Just 3 years ago I was 20yrs old and stumbled across BP. I always had a love and passion for RE and wanted to get my foot through the door, but was stuck in a mindset that I needed plenty of money to get started. Before really getting into any real estate, I had spent plenty and plenty of hours just going through forums on here, listening to nearly all the podcasts that BP had put out there, connected and tapped in with plenty of people that were already in the game. Soaked in as much game/knowledge as I could and wanted to see what type of real estate would I want to get into. I had my first opportunity with my family. We were all able to bring something to the table and were able to secure 8 units as I was still 20 years old. I am a big believer in longevity. If you really want to be successful, how long are you willing to wait for it sometimes? If you could play the long term game, you can really make a fortune, I've played it with Crypto as well and it has done wonders. Although, I was more interested in the fixer uppers more and the BRRR strategy. I also thought I'd enjoy doing all the handy work myself. I was pretty good at it, but it was really time consuming and taking my time from really could've making moves elsewhere. So, I decided that I will just start my own team. Started recruiting, got our own crew together and just renovated our units and increased rents. Sidenote: We also were able to get in at the most perfect time, just 3 months before Covid got serious. We had some tenant issues with payments and evictions but it was really necessary in order to learn how to go about things when situations arise. I really got to a point where I loved when new issues would arise that I never dealt with, so I could learn how to go about it in the future. But not when an issue like a roof falling in the middle of snow storm at 3 am when your out the country. Those problems, I hope I never see again. Never be afraid of going out there and getting to it and trying new things is my point. I tried different strategies. For instance, before getting involved I was thinking of buying a fixer upper, fixing the house and doing all the work myself and get paid. I mean it could work for some, but after getting in the field it was not as easy as I had imagined. Then when we had issues where, tenants would call me directly and tenant issues would arise, we had to find solutions to automate everything as best as possible. I also received plenty calls of potential tenants and people looking for places to stay. So, I knew we had to increase the unit numbers in which we did. Went from 4 units to 32 units currently. When I say units these are multi-family properties and each property has 4 units. So currently at 8 multi-family buildings. I had an uncle and other people start reaching out and would visit and wanted to get involved, that's when I started looking into commercial real estate, right during beginning months of covid, or mid-2020. It was a perfect time to buy commercial so, we went out and started our hunt. Were able to secure 2 buildings in that year. One was already renovated and fully rented. Other needed some work and was partially rented. Had the place renovated, and although it was times were nobody wanted to rent, after few months luckily found a guy that offered to take it. He offered a percent of his sales at the end of each month. Although I wanted to decline it, I knew it would be hard to find someone so we agreed on a number and moved forward. First 2 month was not much, but third month got an $8000 check from him. Business was really picking up for him and we were getting close to $8-10k month and some months $14-15k. 1 year in, our lease was over and he wanted to renew it for a fixed rent price. Which we did. Now I am 23 and want to tell the next person that's looking into it, go for ti and give it a try. You're still young. Try new things and see what's for you. I rather try something and know if it was for me or not, than not trying it and having to think about it when I'm older and the risk is higher for me to get in. I heard plenty stories of people in their 50s always talking, wanting to buy and all they do is talk, because they realize that they have a family and still a 9-5. For them to leave what they're doing is difficult. If you're 20 years old now and make the right decisions, 30 years from now when you're 50, your properties will be paying you. Also, this is not a get rich overnight you have to think longterm. I stumbled and got in at the most perfect time as we seen the significant increase in RE and if I wanted to sell my properties today, I would make some nice gains. Also, try new things as stated earlier as that's one you will learn and the other way is through other peoples mistakes. LISTEN WHEN OTHER PEOPLE TALK. Observe where they went wrong, and apply so you can avoid those mistakes. Your circle is very crucial. Surround yourself with the right people. Meet with people that have experience, observe, shadow them. Plenty older folks, love to see younger folks getting in at a young age and don't mind helping. NEVER BITE THE HAND THAT FEEDS YOU though. If someone is helping you, don't go backstab them. I've seen it plenty of times. Money comes and goes, amazing people that are willing to help you are hard to find. Read books. Fix you lifestyle and have a discipline. For me at least, I noticed that when I fixed my life around, is when things started aligning. Surround yourself with positive people, taking care of your health and finances, and improving your mindset. Also, Finance management is really crucial. I had been using Quickbooks since I was 15, so using it now is a piece of cake. Also there are plenty of ways to get dialed in and starting with RE. There are many creative ways that I've heard of that I never thought about. Also, there are plenty deals out there, missed an opportunity today? that's fine, like I see with stocks, the market will present new opportunities tomorrow.
