Young real estate man with big goals

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Young real estate man with big goals

Jordan Locklear
Georgetown, TX · Member since 2016 · 1 post · 3 votes

Hello, I'm Jordan and I am 21 years old. I just recently moved to Austin, Tx. I realized my passion for real estate about a year ago when I hit rock bottom as a 20 year old. No job, no money, no place to live, nothing. I was able to find a part-time job but then just recently quit to take this on full-time.

Technically, I don't have experience in real estate, but my dad used to be a real estate broker and owned his own construction company so I know more than your average new kid.

I'm wanting to get into flipping houses but I don't know where to even start. I want to know everything there is to making money in real estate and how to create a future for me in this business. I know it's not going to happen over night, I'm in it for the long haul.

I'm excited to explore this new realm of knowledge with other people just like me on here though. And any advice for this newbie would be greatly appreciated!

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  • David Ferrette
    Developer · Austin, TX · Member since 2014 · 266 posts · 110 votes
    10y

    Jordan,

    Welcome to BP.  I would start out by reading the BiggerPockets Ultimate Beginners Guide in the link below.  After that, start with BiggerPockets podcast #1 and work your way up.  The guide and the podcast are both informative and entertaining.  Good luck, Georgetown is a great city, I actually one a rental property up there.  

    https://www.biggerpockets.com/real-estate-investin...

    0Reply
  • Anthony Brown
    Austin, TX · Member since 2013 · 9 posts · 3 votes
    10y
    Welcome Jordan! We are in the same boat. I decided to pursue real estate (part time) while I work a full time job. As another poster mentioned, reading the beginners guide will be a great start. Also listening to podcast and reading the forum can increase your knowledge fast. Good luck with your RE career!
    0Reply
  • Solomon Young
    Oakland, CA · Member since 2016 · 26 posts · 9 votes
    10y

    I have not read the book yet but there's the BP book by J Scott called "The book on flipping houses."

    Pretty much start with getting the knowledge you need to flip a house. Study your market, attend open houses, immerse yourself as much as you can. Most importantly write out some goals/game plan plan then start taking action. Your dad would be a good mentor and access to a wealth of knowledge -- everything else he may not know you can ask questions here on BP.

    0Reply
  • Sydney Hall
    Home Stager · San Luis Obispo, CA · Member since 2016 · 312 posts · 49 votes
    10y

    good morning jordan, welcome! this is the perfect place to start! newbie here too. just wished to introduce myself. formerly from washington, dc, i'm just getting started in the staging arena in california and i'm looking to make some connections as well. thanks and sincerely, sydney

    0Reply
  • Paul Timmins
    Specialist · Rockland, MA · Member since 2010 · 7k+ posts · 2k+ votes
    10y

    @Jordan Locklear

    Welcome. 

    Locate and attend 3 different local REIA club meetings great place to meet people gather resources and info. Here you will meet wholesalers who provide deals and rehabbers (cash buyers). Find them through Google and meetup.com

    You might consider Niche or Specialized Housing like student housing. Rents can be 2-4 times more. Remember you don't have to own a property to control it.

    Download BP’s newest book here some good due diligence in Chapter 10. Real Estate Rewind Starting over

    http://www.biggerpockets.com/files/user/brandonatbp/file/real-estate-rewind-a-biggerpockets-community-book

    Good Luck

    Paul

    0Reply
  • Ian Tudor
    Specialist · Charlotte, NC · Member since 2013 · 260 posts · 245 votes
    10y
    Jordan Locklear love the post man. I was just in Austin a few weeks ago and it's a sweet place. I'm a few years older but essentially doing something similar. I'm quitting my job in October and going full time into my new company. I currently own no properties. For starters, there is an old adage in real estate that if there is a deal the money will come. This logic applies if you are established but make your investor and team connections earlier. Have everything in place and be ready for your first deal. A seasoned investor told me this last week and it makes sense. It comes off professional.
    0Reply
  • Austin H.
    Investor · Marshall, TX · Member since 2015 · 19 posts · 2 votes
    10y
    Glad to hear you have goals, many people your age don't. Hit rock bottom a year ago and already quit your job? Chances are you don't know what rock bottom is. Disclaimer:i don't either, fortunately. My advice is to get a job and keep it. Make sure it is something applicable to a career in real estate. Steady income and credit is what builds a career in real estate. Many people think you can survive on no job and no money, with ambition. Some people do, most don't. Vast majority of people don't become successful overnight, it takes long nights, heartaches, bad decisions, some good decisions, a little luck, perseverance, CREDIT, some money and dedication to become successful. Just remember success is in the eye of the beholder not others around you. Again get a job and work on real estate on the side. If you are planning on wholesaling, that's a job that you spend money on, not an investment.
    0Reply
  • Chris Virgil-Stone
    Rental Property Investor · Cape Coral, FL · Member since 2015 · 206 posts · 83 votes
    10y

    Welcome @Jordan Locklear. While I definitely would not suggest quitting your job to take something on, on which you still have much to learn, you are in the right place. Read, read, read, and then read some more. Books mostly and this site is great. Learn from other's experiences but also their success stories and then learn your market. You don't need cash, just a strong will for something you believe in and a heart that won't quit when the going gets tough,

    0Reply
  • Tiffany Clay
    Indianapolis, IN · Member since 2016 · 75 posts · 8 votes
    10y

    Welcome to BP! Well, since you have quit your job it sounds like you need cash quickly...trying to buy more education is probably not a reality right now. I would advise using your free resources to reach out to local RE investors and see if you can work for a few of them. While your working for them (maybe putting out bandit signs or whatever they need) you will be learning the business, potentially becoming an student of theirs and making a little "right now" money. (FYI wholesalers normally could use a little extra help)...hope that helps.

    Happy Investing!

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