Jump to latestLatest
  • Ujwal Velagapudi
    Investor/Agent/Entrepreneur · Dallas, TX · Member since 2016 · 464 posts · 564 votes
    6y

    I wish I would've started investing, or at least working to some extent in the RE market when I was 19! Props to you man for having that click at such a young age and the drive to want to learn more, it definitely starts with that enthusiasm!

    I think I learned the most from simply doing every single aspect by myself, out of necessity. From contracts, to showings, lease signings, property management, etc. You have a great opportunity here with your mother owning the 3 rentals, where you could offer to give her some support by handling a few key tasks for her. Ask her what her pain points are, what areas she is struggling with, and try to make them more efficient. I have no doubt that you could manage those 3 properties yourself with some supervision from your mom in a few months. You'll make mistakes, but make sure you log those, understand why you made them, and prevent them in the future. 

    Once you feel like you can take on more responsibilities, I would suggest working as a property manager and helping other landlords in the area, coordinating renovations for investors, taking pictures/videos for out of state investors, etc. There are many people in your local real estate meetup groups as well as BiggerPockets that are looking for honest people to help them with tasks. Build those relationships, and eventually those could turn into equity partnerships. 

    Best of luck Gabe!

    2Reply
  • Julian Farfan
    Miami, FL · Member since 2020 · 2 posts · 0 votes
    6y

    Hi @Gabe Guerrero, 

    im here in kind of the same page as you, my mom and i are immigrants from Colombia and i came to the US when i was 19. i wish i would have had that spark 10 years ago. My mother also managed to buy 2 properties in the las 2 years. However, Now at age 29 i still feel confident that i will make it. 

    I may not have much experience in the real state but what im certain of is that at 19 you can learn and stack up cash as much as possible for some time and even if 5 years pass you will still be able to find hundreds of deals if not thousands and you will have plenty of experience.

    Learn and Save is my advise.

    Keep that spark on and allways be possitive. 

    PD: if you find a good deal and everithing works out for you go for it, at your age no need to rush. 


    Be safe

    0Reply
  • Michael Ohara
    Investor · HI · Member since 2017 · 328 posts · 124 votes
    6y

    Have you considered getting your license and working for a broker? Seems like a great opportunity to learn all aspects of the business, in addition to helping your mom.  All the best.

    1Reply
  • Matthew Sewell
    Real Estate Agent · Oakland, CA · Member since 2020 · 4 posts · 1 vote
    6y

    @Gabe Guerrero You’re in an awesome position! Your mom has managed to buy three properties. I would start off by asking what, what the process is like, what she wants to avoid, what kinds of things she looks for when investing, and find the best ways to get her what she wants and the best ways to avoid what she doesn’t want... I would also find out what ways you could help her save and make money. These will be tools you can use moving forward, and might help you find an area you love and want to jump into, or areas you hate and want to avoid. You’re in control my man, have fun & take care of moms!

    1Reply
  • Vanesa Gonzalez
    Rental Property Investor · Miami Beach, FL · Member since 2017 · 105 posts · 59 votes
    6y

    @Gabe Guerrero It depends how aggressive you want to be with your plan! The #1 thing in Real estate is that you need money. It can be yours or your partner but you will need cash at some point. So I would find a local investor and work for them, learn how to find deals and get a commission for that. You would be learning the process and making good cash for your own investments.

    All the best!

    0Reply
  • Nick Rutkowski
    Rental Property Investor · Ithaca, NY · Member since 2015 · 1k+ posts · 1k+ votes
    6y

    @Gabe Guerrero

    Go manage your Mom’s properties for her. For free as well, because we all love our moms and real estate. Then you can get real experience on what it’s like being a landlord. Books and classes are great but real life experience is better. Who is a better mentor than your mom?

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