Preparing To Become A Rental Property Investor

[Aj Fortson]

Hello Everyone!

I am a 17 Year old that is very determined to learn how be a rental property investor and had some questions. I finish most of my requirements to be able to graduate at the end of this semester but I just reclassed so I essentially have 2 years before I graduate highschool. This is primarily for basketball but I want to use it to my advantage to learn and do what I need to do to become a real estate investor as soon as I graduate. I do not have a consistent income as I am about to take over my dads lawn business which is seasonal and I have never worked at a normal job (so not on tax forms). I do not have credit but I have been trying to remind my dad to help me get a credit card to build my credit. I have been eager to learn and have been spending a lot of my time reading, listening, and watching, whatever I can about real estate investing. But I really just need some advice on where to start. Should I get a part time job for consistent income and to save cash reserves and get a credit card now? And if so what else can I do to truly prepare myself to be able to invest as a young adult? If you want to know what my specific plans are for real estate just ask me. Thanks!

[Paul Merriwether]

@aj 

@Aj Fortson CONGRATULATIIONS on deciding to make real estate apart of your future. 
My suggestion is use your lawn biz to meet and work with local RE investors! INVESTORS! Individuals that know how to work the money! Other people's money (OPM). They are buying property in your area and need those laws cut regularly. Even investors like us that purchase property out of state. I recently paid $1200 to have a lawn cut on a large lot. Meet those individuals here on BP & facebook RE groups etc. Read Rich Dad Poor Dad, Free Think & Grow Rich. Also read Scott Jelinek, Slow Flips a whole different approach to RE investing. It's on Amazon for about $13. Or Listen to the audio I think for free as a new subscriber to Amazon's Audio. Then cancel or listen to other RE professionals. 

In terms of building credit that's EASY!!! Start on Credit Karma! Get a Secured card. You put in say $300 and use the card while paying it ON TIME!!! A card that reports to credit bureau's. Within months you'll have a score over 620. Your mother & father or anyone else can add you to their cards as an authorized user and that will help build your score (make sure it's cards in good standing). ALWAYS pay on time on your cards!!! 

BP has great info and thousands of investors, investing in all areas of America. Let me also mention Udemy.com affordable RE education. Now you have all you need to start and become a very successful investor in a very short amount of time! 

WISHING you all the success in the world!