Is it ever too young to be a RE investor? - Posted by Kenneth

Posted by Arthur on August 09, 2003 at 19:31:55:

Hi Kenneth,
Sorry for the delay in getting back to you, but i thought ihad replied to this one.

My situation may not be typical due to where i was investing and the current climate at the time. I guess it was like all successful businesses, timing.

I lived in the UK, and in London there is a housing shortage with loooooong lists for our equivilent of section 8. Its also the law (all over Europe) that if any person arrives in our country seeking asylum, and they face persecution or death if they are sent home, that we must provide them with housing, food, education etc. Well, due to conflicts like Bosnia, Iraq etc, we had an influx of immigrants arriving in England which needed to be housed. Well, all the Bed and breakfasts (like hotels) were full, so those companies made deals with the local authorities (US equivilent of counties) that they would provide them the same service but would use apartment and houses to house them. This then meant those companies could offer guranteed rents at above market rates. My friend use to talk to me about this, and eventually i purchased a property off him allowing him to use his equity to buy other properties, and allowing me to get into the game. On properties that would normally rent for $900, i would get $1200. So, me and my partnet decided we would show our friends how to buy properties, and in exchange, we would manage it for them and pay them $900. We had such a great demand we would do this for anyone after we explained how it worked.

What i would do is find the property, help them with the mortgage via my broker who i had worked with all the time, then i would kit it out and rent it for them. All they really had to do was go to the solicitors (laywer) and sign some documents, and then deposit their checks.

Investment mortgages were not widely available, so we had to tell a few porkies. Most of them only put in like a few hundred bucks to buy the properties, and 2-3 years later are sitting on $100k of equity.

Did i get stabbed in the back? Sure, some people got too greedy, and dispite me making them $45k-80k tried to take back their properties. Sure i lost out, but they too lost out :wink: and i still made several k’s from them.

Remember, this happened in the UK. Its a TOTALLY different ball game there. You take a U.S Guru to the UK and they would be lost. Theres no lease options, no seller carrying, no hard lenders, no short sales, rarely a foreclosure (only when the market is in recession). Its pretty impossible to be creative there.

Right now, i’m learning the US way of things as i plan to move here and continue doing the property thing. The potential here is so much greater.

Good luck, and don’t give up. Trust me there is alot of money to be made in the USA.

Is it ever too young to be a RE investor? - Posted by Kenneth

Posted by Kenneth on August 04, 2003 at 22:39:25:


My name is Kenneth, I was recently introduced to and have started reading articles here. I am currently a student at the University of Texas in Austin. I was wondering, if any of you have run into any young investors. Is it ever too young to start? Never, right? I will be getting a Carleton Sheets Kit real soon, and it would be nice to hear about any young investors. An extra bit of inspiration and motivation :slight_smile: If anyone has run into any excellent material, I would love to know about it.


Re: Is it ever too young to be a RE investor? - Posted by Tom-FL

Posted by Tom-FL on August 05, 2003 at 21:00:03:

Is eleven too young?

Re: Is it ever too young to be a RE investor? - Posted by Jasonrei

Posted by Jasonrei on August 05, 2003 at 20:09:23:

When I was 18 I assigned a couple of contracts, also bought two rental properties. The sellers asked how old I was (out of curiousity), but didn’t care much. In fact, no one seem concerned except for some real estate agents I went to- they didn’t think I could come up with the money for deals.

I negotiated a deal for a duplex with one guy on the phone. Went to meet him at a Burger King to sign the contract. When we met he didn’t think I was old enough to enter into a RE contract, I said I was 18, he asked for my license. He took my license and said “Well daaaaaadguuuuuuuuum! You look like you’re 15.” He ended up selling me the duplex plus a couple of contract for deed houses. They were all potentially good deals, but I bungled a couple of them up and took a very small loss.

So age isn’t much of a factor, though I think maturity and confidence are. If you have those, plus good knowledge, you have no excuse. I really wish you well.

Re: Is it ever too young to be a RE investor? - Posted by way_motivated

Posted by way_motivated on August 05, 2003 at 13:22:04:

i’m only 21 and i’m heading full force in Real Estate. I also pay Cashflow as often as possible. i’ve bordogged 2 deals so far (learned a ton) and am looking to birdoog a couple more then move onto doing deals on my own. What i’m finding out about people my age is that it is very rare finding anyone close to my age who has anything near the same mindset. Everytime i go to meet with an investor or go to an investor meeting, i’m a bit taken aback at how young i must seem but i’ll tell you what. Never has it stopped anyone from talking with me or taking me seriously. I might get the occasional, “how old are you?” and the “if i would have started at your age” comments but that only goes to help me solidify my thinking. don’t let age be a deterrent.

and nope, i do not have a real estate license

Not in my book - Posted by D

Posted by D on August 05, 2003 at 11:13:08:

Kenneth, I went full time at the age of 22. I wish I could of startd at 20 or even 18, But oh well. Don’t worry about the age. I even got some deals just because of my age. Just know your stuff. And you will be fine.

Re: Is it ever too young to be a RE investor? - Posted by GL - ON

Posted by GL - ON on August 05, 2003 at 08:23:22:

Yes, there are laws that protect you from having a contract enforced unless you are of age, usually 18. If you are under 18 you need a parent or guardian to sign for you but you can still do deals.

I made up my mind to be a full time real estate investor at 16. Studied everything I could find on the subject (practically nothing back then).Got a full time job at 19, saved my money and bought my first apartment house at 21. But back then I had to do everything the hard way. This site and the other resources available should shorten the learning curve for you.

RE License, yes/no? - Posted by Kenneth

Posted by Kenneth on August 05, 2003 at 06:56:51:

Is a RE license recommended for real estate investors?

Re: Is it ever too young to be a RE investor? - Posted by Ronald * Starr(in No CA)

Posted by Ronald * Starr(in No CA) on August 05, 2003 at 01:52:40:


Nice to talk to you. I’ve been to Austin a couple of times. I like the area. Seems like an excellent place to live and invest in real estate.

My granddaddy ALbert Starr was born and grew up in Anderson County, SE of Dallas. I’ve been there several times at the Starr family re-unions.

I’d recommend my post for beginners, found by putting “beginners success” into the search function on this main board of this CREONLINE.COM website. Also, I noticed recently that there are a couple of copies of Craig Hall’s book on real estate investing being offered for sale on e-bay. I recommend reading them. He started investing in properies while a colledge student. Last I heard he lived in TX, too. He was running the “Hallwood” company.

Good InvestingRon Starr*

Re: Is it ever too young to be a RE investor? - Posted by Lance

Posted by Lance on August 04, 2003 at 23:33:05:

hey kenneth
I’ve been cruising this site a little lately. My fiance and I have been remodeling a house that we think we will make some money on and got interested in real estate investment as something we might do full time after school. We are both 22 and at the University of Tx Austin also. So don’t feel alone about that. Things here aren’t as hot as they were but if you are smart and have money, or can get money and understand real estate I don’t see what age has to do with it. Its more about experience, analyzing investments, handling money, and learning from mistakes (and you’ll make them). We thought we were making a great decision when we started construction on a new expensive house and halfway through it the market crashed, our builder got bought out, and we lost over $12k after backing out. Learned a lot from that ordeal. From what I can tell this is a good place to talk to people, and read what you can and talk to people who have done it successfully. Always learn as much as you can about something before jumping in.
Hook em

Re: Is it ever too young to be a RE investor? - Posted by Arthur

Posted by Arthur on August 04, 2003 at 23:00:09:

I started when i was 21, and was coaching a friend as soon as he turned 18. I started while i was at university, as part of our 4 year course, 1 year was working…so i worked, saved up and was buying properties while i was at university. By the time i had finished my course i had a good enough cash flow to support me.

That was in the UK, and we were buying to rent, but he has made $250,000 in equity on just the 2 properties i helped him buy, and thats on top of the cashflow he is making and the loan he is paying off.

Its never too young, it may be harder due to people not taking you seriously, but i guess that depends on you.

Good luck.

Well, that’s your juvenile record… - Posted by Ronald * Starr(in No CA)

Posted by Ronald * Starr(in No CA) on August 06, 2003 at 12:03:50:


Well, you don’t have to put those real estate losses on your resume. Those were on your juvenile record and so don’t count against you.

Good InvestingRon Starr********

Getting carded buying real estate LOL - Posted by GL - ON

Posted by GL - ON on August 06, 2003 at 08:22:36:

That must be a first, getting carded buying real estate.

Amazing - Posted by Kenneth

Posted by Kenneth on August 04, 2003 at 23:45:46:


I appreciate your response. It is so encouraging to hear from people about my age. I feel as if I don’t know anything about RE yet, I guess a good place to start is to speak to any RE people, agents…brokers…etc… I am also intent on playing Cashflow. Are any of you fans of the Rich Dad series? Anyway, I think I may have come upon a property which may be buyable for less than market value. I’ll have to look into it some more, but I don’t have the appropriate network yet, which may slow me, but won’t stop me. Also, do many of you have a RE license, or recommend it?

getting started - Posted by Kenneth

Posted by Kenneth on August 04, 2003 at 23:35:35:

How did you know your 18yr friend was the right person to work with. I’m guessing there’s a light in his eyes, that none of your other friends had. Also, did you look for someone to “coach” you? How did you know to get into RE and what resources did you use? What steps did you take to protect yourself? and How did you know to do them?

I apologize for asking so much, but I am so eager about getting started as soon as possible.

Re: Amazing - Posted by Arthur

Posted by Arthur on August 09, 2003 at 19:39:32:

Yeah, i read the Rich Dad’s book “Real Estate Riches”. That was my first book. Its a very good book IMHO, but doesn’t do much for telling you exactly “how” to do things. But hey, what you expect for 20 buck :slight_smile:

Good luck.

I too am on a learning path although i am not letting that stop me jumping in.