Hey guys. I’m trying to get into real estate investing and i’m already very interested in wholesales. Helping people in need and helping rehabbers while collecting a profit sounds A.O.K to me. I’m actually only 20 years old and still attending a university. Just looking for a way to lighten the load for my parents with tuition and all. I was just wondering if I would be able to start doing this because i’m nervous about my age and how people would take to me. Would banks really consider me to be a legitimate investor and really consider my offers. Just looking for some tips and a little encouragement. Thanks!
P.S. Have you guys heard of Dwan Bent-Twyford and her program? Would it be much help to me? All opinions and advice welcome.
There is absolutely no reason that you couldn’t do this now…this is not age dependant (as long as you’re over 18) – it’s knowledge dependant. The anxiety/nervousness that you’re experiencing is just inexperience and it’s perfectly normal.
Be professional and knoweledgeable and your age won’t matter. Start networking, make some contacts, join the local REI Club…as I’ve said before, “It’s Real Estate, not Rocket Science”!!!
Many Educators take something simple and make it complicated, GREAT educators take complicated and turn it simple
I wish I had known about wholesaling in college, I wouldnt have had to give my summers up to make $4000. You could easily make that in a week,jjust by finding buyers, then finding houses. Find cash buyers, then find houses, then realize that you will be making more money then your friends who have already grauated college and you will be making it in your spare time.
I was nervous too when I first started at the age of 18 but manged to complete 12 wholesales within my starting year. I just got out of my comfort zone–said to myself that everybody has to starts somewhere. I made sure I was as professional as I could possible be. The most important thing during my newbie period (aside from learning all I can about RE) was to try to build up my credit…by the time I was 20 I had built a credit score of 710 -thats roughly when I decided to make the transition between wholesaler to an investor that does rehabs. The banks, I went to took my offers much more seriously when I showed them serveral pre-approval documents from few different hard money lenders --that and the fact I had completed about 50 (wholesale)deals by then. Now at the age of 25 I’m thinking of retiring! Hopefully that’ll give you some form of encouragement…but nothing feel as good as getting for 1st check from your very first deal…then spending it all on a helluva crazy night partying drinking booze then getting robbed by the stripper you took home…not that-thats ever happen to me ;D
Well, Eric, I will say that you are a very good motivator. Keep up the good work. But know I would like to make some of that money. So here goes the Question. Are you willing to mentor, even out of state mentee’s either by email or phone?