Where do I begin?!

[Michael Kosztur]

Hello, I am new to the forums and I have an interest in real estate. To fill you in on some details, I am 18 years old, living with my parents and working a part time job as well. I am going to a junior college in the summer to work towards a degree in business/economic. Now what I real want is to be successful, and typically to do that it is going to take lots of work and the proper know-how. Back to the point, I would like to start investing at a young age and begin building a real estate portfolio. However, as you can imaging I don't exactly have deep pockets or mommy and daddy to look to financial help so I would like some tips on getting started.

If you read this then thanks for taking the time! I really hope to hear back from some of you!

(Also, I am aware there are numerous forum posts about the topic of "starting out", and I have been reading as much as I can. I just felt a little more comfortable making a post of my own.)

[James Vermillion]

I disagree with Jacob about the degree. Most real estate investors I know do not have real estate specific degrees, and a business degree is a lot more versatile if that is what you are looking for. I am not sure how long you plan on living with your parents, but I would take advantage of that situation while it lasts and put away as much money as you can. Investing in real estate without money has been discussed ad nauseam but it is much easier to get started in real estate if you can bring funds to the table.

In addition the getting your sales agent license can be a good entry and is relatively cheap in most places. This could also save you a lot of money in commissions depending on how many properties you are planning to buy or sell in the next several years.

One thing to start thinking about if you are looking to get out of your parents house sometime soon is buying a duplex which you can occupy one unit and rent the other. Many people have started this way and it seems to be effective.

Good luck!