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Updated about 9 years ago on . Most recent reply

Account Closed
  • Investor
  • Madison, WI
35
Votes |
51
Posts

Developing Credibility as a young African American Investor

Account Closed
  • Investor
  • Madison, WI
Posted

What's a good way to establish credibility when you're young (22) and talking to sellers? 

I know some people may be skeptical when they see a relatively young investor I feel that's the biggest barrier to overcome. I'm doing rehabs, rentals, wholesales (sometimes), etc. 

I know this a sensitive topic but I had to bring it to the table. 

Most Popular Reply

User Stats

530
Posts
741
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Joel Florek
  • Rental Property Investor
  • Michigan City, IN
741
Votes |
530
Posts
Joel Florek
  • Rental Property Investor
  • Michigan City, IN
Replied

@Account Closed

I am 22 and own a 4 unit and currently closing on a 16 unit. Started 7 months ago. Make sure you do your due diligence in trying to learn and have quality questions lined up for conversations with lenders investors and builders. You don't know everything so don't act like it. Show your interest but don't talk like your going to take over the world.

Actions speak louder then words. People take you seriously when you make deals happen. Some will pass you by but figure out a way to close the deal and you will be surprised how they will come back ready to work with you on your next deal.

Be ready to present materials that show your plan as well. I'm not talking about a 30 page business plan but have good outlines of your deals, financials, and understand the market. It amazes me how little it takes to impress your bankers and getting them ready to do a deal with you.

And I apologize if I am hitting a soft spot here, please don't take offence. I am not trying to pick a fight, just giving my two cents. But race shouldn't be a factor at all, maybe it is in your area. If so that's really unfortunate and I would suggest moving to a different part of the country. Dress professionally, learn the game so you can talk the talk, be respectful and other professionals in the industry will treat you with the respect and attention you deserve. In my opinion by even writing the tag line you have puts a block in your own head that says the odds are stacked against you even more then being young. I think it should say "developing credibility as a 22 year old investor."

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