All Forum Posts by: Kylie A.

Where are you located? The best banks that I have found based on your main concerns are smaller, regional, community sized banks.

If banking fees cut into your profit, your profit isn't big enough.

@Kylie A. How's it going! Look, if you are looking for a bank with "no foreign wire fees" thats quite a stretch and I'd advise tossing that idea out as it will keep you on the sidelines. 

With that said, choosing your bank based on customer service relationships and business credit products should be a priority. if you’re looking for a bank that offers great service and lower wire fees, I’d suggest starting with NFCU. The credit unions tend to have lower fees and offer solid business products. Plus, they’re known for personalized service. Yes you can get in without "military" involvement. 

Next up, Wells Fargo is a solid option for building a relationship with a bank that doesn’t treat you like a number. They also offer solid business credit products and their new CC offers 0% interest. Chase also has good CCs at 0% interest also, but you’ll need to meet their 5/24 rule for approvals. Should you decide to shift your requirement focus the above suggestions would be a good place to start.

The best bank is the one that you will use. You are procrastinating on the smallest of things which means you may lack the confidence to do what you are planning to do. Chase or B of A or any bank isn't going to be much different than each other. You are micro-analyzing the minutia of each offering, but that's not really the issue. Those things won't matter if your business crushes it.

I suspect part of this is due to the overwhelming amount of information you are exposed to. Everyone talks about their success, especially the young YouTubers. They bought 72 houses in six months at the age of 23 and now drive their Lamborghini to their castle where they party with P-Diddy and drink champagne all day. How can you possibly match that?

Read some books. Network with other investors. You will quickly learn that real estate investing is simple. Save money, buy a house, rent it out, rinse, and repeat. You could try to buy a bunch of houses quickly, or you can buy one house every 5-10 years and still build some really good wealth.

I highly reading The Small and Mighty Real Estate Investor from Chad Carson. He has a website to get an idea of what he's like. Listen to The David Greene Podcast on YouTube or Spotify or Apple. He's a solid teacher that talks about the good and bad of investing.

You’re definitely not alone in feeling this way—success and the pressure to achieve it can bring a lot of anxiety, especially when you’re just starting out. The fact that you’re aware of it and taking small steps is huge! A lot of people deal with the same fear of taking the leap. Try focusing on one small, manageable task at a time, like researching one specific part of wholesaling, so it doesn’t feel overwhelming. Consistency comes with time, and you’ll get there.

It's rational to be scared of success when you are so young and don't know the steps to take to get there. First, you have to know there are a lot of different steps and often they are down a wrong path, this is learning. Second, you need to surround yourself with others who want the same thing. You need to go to real estate investor meetups and make friends. I bet you don't have any friends who want to do this at your age so when you tell people about your dreams they say it's crazy. It's not, but you have a long way to go.

At 23, you should be working as much as possible to set the financial foundation for yourself. You need people though to get the confidence to do it, not money.