19 Years old Exploring Investment Opportunities

[Jacob Merritt]

Hello BiggerPockets!

My story starts late last year when I decided I wanted to break away from the traditional college route and pursue financial freedom through real estate. After my first semester, I made the decision to drop out and get my real estate license with the intention to save up enough commision to get my first investment property and scale from there. Shortly after passing my exam and hanging my license with a brokerage, the world was impacted by COVID-19. During this time I've saved what I can and will have about 10 thousand to invest by the end of July. As well as savings, I've built my credit score to about 710. On top of that, I've also been doing lots of research into the types of investments as I presumed it would take me atleast a year as a new agent to accumulate this amount of savings. From what I've gathered so far my options are to partner up with another investor(s), try to get a hard money lender to finance a sfh BRRRR, or lend the 10k myself for a portion of interest to other investors. Note I didn't mention any sort of FHA multi-family as I don't believe I can qualify with limited to no income or tax return on record as much as I like the sound of "living for free." My biggest hitch at the moment is trying to figure out where to set my sites going forward. I'm open to all suggestions as this forum is what helped me start my real estate career in the first place! Should I take a step back and put the money I've saved back into my career as an agent or is investing into something viable at this point? I'm very motivated and can put in the work needed to make things happen, any suggestions are very appreciated! Thank you and I hope everyone's still staying safe!

[Dave Foster]

@Martin Bastida and @Jacob Merritt, Wholesaling when you cannot and do not plan on actually completing your contractual obligations is first of all practicing real estate without a license.  Secondly it's actually fraudulent. Don't go that route guys.  Be patient.  Time is on your side.  The amount you miss out on while you build your war chests is miniscule compared to  what you'll make on a well structured first deal.

Jacob I wouldn't give up on that small multi idea just yet. Yes you probably have some income seasoning issues to wait through.  But you can  use your contacts as a realtor and the tools provided by your broker to locate an eager seller who may be willing to owner carry in first position.  Or they may have empty units and no desire or energy to fill and manage.  You could work out a master lease with them along with a purchase option.  So you get to live there and you get to operate it and make the income.  and when your war chest works you can buy it.

There's going to be lots of options coming up.  Stay loose.  Both you guys are impressive in where you are in your paths this early.