Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Starting Out
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 6 years ago, 04/10/2018

User Stats

4
Posts
5
Votes
Noelle Robinson
  • Olympia Fields, IL
5
Votes |
4
Posts

16 year old Interested in Real Estate

Noelle Robinson
  • Olympia Fields, IL
Posted

Hi, I'm Noelle, I'm from Chicago and currently reside here, and I'm 16. My dad piqued my interest in real estate since he rents buildings and does flips here and there, however he's not very....willing to share his expertise with me until I'm in/out of college since he doesn't want me relaying any information to my mother. It's a whole thing. I'm here because I'd like to learn more about real estate (especially what do to when you're first starting!), wholesale buying, and flipping houses. Specific topics I need help with are: should I look into majoring in business as related to real estate (perhaps getting an MBA) or is this a waste of time, when should I try to buy my first property (as in how much money should I be looking to spend), what type of property would be best (apartment building for rent, SFH, wholesale, etc), what banks would be best to get a loan from should I need one, business and real estate books/ebooks I should read, and the pitfalls/rookie mistakes beginners make.

After a little reading here and there, I figured my best plan is to save up while I'm in college and then buy a 2-3 flat, live in one apartment, and rent out the rest so my tenants essentially pay the mortgage. While that sounds easy enough, that doesn't leave much net profit! Is this even a feasible option for a kid straight out of college? How do I maximize my profit and work towards a 6-figure "salary" by the time I'm 30? I have so many questions! 

I know I must seem like I'm moving too fast for my age but I don't want to be a person who goes to college, gets a degree, graduates, and then goes, "Well, now what?" I want to have a PLAN and know what I'm going to do so that I can have a comfortable lifestyle as soon as possible. From what I've heard, debt is the worst!

Please respond, anything helps!!

Loading replies...