The community at Rock Star is like no other. When I entered the world of real estate investing I thought, “I’m doing this for me”, and I am, but along the way, I learned that investing in real estate is a team sport. We learn from each other and lift each other up despite the challenges and the criticism.
We have all heard the horror stories of investing in real estate. The nightmare tenants, the money-pit properties and the crashing markets. As a young adult, I heard far too many of these stories first-hand from close family and friends.
At the time I was working as an intern architect during the day and volunteering at real estate conferences whenever possible. It seemed, the more interested I became in real estate, the more negatives I heard from those close to me. But something didn’t add up. The negative stories and discouragement didn’t match what I was hearing from those in the real estate profession.
A common thread started to emerge between my career education and my extracurricular activities, “Real estate was getting more expensive”, “Developers are building for more and more density”, and “Soon, young people will not be able to afford a home”. I couldn’t help but think while sitting in those classes and conference rooms, these “young people” they were speaking about, that was me.
Still, I didn’t understand what all that meant. I thought real estate investing was only for rich people, or at least for people who have money to spare. I had none of that.
I didn’t have money, nor did I have the support or know-how to make such a large commitment. What I did have, and had in spades, was a hard work ethic. So, I kept working. At one point juggling 2-3 jobs steadily between the ages of 22 and 24, not knowing where it would lead me, but thinking one day it would pay off.
I had read “all” the books, watched “all” the youtube videos and listened to “all” the podcasts. I had built up a significant nest egg over the 3 years of hard work, but more importantly, I made a commitment to take control of my life.
I started attending real estate conferences as an attendee and no longer as a volunteer. I didn’t want to hand out fliers or take names. I wanted to be in the room where the important information was being shared. I started working with a Rock Star Real Estate Coach, and 3 months later I closed on my first property.
I was an investor now, whether I believed it or not. Funny enough, I had never owned anything before. Hell, I bought a house before I bought a car. I was ignorant and inexperienced and I knew it. Although I knew more than most, I knew very little of anything. I relied heavily on the network I had built over those 3 months, to guide me.
That first property was a 5-bedroom student rental that I turned into a duplex. 3 bedrooms on the main floor and 2 bedrooms in the basement.
I had it easy. The house needed very little work, some paint and a new kitchen. If I’m being honest, that is all I really could afford. I took a small loan from my parents to pay for the renovations, promising I would pay it back, knowing I had no idea how.
I refinanced that property 6 months later for more than what I had paid for it.
I was hooked.
Soon after refinancing my first property, I bought my second property. This time it needed a little more work. Another duplex, another small family loan to pay for the renovations, but this time with more clarity and more experience.
Before finishing that second property, I bought my third property with a partner. Things were moving! What was once a hope and a dream became a passion. I had gone from owning nothing at 24, to being 26 and owning 3 properties, only 2 years into my investment journey.
In the following years, I’ve explored new markets, expanded my network and bought & sold a few more properties.
It’s been a journey, with more mistakes than I wish to count. But each mistake taught me new lessons and has made me a better investor.
And I’d do it all over again.
Build a strong network of like-minded people.
Make decisive actions quickly and do not overthink
Ask a lot of questions and never stop learning