Real Estate investing for an 18 year old

[Eli Keckeisen]

A friend and myself are deadest on achieving financial freedom. We do not want to be forced to work for the rest of our lives and instead want to build our wealth starting early. We are both 17 years old and a Seniors in High School. I have 3,200 in liquidity and I estimate I should have north of 5,000 before the school year is over(we have been flipping furniture on Facebook marketplace and have made nearly 1,000 in the past 4 weeks). 

Both myself and my friend are deeply contemplating rental property investment when we turn 18. We project we should have somewhere around 10k cash by the time we both turn 18. Our market is around the flint area of MI and we are looking at purchasing a multifamily property. We are aiming for the nicer parts of flint with clean water, good schooling, and stable infrastructure. We are looking to buy a duplex, or triplex under 200,000 with either a fixed rate FHA loan or a 203k loan. We would be house hacking for 1 year and cosigning the loan. We have also secured a real estate agent who will only take 4% commission and who will guide us through the process.

Obviously our plan is very elementary in nature as we have analyzed a minimal amount of deals and are not entirely confident in our abilities to determine the ideal purchase. However, I'm looking for some advice from investors who also started early or have experience in some capacity. Maybe you could lend us a hand in our thought process and open our minds to strategies that would be conducive to our goals and financial constraints. 

[Benjamin Seibert]

@Eli Keckeisen I was interested in RE at the end of high school as well. I'd recommend starting off with more education. Reading Rich Dad Poor Dad, Millionaire RE Investor, any of the BP line of books etc. Then solidify your RE investing goal (dont want to get tied up in a property that doesnt fit your goals). Then analyze as many properties as possible in your target area (youll get a feeling for good deals) and try to build relationships in your area. Then, take action. Goodluck!