Did any of you start investing in property in college?

[Peter Haymond]

I'm working two part time jobs (one at a mattress store on the weekends, another for a realtor) plus I'm taking classes this summer in college. I do my best to study real estate in my spare time and my parents tell me that now is not a good time to invest.

They want me to wait until the market goes down again before investing with them. Eventually I'll run my own business doing real estate but it can be frustrating...sitting here on the sidelines making little money while I keep reading about deal after deal online.

Do you have any advice how I can break out of this trend? I'd love to find a mentor doing real estate investing here in the East Bay. I'd appreciate any insight you have.

(Btw...I'm going to structure my business around wholesaling or rehabbing REO's with private lending money with the help of my parents...I'm only 21 right now)

[Christine S.]

I bought my first property when I was 18 and it was a condo for 121k near the beach. My parents co-signed on the loan. I was in college taking night classes and worked 50 hours a week in a RE office. Learn everything you can from the people around you and read the wholesale/short sale forum here. Educate yourself. The market is still dropping in California but a good deal, is a good deal. Talk to some transitional lenders and understand wholesaling on how those programs work. This business is lots of work but pays great when you have success.