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Updated over 4 years ago on . Most recent reply
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Im 17 years old and I have no idea where to start
Okay so about 1 year ago i read a book that changed my mindset called Rich Dad Poor Dad and since then I've been saving up money through some jobs i worked at. I used to read up on books about stocks but i quickly realized i wasn't very passionate about that but then someone recommended me Brandon Turners blue book on Rental Property Investing and i quickly loved the idea of renting out houses or fixing them up.
I'm feeling a bit overwhelmed and i don't know where to really start. Do i educate myself more? Do i save up more (currently have 2,400)? I would appreciate your insights and advice on what i should do and how to start off at 17 .
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WOW! 17 and already thinking about investing - kudos to you. (and I thought I started young (26))
Gaol: buy your first rental before you are 18
what you need to do:
1. Invest in learning how to evaluate and analyse an investment
2. Don't be pressured to buy - take your time
3. Find/follow a mentor - start building knowledge and build your "bible"/checklist
There is so much to learn. and many great resources.
You can signup for a course or spend hours on YouTube/Podcast
If you choose the latter - take notes and come up w/ your Do's and Don't list
If you have no cash - your best option would be seller financing. that will take time to find but will work in your favor.
I hope you hear this one FULLY: If you play this right you can be FREE and CLEAR by the time you are 30-35. There are people in their 40s and after that are still trying to figure it out . . . 17 WOW.
Good luck