A 19 Year Old's Take On His Own Future In CRE Investing

[Gabriel Spinella]

Greetings BiggerPockets’ forum, my name is Gabe and I’m new to the forum. I am 19 years old, from Bergen County, NJ, and currently attending Baruch College as a real estate major. I have had an interest in real estate since I was in 5th grade and is what I want to be a part of for the rest of my life. I and most of us, already know that the industry of real estate is the best industry to be in.

I have some family members and family friends who either invest in residential properties on the side of their job, or they own and operate their own real estate investing/development company. So, I guess my subconscious was primed to become a commercial real estate investor. I first began by watching YouTube videos, which eventually led me to read “The Book On Rental Property Investing” by Brandon Turner. I then read two other books and mostly during class while in my junior year of high school: “Build A Rental Property Empire” by Mark Ferguson and “What Every Real Estate Investor Needs To Know About Cash Flow” by Frank Gallinelli. After I finished junior year, I interned for a small real estate investing company in the area that my father was acquainted with, which owns over 100 million in assets by value.

During my time interning, I spent about a month doing whatever work was given to me. At first, I was updating property information in the software they used (Rent Manager). I updated property information with block/lot info, pictures, and generally organized what was going on within the system. I did all of this quickly as any young kid who is technologically able could, and the company controller who I was working under was impressed by my speed of completion. Eventually, I began receiving harder tasks, making my way to meet with the CFO. He let me know I was doing a good job and wanted to show me something. He opened the coolest-looking excel model for a prospective property they were looking to buy out-of-state. Little did I know I was looking and learning about a dynamic excel model that I would need to start making on my own down the road.

The firm was made up of no more than 10 people and was exactly what I wanted my future to look like… owning a small but successful commercial real estate firm that could bring me and whoever I want freedom. During my time, I did not learn a lot of what I wished for, but I was able to generate a lot more interest/passion for my future in real estate.

Since then, I took my 75- hours of pre-licensing for a license in NJ upon high school graduation. I took the school test, passed, but decided not to take the state test because I discovered it was not what I wanted to truly do. At first, my plan was to become an agent and sell some real estate while I’m in college, gaining experience and money. I figured I don’t want to be on the brokerage side or selling real estate as an agent. I want to be the investor and take the experiences and opportunities to learn towards reaching what my end goals in real estate are. Although, I am happy I took the pre-licensing because I do have a lot more knowledge and understanding of processes, documents, laws, etc. Anyways, taking the course was a win regardless.

During my freshman year of college, I joined a club called Baruch Real Estate & Finance Club. The club holds weekly meetings that educate and assist those looking for a career in real estate. Club guests join us on zoom and talk about their career and answer any questions. The club has had a lot of representation from companies like Cushman & Wakefield or Blackstone to a successful sole proprietor investor. During the second semester, I applied to become a member of the mentorship program that allows participants to learn and develop resume, interview, and network skills, along with learning and applying technical skills such as real estate accounting and valuation fundamentals. Here is where I began recounting my memories of my internship with the jolly excel model.

This path of education and experience is more along the lines of corporate real estate, which is why I chose this over pursuing my license and residential real estate endeavors. Plus, after being a part of the club and learning so much more about corporate real estate and that side of the world compared to what most people think when they hear real estate, which is the “residential or real estate agent” assumption.

Then, I figured my next path to my goals was to follow within educating and experiencing the corporate/commercial side, not including brokerage, although I know it is an aspect that is extremely important. So, I figure, I take the asset manager/acquisitions analyst route. This means I graduate and begin a career with a firm. Ideally, I go through as an analyst, then associate, manager, etc. This way I can be making solid money, growing my capital, receiving more bonuses, more experience, more knowledge, more connections. It is possible I work both sides under asset management and acquisitions which will only enable me more. Eventually, the goal is to take what I’ve learned and make my own company, and eventually live the way I dream of.

And as of now, I am just re-directing my focus to my career in real estate, seeking out the help of the biggerpockets forum. Currently, I have access and have completed some of the Adventures in Commercial Real Estate Accelerator Program, an extensive real estate financial modeling course, covering topics and modeling such as direct cap, key risk/return metrics, income statements (retail, hotel, office, multifamily, industrial), leases, waterfall models, acquisitions/development models, etc. I have yet to complete this, but I will.

From here, I would like to ask what others suggest I do. I am currently seeking a way to make money in real estate while learning to put myself on the proper path to success. There is a lot more to say, but I hope you understand the gist of what I am seeking.