Lecture on Real Estate Investing for Young People

Introduction

• The importance of taking action and learning from those who have the life you want.
• Featuring Pace Morby and Jerry Norton discussing real estate, life, and legacy.

Real Estate Investing for Young People

• Growing interest among high schoolers and young adults in real estate investing.
• Question from a 17-year-old on how to start in real estate without a legal signing ability.

Starting Young

• Some young individuals are finding deals and working in real estate successfully despite not being of legal age to sign contracts.
• Example of a 17-year-old finding a deal but needing a co-signer as his dad wouldn’t sign.

Early Work Experiences

• Discussing their own job experiences at 17, emphasizing the importance of hard work.
• Examples include working at a tree nursery or grocery store.

Developing a Work Ethic

• Success often comes from a love of work and the drive to learn and accept challenges.
• Working multiple jobs as a teenager as a way to develop skills and earn money.

Opportunities for Young People in Real Estate

• Encouragement for young people to work in real estate even without being able to sign contracts.
• Examples of students who succeeded in real estate at a young age (e.g., Brian Russo earning significant income).

Strategies for Underage Investors

• Joint venture (JV) partnerships with other wholesalers as a solution for those who can't sign contracts.
• The importance of networking and working with experienced individuals in the industry.

Roles in Real Estate

• Bird Dog vs. Wholesaler:
  • Bird Dog: Finds deals and brings to investors, typically with fewer buyers.
  • Wholesaler: Owns the contract and has leverage with multiple buyers.
• The progression from being a bird dog to a wholesaler as one gains experience.

The Importance of Education

• Education as a means of wealth transfer to children, rather than just financial inheritance.
• Emphasizing teaching resourcefulness and skills to children.

Personal Development and Legacy

• Sharing knowledge and presence with children, rather than just wealth.
• Encouragement for children to face challenges and grow from them.

Advice for Young Investors

• Avoid listening to naysayers; focus on learning and action.
• Use resources and skills available to start in real estate, possibly even before adulthood.
• Value of having a compelling reason or 'why' to drive success.

Conclusion

• Emphasis on finding mentors who have the life you desire and learning from them.
• Inspirational note for young viewers aiming to make a life in real estate.