Anyone investing under 20.

Hi there Bill,
Hope you are ell.

I bouht my first property when I had just truned 19. I am now 27.
As a young bloke, it was a time full of different emotions,
while all my mates were out chasing women, and speding any cash they had I was ( well working my butt off)
I can tell you it was one of the best things I have ever done,

Some things to be careful of-  The "creatures" (rental agents) treat you like a little kid, sometimes dont take you serious enough. so its best to do your research and at all times yu are the boss. Dont et them try to influence you, as they will try!!

Getting finance als I found alittle tricky, the banks kind of looked at me strange too! I went to an independant broker in Perth, one whom I am now still in great contact( for further investments since)
so if you go in confidnet, with some cash in the bank to start with they will take you alot more seriously.

I dont live in Australia now, but sos they still offer the FOG? (first home owners grant) that can be used for your stamp duty,fees, and even to boost your deposit.
you can only use the FOG if you plan to live in the property for 12mths min, beofre you can leave to rent it out etc.

So my advice is, go for it! Do your homework, get some cash up front-

Do Not rush off and use you pre opproval., always sleep on the oppurtunity for a night and see how you feel in the morning!

I my opinion also, dont haggle over a few K eg 5-10 cause in the long term you will make great profits.

Dont AT ALL feel silly about making a low offer!! many factor contribute to why the home is stil for sale, legally the agent MUST present all offers. (obviously dont be too stupid)
you can always counter a few times, but what ever happens ALWAYS go for a WIN win situatin, for you and the seller.

some negotiation points can e- longer settlement=cheaper purchase price etc.

I hope I have helped alittle, without going too far ino it all.

Just remain in control, be cautious of people offering advice etc. I mean for personal gains ect
(haha says me posting)

feel free to send me an emal or messge if I can help anymore,

cheers

Jase

Hey Will,

I'm 20 as well and have been doing my own research for the past 8 months or so. I just wanted to raise the point that there are some absolutely fantastic real estate investment strategies out there some of which you don't need a huge deposit sitting in the bank. Don't think that the only way to invest in property is buying a house, putting in a tenant and waiting for the capital gains. Click on the 'investor HQ' tab at the top of this page and check out some strategies like wraps and lease options for cash flow and flips for quick cash. These creative strategies work perfectly with bringing in money partners to put up funds for a slice of your deal (no money down doesnt mean no money down – it means none of your money down). These techniques allign perfectly with young people who are looking for significant results as long as they are willing to put in significant effort and always ask how they can serve others.

Good point about not getting disheartened when 'professionals' look at you funny and don't take you seriously. Those who can't recognize enthusiam, drive and motivation from a young champion aren't the types of people you want to be hanging around with. Don't forget they are commonly wage earners and aren't searching for more like you are. Be really careful who you take advise from – only take advice from people who are genuinly interested in helping you and those who are successful mentally and financially. When you've done your research and you know what your talking about they'll shutup and realise your the real deal. 

Finally, realise that you won't make any money or create any wealth if you don't deserve it. Its SO easy to sit on an internet forum, to read a magazine, to send emails, to make business cards and flyers, to read books and listen to tapes. Don't get me wrong they are all essential but don't kid yourself that your a property investor when you are only deluding yourself. Depending on what your investment strategy is, you will only make money when you make written offers and speak to money partners – there's no other way. Looking at houses won't put cheques in your account, neither will reading books. Invest in your education but make sure you get out there into the real world and hit your key result areas (i.e. offers) again and again and again and then you will succeed. One of the quotes in Steve Mcknights articles posted on this site said his school motto was 'Spectemur Agendo' – latin for 'By their deeds they shall be known' – how fantastic is that?? Be known as a doer and not a talker like the rest of the world. 

Goodluck champion,

David 

Hi Ben

Why not post your No Money down details on the forum here for everyone to see.