I want to get started (as a 15 y/o)

[Evan T. Ong]

Hello! I'm Evan and I've been reading about real estate investing (and other personal finance books) over the summer and I have learned alot and would like reach the seventh level of wealth via real estate. For the record, I have read:

- Loopholes of Real Estate by Gary Sutton

- Rich Dad Poor Dad by Robert Kiyosaki

- Investing in Real Estate with Little to no Money Down by Brandon Turner

- Tax Strategies for the Savvy Real Estate Investor by Han & McFarland

- The Psychology of Money by Morgan Housel

- The Book on Rental Property Investing (first book I've read here) by Brandon Turner

- The Millionaire Real Estate Investor by Gary Keller

Reading has been my biggest source for knowledge and Brandon Turner has become one of my favorite authors now!

I don't have a job yet and I'm about to start 10th grade, but I'm hoping to get experience in this market as soon as I can and to create my network model. I'm not sure where to start, but I'm hoping that I might be able to shadow an investor to teach me the in's and out's of the whole buying and renting process, so I can get a feel for what to expect and develop some prior experience. Unfortunately, I'm not allowed to attend any seminars or classes (due to budgeting issues), and I can't study for a real estate agent liscense and join a club until I'm 18. I hope someone can offer me to find an investor who would be willing to have me come along just to gain experience (preferably on the weekends and over school holidays and breaks). If there is any other suggestions to help me get started please let me know because I want to pursue this wealth building strategy. Much appreciated!

P.S 

I'm a little anxious because this is my first time using the BiggerPockets forum so please be patient with me!

[Bruce Lynn]

@Evan T. Ong

I think you are off to a great start.  Here's some different ideas probably than others will suggest to you.

1.  Keep up the reading and study.

2.  Seminars and training--one thing you might do is ask to be a volunteer.  Many of the gurus and real estate clubs always looking for volunteers to work the registration desk or help with setup and breakdown.  In exchange you might get in free to trainings.  I think many will be inspired by your youth and give you a shot.  There are also free meetups in the Dallas Ft. Worth area.

3.  Spend ever holiday and summer working for trades right now.  Not sure how your weekends look, but you could help with cleanouts for example right now.  Dirty work, not fun work, but will get you inside a lot of homes, maybe help you learn Spanish, and help reinforce how picky you want to be with tenants.  By next Summer and over the next several Summers you should pick different trades...next Summer go to work for an electrician, the next a plumber, the next an AC company, the next a roofer, the next a painter.  Learn all the basics on how to price and fix things.  In all those jobs, practice your Spanish as much as you can.  If you still have Summers left after that, go to work in an apartment leasing office and then in an apartment maintenance office.  So that will keep you busy for the next 6 Summers at least.   This will teach you a lot about repairs and construction.  Even if you are not an expert electrician after a Summer or a year of weekends and holidays, you will know more than most and perhaps be able to do your own minor repairs and know where people you hire in the future cut corners and you will learn appropriate pricing.

4.  When you are 17 1/2 start taking the classes for your license, so you can get licensed the day you turn 18.

5.  Save $50,000 between now and the time you are 22.  You can do it.  Seems like a big goal today, but you can do it.  As you are saving, get your mom to help you open a Robinhood account.  $1000 at a time, buy 10 different real estate stocks with your first $10,000.  Read all their annual reports and watch their earnings calls.  Review their stock prices weekly.  The next $40,000 you can buy broad market index funds.  This will give you a nice nest egg to start investing during college.  Buy a builder stock, commercial real estate stock, maybe a brokerage stock, and others.   You can start tracking some of those today on google finance.

6.  Consider housing hacking after your first year in college.  So perhaps in partnership with your parents, you buy a 4-5 bedroom house.  Rent to your college roommates 3-4 bedrooms and manage the place.  Pay the mortgage, do the maintenance, find the tenants, sign the leases.  At the end of college if that is your plan, then you can keep it for a rental or sell it to do your next deal.