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Updated over 5 years ago, 07/13/2019
Investing in Real Estate With Nothing But Time?
I have to apologize in advance, because I am sure this topic has been beaten to death, I just hope to clarify some things and introduce some new thoughts to everyone else that wants to get into this thing full time.
My name is Benji, and I am 17 years old. I first discovered the idea of passive income, financial independence, yada yada yada, a while ago, and have just been overwhelmed by the vast quantity of free information on the internet and in the books at my local library. I'm completely sold on the idea of investing in real estate and making passive income (specifically using the BRRRR method), but the more I dig for information the more overwhelmed and frustrated I get. I want to live the life of a landlord and eventually the person leading a team, but trying to decipher the insurmountable amounts of knowledge shared on this site and many others is a lot to comprehend and often leaves me frazzled.
Basically, my reasoning behind starting this thread is to get opinions on how to get this thing off the ground. I have a small amount of money, around 700 dollars, stored in a student saving account. I have no job, but am always looking for small side hustles. I want to put away as much money as I can before I turn 18. I plan to open a credit card the day I turn 18 and to start building a credit score as early as I can so I can qualify for loans.
Also, another problem I have to overcome is my parents strong encouragement that I go to college. I obviously see the value in higher education, but when I compare it to how much I could make with a head start in real estate, I fail to see the downsides of continuing a formal education. The time and money I would waste by going to college for so long could severely hurt the head start that I could take.
So what are all of your thoughts on this? Where can I access the information I need to get started, maybe in a diluted form, so I can start applying it and seeking a career in investing? Should I be pursuing a mentor? It almost seems like I know less now than I did a couple months ago. I'm so incredibly motivate and excited. I'm literally on the verge of tears thinking about all the opportunity I have to make my life into whatever I want it to be. I have a nasty habit of feeling stuck, and through real estate I can see a bright future for myself. What are your thoughts?