17-year-old Investor Seeking Advice

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Hi guys,
I'm a senior in high school and I am very interested and very serious about investing in real estate. I understand some of the basic concepts of real estate investing, but I do not understand how to go about finding good investment properties and how to invest in such a property when I find one (Can anyone recommend a book for this?). What are the benefits of flipping vs. renting properties? I pointed out my age to make it clear that I do not have a lot of money, so I was hoping someone could point me in the right direction to go from here. Perhaps some recommended books regarding the "need to knows" about mortgages, incorporating properties, etc. From what I understand one of the best places to look for real estate properties in my local area is the classified ads in the home/real estate section of the newspaper, but I would appreciate it if someone could correct me if I am mistaken. I don't know much now, but I'm willing to learn :wink: . Thank you :D !

P.S. I live in the Dallas, Texas area so if anybody knows of a real estate investors group nearby where a young, novice investor like me would be welcome to ask and learn, I would appreciate it. Feel free to contact me for this or any other reason. Any feedback regarding this post would be overwhelmingly appreciated. Thanks again!

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Chris - I'm sure you've heard the "Do as I say, not as I do" thing more than you care to, but....take the advice!!

Almost 40 here, and I have made a 15 year 'career' of making other people money...a lot of money!! I have been in the public sector in the development world and cannot tell you how many times I have "made the deal, saved the deal" and the other guy has made the profit. But you know, I have been good at it and that WAS my job... to make the other guy profitable...after all, it was him that took the risk!

I have taken tons of real estate courses, had a license, negotiated property acquisitions, etc. and always chalked it up to 'doing my job'. I have had the luxury of being inside the inner sanctums of big money developers doing big money deals..Fortune 100 companies. I always figured I'd be in the public sector and underpaid for it.

What I seriously forgot about after doing this for 15 years, was all the knowledge that I was gaining.. I was going to be able to take away with me for free :wink: Now that I have finally 'smelled the coffee', things will be different 8) I cannot tell you why I wasted all this time...

If I can give you any advice...take all the opportunities along the way to learn something that will take care of YOU and YOUR family over the long-term. Build your life 'portfolio'. You don't have to grind people into the carpet along the way, just learn from every experience. Put yourself in the right places..you won't regret it!

That said, I would seriously try to get an internship with a GOOD title attorney, title company or a local developer that has an interest in teaching as they go. You will learn things there that you can not learn in school...and you will get an unbelivable education on this stuff from the 'inside'. Not to pick on my own profession as an RE Agent but taking the real estate course, which is a great introduction to the subject, will only get you to undertsand how to sell or buy for others...not neccessarily for yourself.

And by all means...ask as many questions as people have the interest in answering :wink: