Recommendations for young investor

[Jonathan Franklin]

Although being a 12 year old is way to young to even consider becoming a future real estate investor I still would greatly appreciate some recommendations on some Books/Videos/Websites things in that nature about becoming a successful real estate investor, or even some words of advice, or should I even be thinking about becoming a Investor. Thanks in advance.

[Mindy Jensen]

@Jonathan Franklin, both @Brandon L. and @Curtis Bidwell are correct, but being so young, you can expect some challenges that older investors won't face - namely your age. If you can get your parents on board with this, that would be HUGE.

Here's a link to a post from last week, where I talk about a 14-year-old who bought a rental property.

You're asking the right questions - what are books/videos/websites. This is going to be completely self-serving, but I recommend BiggerPockets.com. Your free membership gets you access to about 99% of the site so take advantage of all that you can learn here. The Podcast is a great place to start. Download about five episodes - you can pick and choose or listen in order - and start learning from other people's mistakes.

You aren't legally able to commit yourself to a contract to purchase a home at your age, but that doesn't mean you CAN'T purchase a home. 

Another thing to consider is getting a real estate license. Again, your age is going to prohibit you from getting it for 6 years, but you can start taking the courses when you're 17 and take the test on your 18th birthday.

I see you're in San Jose. That's going to make things just a touch more difficult. I've heard real estate there is a little pricey. :)

You're also just a little too young to be building your credit score on your own, but ask your parents what their score is. If they've got one of those awesome scores, having them add your name to one of their cards can help you adopt their score. How amazing would it be to have an 800 credit score at 18? Pretty flipping amazing.

If you're really serious about investing, San Jose is going to be a tough market. Look to the Midwest's significantly lower prices as an alternative to local investing. Do you have family in Ohio, Indiana, Kansas or Missouri? Those are pretty-good cash-flowing states. Having someone local is great - maybe you go stay with your Uncle in Indianapolis for a few weeks while you look at houses there. 

Man, I think back to myself at 12. Buying a house wasn't even on the radar... Good luck!