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Real Estate Rookie

Late Start to Real Estate? Investing in Your 50s/60s (Rookie Reply)

Real Estate Rookie

BiggerPockets

How To, Education, Business, Investing, Entrepreneurship

4.81.7K Ratings

🗓️ 27 June 2025

⏱️ 32 minutes

🧾️ Download transcript

Summary

Welcome to another Rookie Reply, where Ashley and Tony answer questions from the BiggerPockets Forums and Real Estate Rookie Facebook group. This time, we’re covering questions like: Is 61 too late to start investing, and what's the best strategy to build wealth fast? Can a rookie realistically fund a high-value first flip in Miami? Should a young, high-income couple cash out or invest out-of-state due to tough local market conditions? Looking to invest? Need answers? Ask your question here! Check out more resources from this show on ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠BiggerPockets.com⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ and ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.biggerpockets.com/blog/rookie-580 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠[email protected]⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.  Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

What if you had $100,000 in cash, a successful career, and a five-year runway?

0:07.0

But we're just getting started at 61 years old.

0:10.1

Or what if your first flip was nearly a $1 million property and you're trying to get it funded as a first timer?

0:17.0

Or maybe you're a high-income young couple sitting on $70,000 and a 3% mortgage, wondering if you should cash out, move out, or even go out of state.

0:28.2

Today we're answering three real high-state questions from our Bigger Pockets community, and every one of them touches on challenges we know many of you are facing today.

0:41.2

The of them touches on challenges we know many of you are facing today. This is the Real Estate Rookie Podcast. I'm Ashley Care.

0:45.1

And I'm Tony J. Robinson. And with that, let's get into our first question for it today.

0:49.8

So our first question here comes from Teresa. And this question says, first I'm on the'm 61 years old my husband is as well and we're just starting out in real estate investing truth be told if I knew earlier what I know now learning I could have started so much earlier but all I can do now is move forward I currently own a successful business with no plans to exit for at least

1:11.9

the next five years. My husband is a project manager with a local construction company.

1:16.7

With that said, what is the best strategy for building wealth and creating cash flow with real

1:22.1

estate in today's market? Is it buying a whole? Is it fix and flip? Is it burr? Is it wholesaling?

1:28.9

We're not really interested in house hacking. We have a good amount of equity in our current home and we've saved a good

1:33.5

nest egg and standard investments that we can tap into and we have $100,000 plus in cash. Is it too

1:41.0

late to really build wealth in a timely fashion so we can enjoy our golden years

1:45.2

eventually? She goes on to ask, what is the best type of loan to acquire funds to start? Is it a

1:50.0

he lock, a hard money loan, private money loan, no money down, sub two? We've reached out to an

1:55.6

investor realtor who has referred to us and who so far has been a wealth of knowledge. We'll be talking

2:00.6

loan and money strategies today as well, but would love has been a wealth of knowledge. We'll be talking loan and

2:01.3

money strategies today as well, but would love to hear from all of you. Everyone's input is

2:05.1

greatly appreciated. So a lot to unpack here. Well, first, I guess, let's just say, Ash,

2:11.0

like what a great position they're in. And I think, too, like something that caught my eye was,

2:15.7

if only I knew, then what I know now, I think

...

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