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Updated over 2 years ago on . Most recent reply
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I'm 16 and my dad is willing to help me sign for investments.
My name is Jason Raynor, I'm 16 and currently live in North Carolina. I have right at $1,000 dollars and climbing set aside for investments. What are good options for someone my age and in my position? I understand how the market works and about the basics of financial IQ but I need someone to point me in the right direction. This is why I started my BiggerPockets account, so I can reach out to people who know the industry and that can help me build connections. I have decided this is and will be my future and I'm willing to take any advice. Thank you!
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Quote from @Trenton Miller:
I wouldn't start talking to lenders just yet. What I would do it dive deep into the BiggerPockets community and learn as much as you can before jumping into anything. Real estate is exciting but you really need to understand what you are doing. You can talk to lenders however they will not talk to you, they will be talking to your Dad. That's the reality of the situation. Great job saving up but continue to save that money for now.
As much as I agree with the statement, I started investing as a teenager. I purchased a 5 bed 3 bath home with a VA loan at 19 years old. I paid $4-5k or so upfront for closing costs and that was it! Of course, unless you joined the military you wouldn't have that benefit. BUT, even just being a couple years younger, you could still call lenders and ask them some questions. When I was still much younger, it's not like the lender said "can I ask your age?" then they turn away. Good lenders will still provide you tips and advice in which will help you. Worst case... you wasted 5 mins of their time, but they should be willing to help others. I will admit you can find those lenders right here in the forums. Feel free to message me if you want to talk!