This is my advice for anybody who’s young—you could be 20 or 25. It doesn’t matter if you’re young, even under 30, and you don’t make a ton of money yet in life. Whether you’re still just starting out, maybe on your first or second job, it doesn’t matter.
How do you get into real estate? Let me give you a few tips.
Number one, knowledge is so vital in the beginning—most people don’t have enough knowledge. So, aim to get a ton of knowledge, and it doesn’t take any money to do that. What you lack in money you likely have more of in time because you probably don’t have a bunch of kids or a lot of obligations yet.
Number two, I’d really focus on your skill in analysis. Get really, really good at deal analysis and deal funnels (like how you get leads coming in). Again, it doesn’t require a lot of money to run the numbers or to start getting leads, to start driving around your neighborhood, to start finding properties.
In fact, I think you actually have a benefit by being young. People are more likely to talk with you and not be scared away when you’re 21, 25, 30, then if you’re older. I seriously think you have some benefits there.
It’s almost like the older investors, their own kids don’t care about real estate. So, let’s say you become like the kid to them. But you can’t just go to them and say, “Hey, tell me everything you know, and and then I’ll go do it.”
You ask them for a piece of advice, and then you go and do it. Then, you come back to them and say, “I did what you said.”
And then they’re like, “Oh, this kid’s got something!”
And then they tell you, “Well, go do this,” and then you go do it. You come back to them and maybe you start finding deals for them. Maybe after a few deals, you start partnering with them. That’s what my advice is.
If you're just getting started and you don't have a lot of money, work the relationships, get the knowledge, and build up your skill set right now.
I mean, honestly, now I’m thinking about it…
That applies for everybody—regardless of age. If you’re just getting started, you don’t have a lot of money, focus on those three things. Focus on your knowledge, your skillset for both deal-finding and deal analysis, and then your networking, your connection with other people.
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