NEED HELP, IM 16!!!!

[Account Closed]

I’m 16 years old and very interested in real estate, so much so I want to start my own real estate investment company as soon as I have the money and knowledge. But the knowledge part.... so I bought a few books, like Real Estate Investing For Dummies, and Investing in Real Estate Seventh Edition. But I don’t really understand them because they talk about mortgages, caps, asset allocation, tax deferring, liquidity. All these words that a 16 year old probably shouldn’t even be thinking about yet haha, but here I am. I understand that these books aren’t geared for 16 year olds, they are geared for adults who know these words already. I really wanna understand what I’m reading so here’s the question. Before I even start reading investment books, should I start with personal finance books? Does anyone know about a book that will teach you all about these financial, investing terms? Because once I understand all these words it will be much easier to read real estate investing books. Thanks!

[Shamus Wheeler]

Hi @Account Closed!

Nice job getting started at your age! Keep working on your skills and you'll get far. Here is what I would do:

1. Read those two books that you already have at twice the speed you usually read. The goal isn't comprehension at this point.

2. Highlight any term that you don't know the meaning of.

3. Create a list of all the highlighted words. This will set the framework for your studying.

4. Go down your list and look up each term on the internet. Investopedia has great videos that describe concepts for beginners. Use Youtube for any terms that you need additional help understanding. 

5. Take detailed notes on each of these terms. 

6. Reread the books after you understand all of the terms. By this point, you will have a strong enough understanding to skip this step. However, rereading the books will tie all of this information together for you. 

Good luck and have fun!