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Updated over 5 years ago on . Most recent reply
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21 year career firefighter looking to make the switch to RE !
Im 21 years old and currently a firefighter in the Hampton Roads area Va. Im looking to getting my RE license the beginning of the year? Any guidance, Do or Don'ts. Just looking to see what you guys would have done different or have done starting at my age in the game. When selling real estate i would love to reach out to buyers my age who understand the investment of owning a home and wanting to have young people well educated on the process of buying home and understand there long term investment.
Most Popular Reply
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Hey Kaven welcome to Bigger Pockets! You are the perfect age and have the perfect profession! Here is an outline for you:
1. Max your deferred comp every year
2. Work as much OT as you can and put every penny of OT away in an account
3. Live off the money you make without OT (make sure you can live off of the money you net without OT) In plain language this means don't go out and buy jet skis, a boat, a BMW and a time share in Cancun.
4. Live in the most modest place and drive the most modest you can that your lifestyle will allow
5. Make sure to build and protect your credit (pay your bills on time no matter what I don't care if you have to starve never make a late payment)
6. Get educated here on BP and learn the many vehicles you in your real estate investment journey
7. Read financial literacy books- The richest man in Babylon, rich dad poor dad, and your magic power to be rich
8. Attend some local Real Estate Investor meetups
9. Figure out your plan, check it twice, check it three times then get on your way
10. Don't rush, Don't be impatient, but be prepared for when the deal falls into your lap
Life is long and your career choice works well with investing in real estate. In 20 years if you follow these guidelines you will not want for anything. Believe me it works!!!
Good luck and if you have specific question DM me and I will try my best to answer them.