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Updated almost 4 years ago on . Most recent reply

User Stats

41
Posts
62
Votes
Cameron Dye
  • Fort Smith, AR
62
Votes |
41
Posts

What Should I be Doing as a 17-year old?

Cameron Dye
  • Fort Smith, AR
Posted

What's up BiggerPockets community! My name's Cameron and I'm a 17 year old high school senior from Fort Smith, Arkansas. I'm going to college next year at the University of Arkansas to study Investments and Securities but my biggest passion is Real Estate. From the time I read "Rich Dad, Poor Dad" I've been fascinated by the concept of real estate investing, specifically multi-family real estate investing. I dedicate almost all of my time to learning from the typical sources like books, podcasts, and youtube videos etc. My question is, whats the next step?

What action should/can I take now? I know I need to build my network and experience/knowledge and the best way to do that is to find a mentor and provide value, but what can I do at 17?

I have no aversions to working for a real estate agency or investment group and making cold-calls (for free, in exchange for experience and knowledge) or something like that, but is that something that's even possible for my age? My main concern right now is getting educated and developing the necessary skills to succeed in this field while also building up my network.

Any and all advice is greatly appreciated, I'm VERY ambitious and I have some pretty big goals so I'm very eager to get started with this!

Most Popular Reply

User Stats

136
Posts
192
Votes
Andrew Flora
  • Rental Property Investor
  • North Vernon, IN
192
Votes |
136
Posts
Andrew Flora
  • Rental Property Investor
  • North Vernon, IN
Replied

My advice is my opinion and it is very extreme but if you're serious about real estate and retiring at 30 this is what you do.

Dont go to that university(unless you have a full ride scholarship). The student loan debt will cost you years of retirement. If you must go to school go to trade school or community college.

Never finance a car for any reason.

Work two jobs for a few years to try to save your first 20-30k or more. Consider working for a contractor to learn handyman skills, that will be very valuable when you start investing.

When you buy your first home you must buy a multi family with an FHA loan and house hack.

Avoid debt on anything other than rental properties and live very frugally.

Dont date until you are 25. By then you will know what you truly need as a partner, find someone with the same drive and frugal discipline. If you marry someone that wants a big fancy house and always needs a brand new car you will forever be trying to make up for those debts.

If you do all this and stay focused you will be financially free no later than 30.

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