I am new in real estate and overwhelmed

[Elena Redmond]

Hello everyone! For a long time (and I mean years) I have been interested in real estate. I would always think of all the flashy houses I would have, and always dreamed of building my own building in London, UK. In the past few months I have delved into real estate more - I have read countless books and have read countless forums both on BiggerPockets and the UK's version (Property Hub) but I have reached a roadblock - I am scared.

I'll go into context. I am 20 years old and have been living in London for the past few years. My age, whilst not a problem for me, means that many people don't take me seriously. These people are people I work with, and friends and family. To them, being an "investor" is neither possible nor an option. Why would I leave a really good job, with good salary, to jump into the unknown where none of them have been or know nothing about? I am slightly ashamed to say that some of their uncertainty has rubbed onto me.

Also, I live in LONDON, where the average property price is OVER £500,000. How am I meant to find a good deal? Again, my dear friends, family, and co workers have been quick to point that out, and mention that there is little chance of making any money with prices so high.

On my spare time I like to read books, and I have read so many on real estate that I lost count. I like to ignore these comments and pass them off as ignorance, and to do so I have immersed myself in my education. Thankfully, my partner is my real estate buddy - we are confident we will make it in real estate, and are refusing to listen to any negative talk. I realise that reading one book after another isn't the way to make it in this exciting world, so I am looking to prepare for my next step.

I would like to buy my first rental property by the end of the year, and move on from there. I am hoping to find a mentor that can guide me through this tough market, and can show me the best way to finance deals with little or none of my own money.

Just to end this, I would like to take a moment to thank everyone on this site that takes time out of their busy lives to post their stories of successes and failures in this market. All posts are inspiring, and the positives far outweigh the negatives. Thank you for reading thus far, and any comments or tips will be greatly appreciated. 

Elena

[Charles Maxwell]

Good advice from Brit. Mentors can be invaluable education in real terms and not just what can be written in a book. Do not give up your job as the income will be useful when looking to gain finance. Work hard and use all you have learned in the books. Go to events and meetings and speak to other people as they can help just like mentors. There are several property meets in and around London with speakers on many topics. As useful as the speakers are the people who go to the meets are just as useful, if not more so, so go and ask everyone at a meeting 'How can i help you?' and the question is often reciprocated and you will find luck and a mentor or a JV partner that needs what you have to offer.

DO NOT GIVE UP. You can do it.