Was age ever a deterrant??? - Posted by Rob

Real Estate Investing Real Estate Gurus
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Posted by JoeS on February 03, 2002 at 14:54:40:

I am not a lawyer, but I believe that to own property in your name you have to be 18. If you are younger than that, either get an older partner or use the time to become well versed in the area that you want to cultivate. HTH.

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Was age ever a deterrant??? - Posted by Rob

Posted by Rob on February 03, 2002 at 01:08:01:

I have seen many posts from people may age or younger(21) talking about how they have already purchased property. I was just wondering if age was ever a factor, was anyone ever scared off because of how young they were. I’m just starting in REI and that was one of my first questions, would people want to sell me their property knowing how young I am. I mean, if I was selling my home I don’t think I would be very comfortable selling it to a teenager! Thanks in advance for any responses.

-Rob

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Re: Was age ever a deterrant??? - Posted by Jim FL

Posted by Jim FL on February 03, 2002 at 20:59:04:

Rob,
In my opinion, your age will only be a deterent IF…

  1. You have not learned “Yet” to be confident in your dealings.
  2. You have not learned the subject matter at hand adequately.

Take a look in the success stories here, there is one that I know of where two “Youngsters”, ages 18 and 19 closed a deal.
There are also some participants on the main board here that are in your age range.

Bottom line, as long as you are dealing with a motivated seller who has a problem NEEDING a solution, and you can provide one, while making money, then your age should not be a deterent.
Just be confident and convey that attitude, and you will be fine.

Good luck,
Jim FL

P.S. I was in my mid twenties when I began, well, in my twenties anyway, and I know I looked young for my age at the time. It was NEVER a problem for me.
I’m now in my thirties, and wondering what happened to my youthful appearance. :slight_smile:

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Re: Was age ever a deterrant??? - Posted by Tom_MI

Posted by Tom_MI on February 03, 2002 at 19:17:36:

I’m not sure how REI is but I know from experience in building I have had troubles with being young. Does age mean you cannot perform the job as well? No, but for some reason the older generation doesn’t seem to like to do business with younger people.

Good Luck!