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Updated almost 5 years ago on . Most recent reply

User Stats

8
Posts
3
Votes
Nicole Sena
  • Realtor
  • Yonkers, NY
3
Votes |
8
Posts

18 year old trying to start

Nicole Sena
  • Realtor
  • Yonkers, NY
Posted

I'm 18 with very little credit but have been a dental assistant for 2 years now and just recently got my real state license. I've been educating my self with different loans and seminars and books on house hacking and how to get my first rental property. Things seem to be hard on me based on my credit history not being long enough. Does anybody have any advice on how to make this happen this young. I believe anything is possible. I'm considering partnering with someone that is a close friend or family with great credit and other qualifications for a loan. Besides that does anybody have any other real advice on how to be able to qualify for a mortgage at this age or through somebody else ? Do you think becoming a great real state agent and just saving up more money than I already have saved up will help a bit more?

Most Popular Reply

User Stats

54
Posts
42
Votes
Jacob D Cockerell
  • Appraiser
  • Leitchfield, Ky
42
Votes |
54
Posts
Jacob D Cockerell
  • Appraiser
  • Leitchfield, Ky
Replied

I agree with @Benjamin Seibert. Don't get in a rush to start investing, build a good finical foundation. Saying that, buying a duplex and house hacking could be a good way to start investing while building your finances. Also check out Grahm Stephan on You Tube he has good videos on how to build your credit. One trick that may work is have someone you know with a good long standing credit card add you as a user to the card. Their good history will add to your credit. Its no real risk to the person because you won't actually have access to the card. Just keep an eye on your credit with credit karma or something because if that person ever starts to default it could hurt you. At which point you could just take your name off the card... but seriously don't start before you're ready even if it takes you a couple of years to build the capital you need. 

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