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Real Estate Of Mind on how you can get your start as a real estate investor

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In this snippet, the Real Estate Of Mind podcast discusses how you can get your start as a real estate investor even if you’re only 18 years old and how to get over your fear getting into real estate,
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I have a good friend who just made $20,000 from flipping his first home here in good old Atlanta and I'm wondering if you have any tips on how to get started? How do I flip houses when I have no money? I'm new to the game and need lots of help. P. S. I don't want to live with mom and dad forever. I'm sure they don't want you to live with him forever. Billy so that's probably a good fit. Why don't I take Because so I started being an entrepreneur at 19 years old, left home at 18 years old and became an entrepreneur, started my first company at 19 years old. So I understand youth from the youth is on your side here. Um understand entrepreneurship because you've always been an entrepreneur. Yeah I'm wondering billy if you're the same way I wonder if you have always thought about your own business of some kind. Remember think about my first wiring businesses gonna wire people's houses for phones back when phones had wires attached to them. And that was my first business idea I think when I was younger. And so that translated into an alarm company and then that led into been in business for 31 years now, something like that. So I respect that. Um so you wanna know about how to get money and how to get started, you know, when you're younger, it's possible, it might be a little more challenging, but it's certainly always possible. The great thing is you want to find a deal first. So if you can find a deal first, the deal will bring money. Now, what I mean is if you find a deal that is, You know, priced way below market value. Um and we have a lot of videos on this, you can search us and find stuff, but if you find a house is priced right, you get it low enough is enough profit built into it. The Great News is there are people that will lend you money on that even if you're 18, you may have been a co signer. That may happen. But you might be able to private lender on a deal like that. And there's plenty of those out there through hard money lenders. Um, you can, there's local groups called your local real as you can go to. We just had our real last night. I don't think I told you about three young men came up to me and joined the group. They were 18 years old and I said, you guys, I said you guys remind me of me. So I gave him some pointers on how to get started. But um, you've, you've, having youth on your side is a really important thing. But I think investing in real estate too is different than just going out and trying to get a car loan or a regular bank house loan because it's tied to a piece of real estate. So, you know, there's, there's less risk for the lender to. So, um, I guess continuing, so you know, what you want to do is find confidence when you're in and that can be something that you lack as a young person. Um and so you want to make sure that you go in confident and you know, go after what you want to really take action there. You want to get the education that you need to be knowledgeable in your area of real estate and you don't have to know the whole United States, Just focus on, you know, a 10 or 15 or a 20 mile radius around where you live, get to know the area, get to know the school districts, what's a good street, what's a bad street, all that sort of stuff. Um And then so many lenders to choose from. There are like you just said, there's traditional lending methods, there are private lenders. Um And being that real estate is is as popular as it is right now and I don't see that trend going away anytime soon, do you? You know the that source of income and are not income, but that source of money. The lending isn't going anywhere either. Um And then the other thing that you can do is come to our workshop, we have a home workshop. It's a three day, really intensive course that really gets you off the ground running the home flipping workshop, a little self promotion there. So, you know, the truth is billy, you probably think you don't have resources when you're young but you do. So I want to kind of just grab you say you have resources, you can't give up on your dream, you gotta go for this. So there are resources that are out of that available to you. So um you'll have a lot, your future be very different, a lot more doors will open up to you but you gotta stay the course and remember what your dream is. It's important to go for that and it's so awesome. He's thinking about this at such a young age because not everybody has that mentality at a young age, but the younger you start you know there's never a bad time to start in real estate no matter what age you are, but the younger you start you know you just have all that more potential. So you've got this bill, you can certainly do it. Um You know, age is certainly on your side, which is great. Um You know, if you're like billy or your parent of someone like billy, there's a lot more resources available than you think. When you hear that there's no money down on deals. That's true. It doesn't have, you don't have to have money. Um You have to have money doesn't have to be your money. So as long as you know where to go for those things, it's a, it's a great way if you are a parent of someone like billy, you borrow money to by your house probably and probably by a larger car or a new car that you had, right? So you already borrow money for things that have value, something happens in real estate investing. You can borrow the person you can also borrow for the repairs so you can borrow a lion's share of that. There's a lot of resource ability of and that will allow you to be able to retire sooner. Billy and have a just do what was your life? Yeah. It's so awesome that you're thinking about this at such a young age. All right. We have another question here from Beth Beth said hi my husband and I have talked about flipping for years. We have watched all the Tv shows but haven't been able to pull the trigger, pull the trigger. We want a better life for our family and think this could be part of it. But we fear we think fear is holding us back. I personally am scared to death. How do I get over the fear to take action? What a fantastic question Beth you know, we I understand totally how you feel we both do because we were very scared in the beginning if you've watched our other podcast, you know, we were down to like our last last money $1400 or whatever it was in the bank credit or anything. So you know, we get it, we we totally understand change is scary um whether that change is good or bad, sometimes it can be scary, but you know, if you're if you're sick of being where you're at the thought of staying, where you're at is also scary, so you kind of have to decide which one is more scary. We found that once you get the knowledge that that fear dissipates and that's the kind of the great thing about fear is when you gain that knowledge it dissolves, but life still goes on. So you can take action towards your towards your future. When that when that education sinks in, you know, think about when you first wrote a bike, you know, that's scary at first, you know, you know, your parents gonna let go off of the back one of those times, but then once you get the pedals going and you get your balance, then it's not scary anymore. So that fear does go away. Yeah. You know when, when your fear of staying where you are um becomes great enough, that you want to have a better life, when that fear comes, that's when things start to happen. So if you're still looking at your life and say, okay, if I don't do anything, what's going to happen and that's what will make you take action. I was reading your in your email here and we took your your email, your question here, It said, um you know, fear is holding us back and we'll have a hard time pulling the trigger. Think about what life's like if you don't pull the trigger, maybe that's the motivation you need. What is life like? If you don't pull the trigger, what it looks like now, a year from now, five years from now, 20 years now, if you don't pull the trigger and do real estate investing, we believe it's the best way for average people to create wealth, We're living proof of that. So if you don't pull the trigger, what's going to happen in your life? So maybe that motivation will help, you know, you just start moving. So you got to get out of your own way, you've got to get your own way that we talk about that in our workshops all the time. We say, well, what are we doing this weekend? We're gonna help you get out of your own way, because we all get bogged down with our own fears, We all have them. And that's really what happened. So I think it's important that we move on past fear so that you can go for a better life. That's real growth happens when you start to get past your own head.
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