My bf is 24 and wants to get into real estate, should he continue to get into it?
Depends where you live. Around here so many homes are being built that the owners are renting them out, know one around to buy them. You know how renters are (most renters I should add), they will destroy these new homes.... Look at the market where you live at. Being a sales men is not for everyone...No regular pay or hours.
The real estate boom is over, he should find something else. Any moron could make money in that business a few years ago, now it's a grind.
I assume you are talking about him becoming a real estate agent. It is a good job. However, there is no health insurance, you have to pay your own taxes, there is no 401 k plans, no insurance of any type. You are an independent contractor, and as such, you choose your own hours and everything else. But that takes discipline which someone at 24 may not have. You also may want to tell him he will need to have at least 6 months of income saved up, because it takes about that long to show any income after the initial r.e. classes, which are mandatory to become an agent in any state. Good luck!
If you are looking to invest in foreclosures or tax liens, now is the time. As for a full-time career in selling or flipping, the market is not good for that. So in short, some real estate segments are very much alive because of the downturn, but for normal real estate sales, stay away for now. If you want to be a part time investor, try reading a book or two on how to do it. See my recommendation below.
