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Updated about 1 month ago on . Most recent reply

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Daniel Murphy
  • Financial Advisor
  • Saint Paul, MN
115
Votes |
159
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Intro jobs for a 19 year old

Daniel Murphy
  • Financial Advisor
  • Saint Paul, MN
Posted

Hey all, I'd like to look into options to get into the RE world for my 19 year old daughter. 

She's a hustler and has been working hard since her 1st job at 16. Shortly after she started, they wanted to promote her to a position that was only for 18+. Shes a hard worker and really smart.  Her plan was to buy her 1st house at 18. She has the money, but not the income.  We're currently looking for a 1st purchase. But more importantly... 

I'd like to hear what your thoughts are to get into the RE industry for a 19 year old that is more of a W2 job, not a commission based.  For a number of reasons, she's just looking for stability & a good job in the industry right now. 

Thanks in advance! 

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Replied

Could be a few options to get her feet wet.

1- find local landlords, REI's, property management companies etc looking for "gopher" or helper. This could be like an assistant property manager running small errands, setting appointments, doing walkthroughs with tenants, etc. Would give her a chance to see the little things that go into being a property manager.

2- find work related to REI like a move in/move out cleaning business for tenants or landlords. Maybe a yard maintenance (gardening, snow removal, lawn maintenance, etc) service. If she's handy, maybe a handyman type service of some kind? Maybe an answering service type thing to take some phone calls off the landlords plates in the wee hours like a virtual assistant type service?

3 - If she's looking at buying her first property, dive in head first! See if there is an option of getting a duplex or something with multiple rooms that she can house hack. She can live in one room or unit and rent out anything else she doesn't want or need (garage, storage space, other rooms, etc). Would give her a chance to learn the ropes a bit on the role of a landlord/property manager and see what's involved. Maybe seek out a mentor (find a local REI that house hacks for student housing? One that focuses on duplex/triplex's?) to help getting her started and make sure the basics are there? That rent by the room can supplement whatever other job she might have (related or unrelated to REI)

While most of these would be self employed type ventures there should be some businesses around that already do these services that could get that stable income, or could be something negotiated with an REI/landlord to make it a salaried position? Maybe get on with a job at a campground, trailer park, condo management company? Would have similar duties to a property manager collecting rent, odd job calls, etc. with a variety different tenants. A chance to manage a "portfolio" before putting her own skin in the game.

If there is an inkling of what direction in REI she wants to go you can narrow your sights on that...house flipper could start with handyman type jobs to figure out renovation ideas/skills...a wholesaler could start with just any kind of sales/negotiation type job...a buy and hold landlord could be any kind of Jr Property Manager or assistant type job.

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