All Forum Posts by: Account Closed

Hi everyone, I am getting married later this month, and my wife-to-be and I live and work in the Bay Area. We are both in our early 20s and keep our expenses extremely low (less than $2k a month). We rent a room in a house. Do not own anything yet. I work in CRE sales, she's a nanny. We live off her income so I can focus on building my sales pipeline and saving capital to buy our first rental property. Our goal is to achieve a million in cash flow by 30. For those who have aspired to and achieved this, what would you do differently? How would you structure your finances? Or! What would you differently? I do like Dave Ramsey and think that leveraging in the beginning and paying off the debt as quickly as possible is imperative. What are others' thoughts? Our big goal is to have a large 8/9 figure+ portfolio by our mid 40s, owning multi-family, retail, and some single-family homes. I've read the blue (MREI) and red book (MREA) a few times. In the blue book, it says we need to invest $1m and own roughly $12M in properties. How accurate is this today and in the next ten years with inflation? Any/all advice is appreciated!

Thank you for the straightforward facts. I've received a lot of advice, but this is among the best. I've revised my goal to be $10 million by the age of 30. As of today, I have already initiated an action plan to turn this goal into reality.

 Thanks for the info! I'm going to start writing down my goals and laying out a game plan of action. I agree with the coach. I'll see how things go in 3, 6, and 12 months and decide on a shift or not. BTW - Love Gary Keller's Red and Blue Books. I have both copies and am on my second round of reading them.

Great tip! I haven't purchased any property yet. I'm focused on saving money and increasing my income for the next year or two. I am actively keeping my eye on the economy and researching places where I will buy properties in the near future.

Thanks for the reply! Great information. I'll take a look at those books. Everything is about mindset, especially when it comes to achieving goals. Also, I sent you a PM for the goal sheet.

@Nicholas L. 

Thanks for the reply. Great idea! I have thought about that. I've been exploring starting small with a duplex/triplex and then growing into larger multi-family properties. My main concern with California is that it's not landlord-friendly, and rent control seems to be a rising problem. I live in the East Bay, and it seems that "rent control" isn't present here yet, unlike Berkeley, Oakland, etc.

Hello everyone, I'm a 22-year-old just starting out in real estate and seeking advice from others beyond my current network. I'm also getting started in commercial real estate sales in the San Francisco area and have established some significant goals for myself.

Primarily, I aim to grow sales and generate $1M+ in my mid to late twenties (I have a plan and coach, but I won't list it here as I am focusing on the investment aspect). I intend to leverage my income as a tool to build my own real estate portfolio, valued at $5M or more by the time I'm 30, with the ultimate goal of growing it to $50M or more in my 40s. While I acknowledge these are ambitious goals, I have a clear understanding of why I aspire to achieve them.

Several friends and mentors of mine have net worths north of $100M, and, most importantly, they achieved it on their own. I've received a lot of advice on starting out and scaling, recognizing that everyone has their own opinions... I believe these goals are attainable in this business with sacrifice and hard work.

Currently, I plan to maintain low living expenses as I live alone (totaling $25K yearly), focusing on expanding sales, increasing income, and venturing into out-of-state property investments within the next two years. I am actively engaged in networking and building a team of lenders, etc. Importantly, I'm not looking to invest in a syndicate or flips; my focus is on multi-family and retail properties for long-term growth. I see this as a long-term game plan, envisioning a future where I won't have to work much or at all.

I'm curious to hear what others think. A friend of mine, who started in CRE at 23 (now in his mid-40s), was able to commit fully to working and was able to achieve a high level of success in his late twenties and early thirties. He suggested my goals are too low, encouraging me to aim higher given my age, being single, and having the time to learn and accumulate wealth. I appreciate any feedback, opinions, or advice. Thanks.