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Becoming a Real Estate One Percenter in Your Twenties (Episode 50) S4E5
Manage episode 308348000 series 2936153
Indhold leveret af Tyler Cazier, Aric Wiszt, & Jason Christiansen, Tyler Cazier, Aric Wiszt, and Jason Christiansen. Alt podcastindhold inklusive episoder, grafik og podcastbeskrivelser uploades og leveres direkte af Tyler Cazier, Aric Wiszt, & Jason Christiansen, Tyler Cazier, Aric Wiszt, and Jason Christiansen eller deres podcastplatformspartner. Hvis du mener, at nogen bruger dit ophavsretligt beskyttede værk uden din tilladelse, kan du følge processen beskrevet her https://da.player.fm/legal.
This episode can be viewed on YouTube.com: https://youtu.be/5bwBs7ncc3A
How do you get started in real estate when everything seems to be stacked against you? Can you really get into real estate? How? We talk about how to get started, and the things we wish we knew when we were in our twenties.
0:57 - Story time with Aric. Lots of people in their 20s have asked, "How do I get started in real estate when the world is stacked against me?"
1:44 - You need to have a desire to get ahead. That will lead to a plan. Desire fosters consistency, and more than anything, this is what twenty-somethings need if they want to get ahead. Sports teams practice consistency — and the more they practice the more reliable they become. Same applies with real estate.
3:20 - Credit is a major issue. A credit report is largely composed of consistent credit history. Best thing you can do is to get yourself a credit card when you're 18. (If an adult will co-sign with you, you can start establishing credit before you turn 18, and this is huge.) A credit card continually extends credit, and you're continually responsible for it. This is the fastest way to build credit. Use a portion, pay it off in full. Keep your balance to 25% of your limit if you can.
5:19 - If you don't have a credit card, contact a lender to get your bearings. Average home in Utah is $500,000. That can blow your mind, but you need a lender to help you figure out where you are and what you can really afford.
6:00 - Tyler put his daughter on his card before she was 18, and it really boosted her credit.
6:44 - FICO score breakdown. 35% Payment history. 30% Amounts owed. 15% Length of credit history. 10% New credit. 10% Credit Mix. DEVELOP A CREDIT HISTORY and DON'T MAX IT OUT.
7:32 - Make a plan, and get going. You could own several homes by the time you turn 30. Work with a lender to figure out what your payment could be, then "pay" yourself your theoretical mortgage payment every month. Get to know what it feels like. It will accrue into a sizeable down payment. Look for 3% – 5% down. That's $10k to $17k!
8:50 - Go get some business partners. Your buddy could be the easiest way to get into a property.
Rent out the rooms.
10:00 - Rinse and repeat. Just keep buying homes.
10:17 - Parents, your kid could live in your basement for FREE, or they could live in their OWN basement for FREE. Which one sounds better? You get peace and quiet, and they get a real retirement.
11:15 - What'd we learn today?
12:59 - Bloopers
* No one percenters were harmed were harmed in the filming on this real estate discussion.
Please contact us to tell us you love us, you want to hire us! Call or text:
Realtors with Hive Collective at Presidio Real Estate:
Tyler Cazier: 801-210-0230
Aric Wiszt: 801-228-7687
Lender with Elite Team at Security Home Mortgage:
NMLS: 178787
Jason Christiansen: 801-669-7271
NMLS: 240472
A Production with Security Home Mortgage's Jason Christiansen, and Hive Collective at Presidio's Tyler Cazier and "Mr. Suit" Aric Wiszt.
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