19 years old - interested in multi-family

[Lukas James]

Hi,

I am 19 years old and am getting ready to reap the rewards of an investment I made with my business partner/bestfriend. I will have a lot of cash to invest. Although, I have really no real history of significant income. Do I need a few years of income to show, in order to get a loan & buy apartment buildings? If so, I may have to wait to buy.. But I’ve also heard around that you can use the projected income of the building I would buy to qualify for a loan. Any knowledge is great.. thanks so much!

[Jeffrey Donis]

Hey @Lukas James. My name is Jeffrey. My brothers, Kerwin, and I are also 19 years old. We work alongside our older brother Kenneth, who is 22 years old. We are currently in apartment syndication. It's awesome to see another young person interested in apartment syndication and commercial real estate. Feel free to DM me so we can connect!  

As far as advice, for us, education and networking has been critical to our success. We've met so many people, and we are still learning everyday. We recommend finding someone who is doing the business at the moment, and find a way to bring value. This will likely be helping them raise capital, because you might lack the experience or credibility needed to get a deal. If you know brokers, or don't might cold calling them, then that might be a good long play to find your first deal. But, I recommend focusing on learning the business, and finding passive investors. Passive investors will bring money to the table, and many larger, more established syndication teams will not turn down a young person like yourself willing to learn AND bring value in the form of a pool of investors.

Hope that helps. Let me know if you want to hop on a call.