is there such a thing as too YOUNG ???

[Clarence130279]

Howdy All ,

i just have a quick question to all of the Real Estate Investors in this forum.

at what age did you start jumping into the Real Estate Investment arena & bought your first IP ???

i think the responses who be very interesting.

say cheese ,

:: Clarence ::

 

[Clarence130279]

he he

i just remembered that i didn't say how old i was.

i'm 23 & i'm still a baby fish in the sea of Real Estate Investment, & i haven't bought my first IP yet.

i wonder if there are other babies like me who are also in their early 20's in this forum...

hhmm...

anywayz, big smile ,

:: Clarence ::

 

[PIppety]

Hi Clarence,

I was about 24/25 when I bought my first IP. I suppose it can be a bit daunting at first but exciting at the same time.

It is strange sometimes because you always see people posting who are for example in there 40's or 50's saying that they wish they had invested earlier. Even at 24/25 I had wished the same thing. I guess hindsight is always a wonderful thing

It is great that at your age you are even considering it let alone being about to take the plunge. All I can say it is an interesting, fun and rewarding journey (not that I'm an expert by any means). And when I say rewarding it's not just financially rewardng but I am sure you will find out a lot about yourself and many other (non-financial) things along the way.

Anyway, good luck with it all and I hope you have as much fun as I've had !

Cheers
PIppety

 

[Kevmeister]

I was not an "investor" at your age but I had purchased (with a mortage to go with it) my first block of land when I was around 21.

Don't let age stop you getting ahead. You will not find anyone on these forums I think that will say "Gee, I wish I had waited later in life to start investing".

I'm 34 now and I sorely wish I had started earlier.

Living at home is the greatest gift your parents can give you if you use the opportunity wisely. That is, if you use that arrangement to kick-start your financial independence, it can be a great help. If you use it to have more beer-drinking money, well ... you'll be on these forums in 10 years telling us how you wished you'd done something sooner.

Certainly there are hurdles that younger people face when trying to get into property investment (the usual one being no deposit). I presume you have a job now?

Look for creative ideas and ways to perhaps reach your goals.

Kevin.

 

[Sim]

YOU ARE TOO YOUNG !!!

I insist you get older right this very second !

There ya go, that wasn't too hard now was it ?

Ooooh... you're even older now !

And again !

Don't get cocky about it all of a sudden... next you'll be asking if you are too old !!!!

 

[geoffw]

I'm older. And started late.

I could have been richer if I'd started earlier. But I would not have done the travelling I did. I would not have met the lovely person I met in my travels, who is now my wife.

I would have had a lot more money now if I'd started a lot earlier, and I would have been able to catch up on all the travelling I missed out on as a result- and a lot more.

But I'm all the richer now, and don't regret anything I did wrong or missed out in the past. I'm too busy looking forward to worry about the things I can't change any more.

 

[rickmick]

I don't want to throw a spanner in the works but starting earlier doesn't automatically mean being more successfull.

What it will mean is that time will have more chance to smooth out any mistakes though.

I started investing in 1982. First in our own home which was paid off in 5 years and subsequently rented out, and then in IP's.

I didn't really have much idea what I was doing and so made lots of mistakes. (Jan hadn't published any books until after I'd bought the second IP)

Time has helped with this situation and like GeoffW I don't like to dwell on those lonely days but prefer to look to the future.

So take advantage of all the fantastic information resources available and get a plan together. There is plenty fo help here and people only too willing to bounce ideas off.



Rick

 

[phm]

Hi there.

It was only recently that I realised that I had, in fact, been an IP owner at about 17 or 18. I lived in a caravan park and bought a large caravan, which was rented out. The owner of the park looked after everything and I simply collected the money.

Now, many years later, I'm starting again, this time with houses/units.

 

[Rick]

Great thread guys - nice to see some other young people around

I bought my first investment property at 20. It took quite a bit of saving and playing around with some shares (fairly aggressively) over 2 years - at one stage there if the market had fallen another 1% I would have been hit with a margin call but luckily we caught the end of the 90's and the greatest bull run in history and turned 5k from an insurance payout into 20k in about 2 years.

Then pulled the money out and put a deposit down on the first prop. Renno'd it and has done very well and still is.

Just turned 22 (today) and am settling on no's 3 and 4 at the moment.

For all you young people out there it can be done - it just takes a bit of sacrifice and a lot of hard work but gee its worth it.

Rick

 

[XBenX]

There is no such thing as too young...

age should never come into the equation, perhaps a better question should be - do I have the knowledge to make a correct decision ?

I was in a very similar situation to you - living at home in Sydney - I bought my first IP in Sydney at 19, Im now 22 and i have 2 IP's

You can only learn from the experience... even if it is not a success.

 

[Young Eager]

I'm 21 and in a similar position to yourself. It is pretty daunting however ultra-exciting too. I hope that you succeed in what you wish to achieve, after all you are leaps and bounds ahead of most people your age, in that you have found forum so good luck! It would be good to hear of your progress as you continue your IP journey, Keep me posted.

Ricky

 

[Nicholas H]

I am 23 and still have not done anything yet .. well I have learnt a lot, just not sure exactly going to do next. Still not right to borrow money at the moment, hopefully march I will be able to (excpet using no doc loans). I really do like property, but my gut feeling is that it is not the best time, I feel shares are going to better in the short term (like the next 3-5 years), tho not nessarly now. But you never know what will happen to the market especially if they do drop intrest rates again. I will probaly will buy something cheap out in more drivable rual areas (I am in sydney) just so I can get experience, not really for profit .. other then I will not be buying anything for the sake of it. But with being young I have time to take things easy .. other then with the current environment it might be better just putting the money away and waiting for better enviroment .. but you do never know what is the best thing to do with out hindsight.

 

[Iggy_Type_R]

I bought my first IP (house) when I was 21. I am now 22 and have since bought another apartment in St Kilda in Melbourne and block of 5 flats in Qld. And am now looking for another block of 12-16 apartments in Brisbane.

The only barrier to aquiring more has been in my mind, and I have just broken through that barrier!

There are many many many ways of getting the $ and getting the banks to get in on the action even at your (and my ) age.

For example: you can set up a company & trust structure and get your parents (if they are willing of course) to gurantee loans to your company.

If you have any questions for off-line discussion feel free to email me

Good luck!

 

[Clarence130279]

Howdy ,

it's great to see there are many young guns in this forum!!!

now i don't feel so awkward being in this forum surrounded by members who are as old as my parents...

no offence guys

with age comes wisdom...

that's what we hope for anywayz

it seems to me that there are more male RE investors than female...

is my assumption wrong???

anywayz, stay kewl guys and gals, the sticky hot summer weather is a killer

keep smiling,

:: Clarence ::

 

[Sim]

Originally posted by Clarence130279
it seems to me that there are more male RE investors than female...

Actually I see it differently... I see many more females out there "driving" the investing for a family. Even if hubby is in tow, he's often there for moral support and sometimes doesn't even understand what his wife is getting all excited about.

It seems that many women are the ones who are left to take responsibility for the family finances - budgeting, purchases and such, and it is them who want to build a solid future for the family, and so are driven to look for ways to invest.

Men are more likely to try their hand at shares first (and their ego often gets in the way) - whereas women will take a more conservative (and often more successful) approach - not trying to make it rich all at once, but looking for a longer term foundation for future wealth.

Just a generalisation of course !

 

[Aceyducey]

I agree with Sim.

In couples, with males in many cases still the main breadwinners so it's the grrls who have the time and energy to walk the streets finding deals and co-ordinate the inspectors, lawyers, accountants, tradespeople, etc.

With singles, well, all of us know that women are much harder workers than men

Personally the secret to my success is being pushed into good decisions by my other half and letting her do the hard work while I generate the capital.

Cheers,

Aceyducey

 

[Sim]

Originally posted by Aceyducey
so it's the grrls who have the time and energy to walk the streets

So does your grrl walk the streets for you ?

 

[XBenX]

your too quick sim

 

[Lotana]

quote:
--------------------------------------------------------------------------------
Originally posted by Clarence130279
it seems to me that there are more male RE investors than female...
--------------------------------------------------------------------------------

Well, the gender of a forum member is not always known. I personally have not met anyone yet (in real life). But I honestly made some attempts to meet with some Sydney members. I don't know why, but most people assume "Lotana" sounds female. (What do they think about "Osama"? ). Anyway, in most cases as soon as I mention my wife, the other side immediately finds an excuse to retreat. Funny. My PM correspondents please don't take any offence, I'm just making a point.

As for family involvement - my 19 yo daughter was reading some threads for a while and became interested. She is now a proud member of the forum and hopefully is learning something.

Say cheese

Lotana

 

[Jas]

Originally posted by Lotana
quote:
I don't know why, but most people assume "Lotana" sounds female

I admit, I thought you where female. Two reasons- 1) suffix of 'a' ususally means female. 2) your avatar doesn't have a short back and sides.

Jas (who is a girl, who's avatar has short, back and sides, and whose real name ends with 'a')