Real Estate Advice I Wish I Had in My 20s and 30s

If you're in your 20s or 30s and thinking about buying real estate in Huntington Beach or anywhere in Orange County, this is the advice I wish someone had given me 20 years ago. After two decades in the business, buying, selling, investing, and making my fair share of mistakes, I’ve learned what works, what doesn’t, and what most people get wrong when it comes to real estate.

The hard truth? Most people wait too long, buy for the wrong reasons, or don’t think long-term. And the cost of those mistakes compounds over time. So let me save you time, money, stress, and regret. These are the core lessons I’ve learned, both as a homeowner and investor, so you can start building long-term wealth in one of the most competitive real estate markets in the country.

Watch the full video here: https://youtu.be/DBKkNDRonJw
Ready to start your homebuying journey? Click here to begin → www.jebsmith.net/start

Lesson #1 - Time in the Market Beats Timing the Market

You’ll hear this again and again because it’s the most important principle in real estate: Time heals nearly all mistakes.

I bought a home in 2006 near the top of the market. Within a few years, the value dropped to two-thirds of what I paid. I thought I was ruined. Fast forward to today? That property has fully recovered and then some.

The takeaway: Start as early as you can. Real estate rewards patience, not perfection.

Lesson #2 - The Biggest Regret Is Not Buying More

I’ve had countless conversations with long-term homeowners in Orange County who tell me the same thing:

“I wish I had bought more real estate when I had the chance.”

Even people who thought they were buying at the top ended up with hundreds of thousands in equity decades later. Why? Because they stayed in the market.

Lesson #3 - Cash Flow Isn’t Everything

When I was younger, I sold rental properties that didn’t cash flow. They were breaking even or slightly negative, and I got scared.

One was in Boise, Idaho. I bought it for $220,000, sold it for less, and today it's worth nearly $1 million. Another in Lexington, Kentucky? Same story.

I sold because they weren’t producing cash flow. What I didn’t realize is they were appreciation plays — and time would have turned them into huge wins.

Investor Tip: Some properties are for cash flow. Others are for appreciation. Know which one you're buying.

Lesson #4 - Location > Features

As a first-time buyer, it’s tempting to sacrifice location to get more house for your money. But if you don’t love where you live, you’ll eventually regret it.

I did exactly that. I bought in an area outside Huntington Beach to save money. But all my friends and lifestyle were in Huntington. I ended up commuting constantly and wishing I had just bought smaller in the right zip code.

Buy where you want to live, not just where you can afford more square footage.

Lesson #5 - Your First Home Isn’t Your Forever Home

You’re not going to check every box on your wish list. And that’s OK. The goal of your first home is to get in the game. It teaches you:

• How to manage a mortgage
• How to handle repairs
• How to build equity for your next move

Many of my clients in Huntington Beach and Orange County have built incredible wealth by trading up over time.

Lesson #6 - Real Estate Leverage Is a Wealth Multiplier

A $50,000 down payment on a $500,000 home means you control a $500,000 asset. If it appreciates 10%, you just doubled your investment.

With stocks, you’d need a 100% return to do the same.

Leverage magnifies returns — but only if you’re in the market.

During the pandemic, I had clients who used 3.5% FHA loans to get into homes. Just a couple years later, they refinanced, dropped mortgage insurance, and are now sitting on six figures in equity.

Lesson #7 - Liquidity Matters More Than You Think

Don’t go broke trying to buy a home.

You need a financial cushion after you close. Here’s why:

• Unexpected job loss
• Health emergencies
• Repairs (they happen)
• Market downturns

When my wife had a major health emergency, I stopped working for months to care for her. We had the liquidity to make it through. Without that? I would have been in trouble.

Never use every dollar you have to buy a house. Build in reserves.

Lesson #8 - Owning a Home Means Ongoing Costs

Buying a home isn’t just a one-time payment. You’ll need money for:

• Appliance replacements
• Roofs
• HVAC systems
• Plumbing and electrical issues

Real estate isn’t passive. Especially with rental property, it’s a small business. Think long-term. Plan for maintenance and capital expenditures.

Lesson #9 - Fixed-Rate Mortgages Are a Gift

There’s no such thing as 30-year fixed rent. But there is such a thing as a 30-year fixed mortgage.

Your rent will go up. Your mortgage won’t.

Buy early, lock in your payment, and let your income grow around it. Yes, taxes and insurance rise. But your principal and interest stay the same.

The earlier you fix your cost of living, the more margin you create over time.

Lesson #10 - Perfect Is the Enemy of Progress

Too many would-be buyers sit on the sidelines waiting for the perfect time, the perfect property, the perfect rate.

It never comes.

Buy what you can, where you can, and hold on. Real estate rewards action and patience, not perfection.

20 years from now, you won’t regret the home you bought. You’ll regret the one you didn’t.

Final Thoughts: Orange County Real Estate Is Long-Term Wealth

Owning real estate in Orange County and Huntington Beach isn’t always easy, especially with rising prices and limited inventory. But if you start young, stay disciplined, and think long-term, real estate will become one of the most powerful tools for building financial freedom.

If you’re ready to start your homeownership journey in Huntington Beach, I’m here to help.

Click here to begin your path to ownership

And if you haven’t yet, make sure to watch the full video here for the complete breakdown of these lessons:
https://youtu.be/DBKkNDRonJw

Ready to own real estate in Huntington Beach or Orange County?
Start here → www.jebsmith.net/start