Im finding more and more that the only people looking to get into investing are those nearing retirement and needing more income than they currently have. Ive spoken with many people claiming they want to begin investing or real estate but go on to their normal 9 to 5 job. Are there investors that have homes or are making deals unde rthe age of 55. It doesnt matter when you get started as long as you do get started. Im 33 and have a tough time finding those around my age that i can discuss real estate topics with. Most use the excuse they dont have the money to do so. My mother always makes the statement" i wish i was rich" i then ask well what are you doing to achieve your goals? Thats where the conversation ends usually. Whats is the general age of those on this website?
I’m 26 and getting started now, have tossed around the idea since I was 18 or so but just recently have actually done something about it. Most people my age that I went to school with lead useless existences and will be working until their 85 in a job they hate. I think they are afraid to try something else or just don’t know there is better out there.
great o hear and i agree with you 100%. My friends are married with kids and never going to get out of the rut their currently in. But at the same time i guess some people dont mind that. You get so programmed you dont know what else to do i guess. thanks for responding.
21 here…agree with you guys. Spent 3 years in college surrounded by cattle. But hey the benefit of having your stuff together at a young age…can go out with friends and pick up ladies like no one else around.
great to hear from you! Totally agree. Glad to hear you are 21 and getting started. Keep with it and dont give up. I wish i had started when i was 21. Everything i learned in college was essentially useless. Amazing what you learn on your own when you are actually interested in what you are trying to do. Like they say those that can, do and those that cant teach. I would say that is true for most colleges or schools but when it comes to real estate you can learn things you will be able to use for the rest of your life. Let me know if io can ever be of assistance ot you. I know what ive done so far has helped me tremendously and a few others. Keep up the good work and yes being young, doing what were doing, doesnt hurt with the opposite sex either.
wife 40 and 45 here. Began this to retire earlier. Still starting a little late but as they say “better late than never!”
My goal is to be living a very comfortable life on passive income within 5 years. Saying 5 because I have two kids to get through college first otherwise I would shoot for 3 years
thanks for responding. Its never too late to start. Its funny to me because doing this is so much fun its like being retired. You have the benefit of being with those you love or friends. You can live a very comfortable life and have everything you ever wanted. Keep with it, it will only get better.
I’m 39 and I’ve been mulling this over for the last four to five months. I’ve negative net worth, few job prospects(I’m not really in love with work since I’ve had so many different jobs)but my strengths are I read and I have no qualms about living cheaply. So how did I get this age without substantial financial knowledge? I relied on jobs, or counted on my ability to find one. Layoffs and finished temp assignments became the rule. When I read a book called Rich Dad Poor Dad and basically had my mind changed overnight.
I figure wholesaling is a strong first choice for me because of cash and credit constraints.
rich dad poor dad is an excellent book. From your statement i feel like its easier for you than others to get started. First off you see how limited you are working for the man, second you see it will take some work and your not afraid to skimp to get things started. Age has nothing to do with knowledge, i know a few people that could prove that statement. Keep seeking knowledge in real estate, but also in marketing, sales, management, investing etc. also why we want you to be rich by robert kiyosaki and donald trump is a great book. Actually donald trump has a few goods books even though their not written by him they still have excellent information.
41 and been investing for 3 years. We did it as a retirement plan, and also to be able to retire sooner. I would like to sell my business and have my husband sell his and just do the re thing together. We’re not quite there yet.
you can do both at the same time till you see the real estate coming into the range where it can take over the income from your business. Its hard to believe talking about retiring at sucha young age but in reality we can do this till the day we die. Why cant you let a management team take over your portfolio and just send you a check each month while you do deals that can make you 10,20,30 grand each month. Sounds far fetched i know but can definitely be achieved within the next two years or so. possibly 1 year if you put your time into it.Thanks for posting, always nice to hear others stories and what they hope for
Im 36 and my wife is 42 and we have been investing for 3 years. We started out slow, but have been steadily increasing our activity in the last year. I still have my fulltime job and my wife is at home with the kids. We each have our separate roles and work very well together. The only thing holding us back is finding enough quality deals…
I’m 35 and haven’t put together my first deal, but I’ve been reading real estate books since I was a teenager. Getting serious lately though because I recently sold my internet business and I’m ready to start a new career. I want to start by wholesaling, but I’m still trying to wrap my head around how I’m going to find that first deal and what I’m going to do once I have it
When I said retire, I didn’t mean sell the re we’ve accumulated. And yep, thats our plan to accumulate more, as a means of income until it’s the only income we need but we’re aways from that yet.
I listen to Dave Ramsey alot and one thing is clear—I need to pay off all my credit cards, especially in this economy (mi.) in order to feel comfortable and secure.
We make a great income but the $ that goes out in debt is enough to make a baby gray!
34 here. I have had rental properties … but I am just now venturing out into the investing world to diversify a little.
For me I’d definitely like to be fully in REI in the next few years, just gotta get over the hurdle of getting the first few properties then set the speed to overdrive.
35 here, I have been working on my first Deal for the last month. It is my hope to make REI my primary source of income and semi-retire by 45. I will be going with the passive income right from the start. Don’t get me wrong I am one of those people that turned my hobby (computers) into my career but , as we all know, you can’t get ahead working for the man.
Right now the computer market around here sucks. I’ve seen jobs here that require a bachelors and like 10 yrs experience for around $12/hr. Are you kidding me? After 10 yrs I could make more than that at McDonalds!
Man that does suck. Here the computer market has improved only slightly $16 an hour for about 3 years experience and a bach. I have been with my company for several years and luckily I got in before the bubble bust so my money is decent. Still I have always wanted to be a landlord since I saw my dad hand money over to a stranger so we could stay in our house. I remember asking my dad why he didn’t do that and I remember his words very clearly “Son I am not smart enough”. I will never utter those words to my daughter. A lesson learned but I have taken my sweet time to start my life long goal of property ownership and rental.
I’m definitely over that but I don’t think I could easily go elsewhere for the same or more money. I don’t have a bachelors but do have over 5 yrs experience.