I'm in high school.... Can I start now?

Question

I'm 17 years old

I have a little more than one high school semester left until I'm out for summer then off to college.

But I started reading a lot of about real estate investing and it sounds really interesting. I read on articles that say you can start young but

how can I start because I'm only 17?financially I think I have the ability to start the journey.

Chris Christianson · Answer

Welcome to the site @Joshua Gutierrez

I was thinking the same thing @Walter Ichikawa-Doyle  just recommended.  A mentor of mine purchased his first home while in college and rented it out to friends/tenants.  He was able to live in this house for free while in college and sold it for a sizable profit when he finished.  I wish I had been that smart back then.  Just make sure you are landlord first and friend second or they'll walk all over you...probably.  Not a bad way to double down on your education.

My friend, who's now 58 I believe, owns millions in real estate and a nice little 48' sail boat on Chesapeake Bay.  If you're in to that kind of thing.

Account Closed · Answer

In most states one can not legally sign contracts until they are 18.  However you can bird dog now.  It's a good way to get your feet wet.  I did this with my high school son.  He did some bird dogging for me over the summer.  I would sell the house and when it closed I'd pay him a finders fee.

Walter Ichikawa-Doyle · Answer

@Joshua Gutierrez  - Welcome to BP!

One option for someone about to go off to college with the funds is to try to purchase a property for you to use while you're in school, and rent out the other bedrooms. I've heard of a few successful investors that started out that way. Your investing in your education while also real estate investing.

Good luck with whatever you choose and keep on getting educated!

Jesse T. · Answer

Agreed.  An easy way to get your foot in the door would be doing some work for a real estate office.  It could be trivial stuff like placing for sale signs, etc. but it should be paid.  Even mowing lawns for an investor with a number of properties could be a good start.

Josh Lawrence · Answer

Welcome! I started thinking about REI in high school as well and now im 23 with almost two rental properties (closing on the second in January)! Dont give up and use common sense, it goes a long way! Good luck to you my friend.

Josh

Frankie Woods · Answer

Welcome to BP!  I wish I started thinking about R.E. at your age!

Robert Easter · Answer

Never take an unpaid internship, which requires you to do anything for the company including fetching coffee for the owner.

It violates all US federal employment laws and you can always find a reputable mentor that doesn't take advantage of you.

More importantly... don't get into the habit of giving yourself away.

Brandon M. · Answer

Joshua,

A few of the people have made some good recommendations, but I will suggest a few more. Of course continue to read everything you can, be heavily involved on here, read all of the forums and blogs you can on here.

My next suggestion would be to seek out a job/internship with someone in your local area. A rehabber/flipper, something of the sort that does the type of work you are interested in. Could be paid, might be unpaid. You might be asked to do a lot of remedial tasks, but the point is you will be there involved in the business to glean as much information as possible. Formal education is important but you can't beat the real life "education" you will get from being fully immersed in the field. You will be amazed at the information you could learn by tagging along with an expert.

Just look up rehabbers/flippers in your area and reach out to them. You will find one who would be glad to take on an intern to do some of their tasks for them.

This could be done while in high school and through college as well. While in college, try to take any real estate classes you can get into, this will help teach you the basics.

James Wise · Answer

@Joshua Gutierrez

welcome to the site.

Jon Huber · Answer

@Joshua Gutierrez Good to see you taking an initiative early. That being said, there are pros and cons to starting out young. Pros: No bad credit, young enough to recover from mistakes (that we all make). Cons: No credit at all, usually less income, experience. That being said, you have the perfect opportunity to educate yourself for when you are ready to make the jump. Listen to the podcasts, and read the books mentioned in the podcasts. Post questions, and join local meetups. Work hard, live below your means, and save every dollar you can. You should be well prepare for when you believe you are ready to jump in. Good luck

I'm in high school.... Can I start now?

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