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Updated over 9 years ago on . Most recent reply

Account Closed
  • Canton, OH
0
Votes |
11
Posts

What are my options for being 16 years old and involved in RE?

Account Closed
  • Canton, OH
Posted

Hi! My name is Blake, I'm new here to the BiggerPockets community. I am 16 years old and currently in the process of building as much knowledge and skills necessary to succeed in the real estate market for when I turn 18 (Age required to sign anything). I am still attending high school, but will be graduating exactly one year early. With that being said, this will be my last year of high school. I plan on physically meeting with local, experienced, real estate agents in the hope of finding a good mentor. I was curious if I should stick to having a mentor and then obtaining a real estate license when I turn 18 or if there was a way to take a step forward into wholesaling homes through an agent and giving them a good sized cut of profit. I am aware this is a difficult process, many variables come with it, and I am not anywhere near prepared for this yet. But would this be legal to do? The wholesale deal would be found and lined up by me but carried out by an agent who would receive a good cut. I do not know much about this, as I've only been reading up on real estate for three days now. I am interested in the "wholesaling" idea because of the "little to no money down" idea. I planned on doing a few of these deals regardless of waiting to be 18 or not to help gain the skill of finding good deals, and overall real estate experience. Any advice is much appreciated. Thank you for reading!

Most Popular Reply

User Stats

70
Posts
40
Votes
J Scott Hamilton
  • Entrepreneur and Linguist
  • Braddock, PA
40
Votes |
70
Posts
J Scott Hamilton
  • Entrepreneur and Linguist
  • Braddock, PA
Replied

Any chance you can get some hours working on the construction or landscaping side of things? It would be great experience when you're ready to do fix and flip.

My brother ran a lawn service business when he was 16, and had a crew working for him. Later in life he had good experience to speculate and to run his own projects developing from the ground up on empty lots. He retired as a millionaire in his 40s, cash in the bank.

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