A reflection on my 20s...

[Kimberly T.]

This isn't a post about a specific success, more like the mini-successes we've had so far on our road to our big success.

As today comes to a close, so will my 20s, and with that, my sense of youth. Sure, as far as real estate investors go, I'm still pretty young, but it just isn't the same saying "I'm a real estate investor" when you're in your 30s as it is when you're only twenty-something.

Our successes to date include buying our first house one month before our wedding (REO, needed some work - isn't that what women want to be doing the last few weeks before their wedding?!), then a local triplex 2 years later (so exciting but so scary to have tenants), then a fourplex in another state the following year (crash course in learning to vet PMs), then another fourplex last year next door to the other fourplex we already owned (always nice to have more control over neighboring properties - and their tenants). We've certainly learned some lessons (don't ever compromise on your tenant screening criteria, not even a little bit), and had some major unexpected expenses ("Hello, insurance? What's that, commercial policies don't cover damage caused by sewer drain lines deteriorating to the point of leaking sewage down into the kitchens below? That's ok, we'll pay for the repairs ourselves, we didn't want that $23k anyway."), but fortunately we're young enough still to absorb these and be able bounce back.

We're looking ahead, though. Looking to buy in other states, trying to absorb any info we can about what to learn about those states. We're looking forward to other milestones as well, like starting a family, me being able to afford to be a stay at home mom because of our extra income from our rentals, and moving out of CA in the next few years. Yes, our 30s seem likely to be even more eventful than our 20s, and for that I'm excited.

So how about you? What are your reflections on where you've been so far in real estate, and where you're going?

[Jean Bolger]

Happy Birthday! So nice to hear a positive spin on the mini successes that make up big success in the end. You totally have it- it's a process, and usually not a speedy one.

You are lucky to have discovered your passion for RE in your 20s. It didn't even occur to me that I might actually be able to own a house (much less an investment property) until I was in my mid 30's. Now that I am 50 the benefits of my investing are really starting to kick in. I am still going through the same lessons that you describe though- every new endeavor is an adventure.