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Updated about 4 years ago on . Most recent reply
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Starting Out At 18 Years Old
I am 18 and still in high school living in northern California, I work a slightly above minimum wage job (~$30,000 annually before taxes) and live with my parents (so living is cheap, i.e. no utilities to pay). So far I am just learning about investing by reading books and watching videos. I am wondering how to start my journey off, do I get a better paying job so I can invest more per year, do I flip houses first then rely on monthly cash flow from rentals, or risk becoming a real estate agent by not being able to make due just to get certain advantages like MLS. My goal is to achieve around a $15,000 a month net cash flow semi passively before I turn 30. Having a hard time solving this problem with my lack of mentorship, with how much different investors contradict each other and how the average house in my small city is well above $300,000.
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Hey @Vincent Burruss! Welcome to Bigger Pockets. We see questions like this in the forums a lot so I'll be straight with you. All you need to for success in REI is education, market research, funding (skin in the game), and a DEAL. It's not rocket science. Connections with friends, family, neighbors, wholesalers, and real estate agents will get you those things. You won't reinvent the wheel and the first property is the hardest. If you like what another investor is doing copy them. Have pride in your work (flips) and maintain property (rentals).
Find those people in your market, find your niche, find a competitive edge, and get after it.