Advice For a 21 Year Old Student Keen To Create Passive Income

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What advice do we have for a 21 year old student who is keen to start generating passive income already?

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Ryan: Jack is asking what advice would you have a for a 21 year old student with still a few years of study but is already keen to start creating passive income?

Ben: You’re probably better at this than me.

Ryan: I don’t know if I should say what advice I would really have though, because I’m …

Ben: Don’t tell him to leave uni.

Ryan: Yeah, that would be my advice. But it really depends what you’re studying, like if you’re studying to become a doctor or something, obviously, you have to go through uni. Basically if you’re 21, if you’re in uni, assuming you’re not making much money, or you’ve got some casual job in a café, the fact of the matter is, banks are not going to look favorable upon that. You need to assess can you even get a loan in any situation at all.

There may be certain situations where your parents may be willing to go guarantor for you, and you can get a loan there, but in a lot of situations you’re not actually going to be able to get a loan. Yeah, you need to work that out.

I think first thing would be to just speak to a mortgage broker and to work out if you can borrow anything. Chances are you probably can’t, so when you know that, whoops, sorry. Going to the wrong screen. When you know that, then it’s about, well, okay. What are some other ways that I can create passive income? Or should you be focusing on saving so that you can buy once you leave uni and get a job.

But for me, the biggest advice I would be would be to look for other ways to generate passive income. That could be through online businesses, it could be through starting your own side business. They’re kind of my favorite ways. What would you say, Ben?

Ben: I think if you’ve got your heart set on property, the two years before I finished uni was where I learnt most of the things, and then the year I finished and got an income I bought my first two properties, so as Ryan said, save as much as you can.

Use this opportunity as a time to learn, so there’s some awesome podcasts like the On Property one that Ryan runs. He’s got 500 odd episodes and he’s done some amazing stuff, especially for people getting started. There’s The Property Couch, which is an awesome podcast. There’s some really good YouTube channels like Ryan’s, Nathan from Be Invested.

He’s another buyer’s agent that I think he produces some really good quality content as well. He’s got a different approach to presenting it, which is kind of cool to get a different perspective. There’s really good information out there. There’s some really good books that you can pick up.

I suppose the foundation that you need to build now to be able to build something meaningful in the future is based on education.

It’s not so much making that money work for you now, it’s just about getting yourself ready to so that in that first year you can pounce on the right investment property and hit the ground running and not save yourselves having to make all the mistakes that I sort of had to make, because I didn’t spend as much time doing that stuff at the start, or at that time there wasn’t as many of those awesome free resources out there.

Ryan: Yeah. That’s actually a really good point is that even if you can’t really move forward right now, you can take the time to really begin to learn and really learn about the property market, learn how to do it, learn how to research areas, look at the different strategies that are out there so that you can start to think about, okay, which strategy is going to be best for me, and then you can learn about those particular strategies.

You’ve got a really good opportunity because you’re really young to really spend this time learning, really spend this time understanding the market and how to make money in property investing, and so that when the time does come and you can borrow money and move forward, you’ll be prime and you’ll be set, that you’ll know, okay, this is exactly where I want to be. Here’s the strategy that I want to use to get there.

Here’s the suburbs that I’ve chosen that fit within that strategy, and then you just need to find the right property so you’ll be primed and ready to go. Use this as an opportunity for learning and for getting yourself set, because then when you are 23 or 24 and you’re out of uni, you’ll be leagues ahead of everyone else in terms of what you’re going to buy.

Ben: What you do at 24, between 24 and 30 in terms of the education, in terms of the skills that you build and in terms of the foundation of properties that you build, it will mean that you’re financially independent by 35 or 40.

Ryan: Yeah. Hopefully that has been helpful. I would recommend checking out Gary Vanderchuk as well because he just talks about just close your eyes and just work your face off til you’re 29.

Just don’t even look up til you’re 29, but he’s got some really good advice just to give you a kick up the ass as well, so check out his YouTube channel or his podcast or something as well.

Well, I hope you enjoyed the insight to this question with Ben Everingham with Pumped on Property. We’re really having a blast doing these Q and A sessions with you guys, so keep the questions coming. If you’re at the point now where you’re ready to purchase investment property but you think you might need some help, then Ben is offering free strategy sessions to On Property listeners.

Simply go to, and you can book a time with Ben and you can go through where you’re at, where you want to be, and what your next steps are to get there. Again, that’s Thanks so much for watching. Until next time, stay positive.

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