Best way a high school student get involved in real estate

Member since 2022 · 4 posts · 1 vote

Currently I am a high school student who has a passion for real estate and investing. I have big plans for my future, but at this point I don't fully know where to start. What advice could anyone give to someone my age looking to start out.

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James DainardPro Member

Real Estate Broker · Bellevue, WA · Member since 2015 · 415 posts · 1k+ votes

Quote from @Alexander Handal:

Hey Alexander!

It's awesome that you want to get started in the industry this early!

First things first is education, if you can find someone to follow and learn from you'll save yourself a lot of troubles in the future. Spend time on this site and at meetups if you can just getting to know people and learning from others.

Take the time to decide what your first deal is going to be, the strategy you want to follow then go about finding a ways to start saving for that deal.

Or find a way to get into wholesaling to make profits towards your own projects.

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Andrew Rellinger
Member since 2022 · 22 posts · 6 votes
3y
Work on creating a budget. Stick to that budget. A little sacrifice now can save a lot later!! Only go to college or trade school if you can pay out of pocket. College isn't as necessary as society makes it out to be. It does help get to a higher income if you study a STEM field. Keep in mind that after graduating you'll need to pay off your college debt, pay for your living expenses, and the small amount of money left over you'll have to contribute to real estate investing (REI). The less debt you have and the tighter your budget, the more you will be able to contribute to REI. I was able to graduate debt free with an engineering degree with no help from family, if you want to hear more about how I did this then DM me. If you are not in the position to go to college and come out debt free, then do this: What hobby are you good at that could make you money? then go and do that, start a business and side hustle to get some income, work a job or 2 and focus on living frugal, educating yourself, and saving capital. A little sacrifice now can pay huge dividends in the future. Right now, focus on reading about real estate and building skills for REI that don't involve having capital. read as many books as you can and get involved in the community. I suggest start off by reading How to Invest in Real Estate by Brandon Turner and Josh Dorkin. Once you read about strategies to invest in real estate pick out a book on that strategy as your next read. Also pick out a book on financing strategies for real estate.
TLDR: Educate yourself in REI, build capital, focus on the things you can do without capital (laying the groundwork, networking with others, building your team, etc.) while you build capital. I hope this helps, best of luck!
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Eliott Elias
Investor · Austin, TX · Member since 2021 · 9k+ posts · 5k+ votes
3y
Shadow someone who is full time in the industry for free. Reach out to people who are active in the industry and offer value, in any way you can
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Kenneth Zavala
Rental Property Investor · Houston, TX · Member since 2022 · 43 posts · 26 votes
3y
Quote from @Alexander Handal:

Currently I am a high school student who has a passion for real estate and investing. I have big plans for my future, but at this point I don't fully know where to start. What advice could anyone give to someone my age looking to start out.

Love the ambition Alexander! Not sure of your age but investors will need some value to let you shadow them. Approach the situation with a plan on how you can assist an investor. If you have a set of skills that you can already leverage I'd recommend leaning on that. Investors always need leads, you could educate yourself on mastering that and build relationships that way. You could drive for dollars for investors, which pretty much means just drive around and write down addresses of distressed looking homes. People would love to educate you but there has to be some value and proof of your dedication to grow in real estate. Let me know if I can help!
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Alexander Handal
OP
Member since 2022 · 4 posts · 1 vote
3y
Thanks so much, I appreciate all the help from you and everyone else in the community.
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Joseph CacciapagliaBusiness Member
Lender · San Antonio, TX · Member since 2020 · 1k+ posts · 1k+ votes
3y
I've hired several high school students to assist in my real estate business over the years. Find an investor or an agent that works primarily with investors in your area and tell them you want to work for them part-time. Offer to help with their administrative tasks, social media, or whatever they may have for you to do. It's hard to find motivated part-time/contract work, so whenever someone approaches me like that, I try to find something for them to do.

You could also probably take the real estate licensing courses online (depends on your state). That way you could take the exam as soon as your 18, or whatever the minimum age is in your area. I just recruited a recent high school grad to join my team. If you happen to be in San Antonio, feel free to reach out.
[email protected]979-218-2286
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Jeremy Watson
Real Estate Broker · Honesdale, PA · Member since 2019 · 35 posts · 13 votes
3y
Awesome!
- Read! Lots and lots of books.
- Digest tons of media (Podcasts/ Twitter / etc) This forum and all that BP has to offer is a fantastic spot to start.
- Find a mentor and be a productive asset (lawns need to be mowed? / painting? / social media for older owners***this is big)

I’m a RE Broker and have found my background has greatly assisted with our investing success, however, getting a RE License isn’t generally necessary but it does help understand the buying / selling process and how negotiations works.
You’re light years ahead of most. Take advantage and crush it!
(DM with any questions)

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Deandre P.
Real Estate Consultant · Houston, TX · Member since 2017 · 63 posts · 32 votes
3y
Lots of good points made already. I would say look at getting licensed. While it is not generally necessary it does help build a good foundation on the knowledge front. Also, can be a gateway to additional income after you graduate, at the very least you can represent yourself on any market deals and earn a commission. Best of luck.
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Dan SheeksPro Member
Rental Property Investor · Denver, CO · Member since 2016 · 621 posts · 362 votes
3y
Hey @Alexander Handal! As a high school student, your first step is to read this book from Bigger Pockets. www.biggerpockets.com/teen

It is specifically for teens who are exactly where you are right now - the beginning. This book is your launching point.

I am the author and have been a high school business teacher for 20 years. Let me know if you have any questions. Always happy to talk to beginners who are young like you!

Dan
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Nathan GesnerBusiness Member
Moderator
Real Estate Broker · Cody, WY · Member since 2010 · 28k+ posts · 41k+ votes
3y
Quote from @Alexander Handal:

Currently I am a high school student who has a passion for real estate and investing. I have big plans for my future, but at this point I don't fully know where to start. What advice could anyone give to someone my age looking to start out.

1. Start with BiggerPockets Ultimate Beginners Guide (free). It will familiarize you with the basic terminology and benefits. Then you can read a more in-depth book like The Book On Rental Property Investing by Brandon Turner or The Unofficial Guide to Real Estate Investing by Spencer Strauss.

2. Get your finances in order. Get rid of debt, build a budget, and save. The idea that you can build wealth without putting any money into it is a recipe for disaster and the sales pitch of gurus trying to steal your money. A wise investor will not try to get rich quick with shortcuts. If you can't keep control of your personal finances, you are highly unlikely to succeed in real estate investing. Check out my personal favorite, Set For Life by Scott Trench , or The Total Money Makeover by Dave Ramsey.

3. As you read these books, watch the BiggerPockets podcasts. This will clarify and reinforce what you are reading. You can hear real-world examples of how others have built their investment portfolio and (hopefully) learn to avoid their mistakes.

4. Now you need to figure out how to find deals and pay for them. Again, the BiggerPockets store has some books for this or you can learn by watching podcasts, reading blogs, and interacting on the forum. There is a handy search bar in the upper right that makes it easy to find previous discussions, blogs, podcasts, and other resources. BiggerPockets also has a calculator you can use to analyze deals and I highly recommend you start this as soon as possible, even if you are not ready to buy. If you consistently analyze properties, it will be much easier to recognize a good deal when it shows up. Find Brandon's videos on YouTube for the "four square" method of analyzing homes and practice. It doesn't take long to learn how to spot a good deal.

5. Study the market. You can learn to do this on your own or get a rockstar REALTOR to lead the way. I highly recommend a well-qualified REALTOR that works with investors and knows how to best help you.

6. Jump in! Far too many get stuck in the "paralysis by analysis" stage, thinking they just don't know enough to get started. The truth is, you could read 100 books and still not know enough because certain things need to be learned through trial-and-error. You don't need to know everything to get started; you just need a foundation to build on and the rest will come through experience and then refining your education.

You can build a basic understanding of investing in 3-6 months. How long it takes to be financially ready is different for everyone. Once you're ready, create a goal (e.g. "I will buy at least one single-family home, duplex, triplex, or fourplex before the end of 2019") and then do it. Real estate investing is a pretty forgiving world and the average person can still make money even with some pretty big mistakes.
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Ty AshBusiness Member
Real Estate Agent · Milwaukee, WI · Member since 2018 · 201 posts · 132 votes
3y
Hi @Alexander Handal!
I'd recommend that you keep/start learning! Podcasts, Books, and Mentors you find by networking.

I'd pick up a copy of Set for Life by Scott Trench as it has a good framework for financial independence, especially for a newer investor. Real Estate is just a part of your total financial picture so don't become too focused on just real estate. You'll want to learn more ways to increase your income now and in the future, keep your expenses low, and take the difference to invest into assets, real estate/business.

Once you get to the point where you're ready to buy your first deal, a house hack will probably be one of the best strategies for you to get started and take action while giving you a great return because of the low % down needed to get started. Once you get to this point, make sure to run your numbers for both while living in the house hack (lowering your living expense to less than what it would be to rent in your area) and post move out where you need to be at least break even after accounting for your monthly payment + maintenance, capex, vacancy, property management.

Best of luck getting started! Here for you with any questions you have along the way!
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Dwayne Poster
Investor · Van Isle · Member since 2021 · 455 posts · 226 votes
3y
The one thing that I see a lot of the younger generation being highly successful at is working the social media platforms. I’d recommend chatting with Realtors and offering to promote them on those platforms. Marketing is a huge component of their business.
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Aj Parikh
Rental Property Investor · Centreville, VA · Member since 2019 · 1k+ posts · 799 votes
3y
Hi Alexander!! Welcome to Bigger Pockets!! Your best bet right now is trying to educate yourself in everything related to real estate. Podcasts, youtube, bigger pockets forums and books are the best way to improve your mindset.
You should find a meet up group in your group and talk to as many investors as you can. During your free time, try to find experienced investors in your area and see how you can be of value to them. There are a lot of simple tasks that investors, realtors, construction crews needs help with so you can start getting involved with real estate. Feel free to reach out if you want to talk more about real estate.
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Jordan MoorheadBusiness Member
Real Estate Agent · Austin, TX · Member since 2015 · 5k+ posts · 3k+ votes
3y
@Alexander Handal I would look into working on a construction crew to learn that piece of things. Or work in a real estate office doing stuff like door knocking or stuffing envelopes
[email protected]512-888-9122
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Lexey Vezzoso
Real Estate Agent · Boise, ID · Member since 2019 · 192 posts · 184 votes
3y
Hey Alexander!
Start by either reading or listening (Audible) to real estate books. There are a lot of great ones to start with... "Rich Dad Poor Dad" "The One Thing" "How to make Friends and Influence People" etc. I also recommend watching Wholesale Hotline on Youtube, or Pace Morby on Youtube. The Bigger Pockets Podcasts are all really great to learn from as well. There are so many ways for you to get a free education while you're still young! If you can I would also look for a mentor in your area and see how you can provide help or value to them.
Reach out if there's anything else I can do to help you!
Good Luck!
-Lexey
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James DainardPro Member
Real Estate Broker · Bellevue, WA · Member since 2015 · 415 posts · 1k+ votes
3y
Quote from @Alexander Handal:

Currently I am a high school student who has a passion for real estate and investing. I have big plans for my future, but at this point I don't fully know where to start. What advice could anyone give to someone my age looking to start out.

Hey Alexander!
It's awesome that you want to get started in the industry this early!
First things first is education, if you can find someone to follow and learn from you'll save yourself a lot of troubles in the future. Spend time on this site and at meetups if you can just getting to know people and learning from others.
Take the time to decide what your first deal is going to be, the strategy you want to follow then go about finding a ways to start saving for that deal.
Or find a way to get into wholesaling to make profits towards your own projects.
Podcast Guest on Show Seeing Greene: Paying Off Rentals, Partnerships Splits, & Using Home Equity
11 Reply
Michael Brattelli
Real Estate Broker · Medford, NJ · Member since 2018 · 236 posts · 177 votes
3y
@Alexander Handal first things I would do at your age is read The richest man in Babylon and then rich dad poor dad. If you want to be an agent getting a mentor and getting in the business in your early twenties could be very beneficial later on if you want to build something of your own.
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Michael Liss
Member since 2022 · 1 post · 0 votes
3y
Get your real estate license as soon as you can
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Bruce WoodruffPro Member
Contractor/Investor/Consultant · San Diego / Phoenix · Member since 2021 · 12k+ posts · 15k+ votes
3y
Not much concrete that you can do at that age. I would start saving every dime you can, and spend every waking hour learning. The more you know about Construction and Real Estate the further ahead you'll be when you start.
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Gregory Nelis
Real Estate Coach · NC · Member since 2023 · 32 posts · 23 votes
3y
I like the idea of shadowing or interning with Real Estate proffessionals. Try to find someone that is in a niche, not your Joe Everyman. So for example you cold intern/shoadow an eviction lawyer or 1031 specialist as opposed to the realtor around the corner. There are many smaller things to be aware of, so education is key. Most people will help you if you ask.
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Scott Mac
Austin, TX · Member since 2019 · 5k+ posts · 5k+ votes
3y
Read Rich Dad Poor Dad, and save 100% of what you can earn.
Good Luck!
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