First I’d like to share with you that I’m 18 years old, and just having completed high school last year. Though I’m now about to enter the ‘real world’, the journey has not been easy. When I was 14 years old I was diagnosed with Leukaemia and after being cured relapsed the following year which resulted in me having to be isolated from the world for about a year. It was during this time while flicking through channels on the tv, i saw a Pay-Per-View being advertised with Robert Kiyosaki. The ad intrigued me and I went about ordering the PPV in hopes of finding out more.
After viewing this, I came to the decision at 15, that financial freedom was what I wanted – so I went about purchasing a whole line of books from the ‘Rich Dad’ series. In doing so I also came across a book not by Robert Kiyosaki, but rather by Dolf DeRoos titled ‘Real Estate Riches’. After reading this I decided that if I was going to attain financial freedom, this was how I wanted to do it.
Since I’ve attended a few seminars (like Robert Kiyosaki’s in Sydney a few years ago) and read a few more investing books including Steve McKnight’s first book ‘From 0 to 130 Properties in 3.5 Years’ and am currently reading ‘$1,000,000 in Property in One Year’.
I have never been employed but recently have signed up for a 10 week real estate course which commences mid March, that will help me secure a job in the sales department of Real Estate. My thinking on the matter is that by getting a job in this industry I’ll gain an even greater understanding of real estate.
So what I’m seeking now is advice. Is this the right way to go about achieving my financial goals? Is working for a real estate company beneficial or a conflict of interest? And how what would you recommend an 18 year old with no expenses and no current debt (basically a clean slate) get into the real estate world? Any help would be greatly appreciated.
Ben,
Crikey! That’s some story! I commend you for your obvious resilience and tenacity in managing to overcome two bouts of Leukemia. If you can do that, I”m sure you can put your mind to doing anything you want (including being successful at property investing!).
First of all though – welcome to the forum! I’m sure you’ll find it to be a great help and support if you stick around.
Have a look at a post I wrote recently –
https://www.propertyinvesting.com/forum/topic.asp?TOPIC_ID=22508
I’m sure you’ll find it somewhat informative, and it may perhaps give you a good start point for your property investing career.
As for becoming a REA – go for it! I’m sure you will learn a great deal from “the inside”.
As you will be very aware, there is no “one right way” of getting in to property investing. The route you are proposing sounds absolutely fine in principle. My suggestion to you for the short term is simply to keep on studying and learning (as you already are), and then when you start working, learn how to budget. If you can budget effectively, you will be able to put some of your pay aside and start to build up savings/small investments. As this amount grows, you will become a better prospect for banks to lend to you – and then the world is yours!
Well – I hope that’s been of some help to you Ben. All the best for your REA and investing career!
Cheers,
Adam
Oasis Finance
for your Vendor Finance solutions
Achieve the Dream!
[email protected]Great to see you’re enthusiasm especially given what you have already had to go through at such a young age.
First I think you are on the right track with regard to real estate being a means to achieve financial freedom.
However….
The most important function of a job is to provide the means to get the initial seed for investments, and then to provide cash flow to support the investments. This is the priority. You do not need your job to be an education for your investments though.
So, although being a REA will help somewhat with education (but nowhere near as much as you think), it is very poor in the primary function of a job re: investment, a nice pay packet!!
So I would recommend making plans to go into a job that pays the most amount of money which might mean a uni education, and then educate yourself in investing in your own time.
Well Ben congratulations first for identifying what you want., which is financial freedom. As I see there is no ONE way you can do this. It depends on you , you got to have the desire first, then if you are willing to do the sacrifices (or delayed gratification in Steeve’s words) you will be on the right track. It is a good idea to do the Realtor job as you will be seeing oppurtunities before the rest of the world and you know the way they work which helps later. You have to choose what or how you want to achieve,with property it is +ve geared properties or properties with more growth and not much +ve or you want to do a flip (buy do changes and sell). It is a good idea first to get a job which gets the income coming in monthly then do this as additional when you have some cash saved up . All the Best
Sade [cap]Sade
Ben,
Firstly, it’s great to see that you overcame your illness and have a positive outlook on life.
Your direct questions have already been answered well so I thought I might advise you in other ways.
I suggest you go out and buy “Think and Grow Rich” and “The Master Key to Riches” by Napoleon Hill. These books are inspirational and teach you how to use the power of your mind to turn your innermost dreams into reality. Very, very powerful books which are a must read.
Breaking into the property market isn’t easy for youngsters, obviously. To get in though, start small. Set yourself a reachable goal, e.g. “I want to buy a $100,000 house within a year” then hold that thought in your head, become obsessed with it and devise a simple plan to get there.
By starting small and setting yourself a reachable goal within a short period of time, you’ll feel that you’ve accomplished a small of your ultimate dream and then that accomplishment will drive your enthusiasm further. Your confidence will lift, you’ll feel like you can do bigger and better things.
MK.
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