How can a 17 year old start in Real Estate Investing?

Question

Hello BP! For the past several months, I have been lurking on BP, reading a lot of informative blogposts and listening to some of the podcasts this site has to offer. I am reading The Book on Flipping Houses right now, my 2nd Real Estate book. I really love learning about Real Estate investing and I feel that this is the right field for me. However, I face one major problem, my age.

I just turned 17 and there is not much opportunity for me because I'm not 18. I can't buy Real Estate and even if I could, I have little money, which has to go towards a car. While I learn more about RE, I also want to get out there and get started in the business. Are there any opportunities for me, or is it just too early? I've considered bird dogging but I highly doubt that anyone would listen to a 17 year old. Thank you in advance.

Mike Petrosinelli · Answer

Thank you guys so much for your advice. The San Diego Investment Club posts the guest speakers talks online, so I have started watching those. Question: For "networking", do all the investors sit, talk, and exchange information, or is it more than that?

Nicole Pettis · Answer

@Mike Petrosinelli

Welcome to BP! Good to see someone your age being this ambitious, if you stay focused and persistent then you will definitely go places!!

I would never look at age as a problem, in fact it is an advantage, because you are starting out young and have time to educate, learn and save.

If I were in your shoes, I would do all the reading and education you can. Take notes and go back to the books that you felt were the most impactful in your education. I would also read books by Dave Ramsey. Total Money Makeover(teaches about cash flow and how to save) and his Entreleadership. These are both amazing books that will help you along the way. Also, I know there is a list floating around here on BP of 100 books that REI need to read, so I would get a hold of that and just go down the list.

Then I would start setting goals, write them down and set them somewhere you will see them everyday. This will help keep you focused. And always keep them SMART.
S = Specific
M = Measurable
A = Achievable
R = Relevant
T = Time

So for example, instead of saying "I want to be a Real Estate Investor" you would bring it down to the baby steps of what that means. By the age of 25, I will have saved X amount of dollars to by my first buy and hold or my first flip or whatever your REI goals/strategy is. Don't make them broad because that can be overwhelming. Just keep them simple.

And like Curt mentioned, get involved in your local REIA and maybe try to find a mentor. Offer to be their intern in exchange for them teaching you the business, then go from there. Also be open to learning. Listen, take notes and ask questions. Be dependable and follow through, because all of those attributes will take you far and people will take you seriously.

I hope all of this helps and if you have any other questions, just let me know!

Nicole

Scott E. · Answer

Wow... Your head is in the right place for a 17 year old. If you stay on course you will grow to be very successful in your ventures.

My advice mirrors Curt's. Spend some more time getting educated and networking. You have another priority right now and that's just graduating high school!

It would be nice if you could find a mentor figure around your area to shadow / assist.

Curt Davis · Answer

You might just want to stick to learning as much as you can and possibly try to attend ant local investment clubs in your area. It would not hurt to meet others and start mingling with people who are active in doing what you will hopefully be doing soon.

Good luck!!!

How can a 17 year old start in Real Estate Investing?

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