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Updated over 4 years ago on . Most recent reply
Where to start in RE investing at 16
Hey everyone my name is Eduardo and Im 16. I want some advice as to what I can do to start out RE investing. I want to know something specific that I can do. Thank you for your time
Most Popular Reply
@Doug Pintarch thank you for the advice. I do have lots of experience on how remodels work since My dad used to flip houses, and we used to work on them all the time. But I will keep that in mind, I will try to get in contact with some contractors to see how they do it at a fast and professional level. Thank you for your time and advice.
@Eduardo Villalpando My advice would be to learn everything you can and save up money. Hang out in the forums. What I’m currently doing is listening to all of the BP podcasts. There is a lot of great information there. Also find ways to build your credit. It’s harder to do at 16 but if you can say save up for a car and use that cash as collateral against a loan it’ll help build you credit score with very little risk.
Eduardo you can absolutely learn as much as you can, and perhaps even tag along with some contractors to jobsites and help where needed so you can see how remodels work, or HVAC units get installed and their associated costs. Unfortunately besides saving, there's nothing financially you can do at the moment besides maybe getting added as an authorized user on a parents credit card. You are too young to sign any contracts for sale of property, including car loans I'm afraid. So keep saving and learning!
Congrats to you for your ambition! I work with a bunch of young aspiring real estate investors just like you (in a free online group), and I am willing to help you out with some advice or even chat on the phone if you wish. But I first recommend you read this article I wrote for Bigger Pockets titled How to Invest in Real Estate Before Turning 21. Once you've read it, let me know your thoughts and if you have any questions. I am a high school teacher in Colorado and I am always looking to help young people get started in real estate investing or help in any way I can. Let me know if you want to chat sometime. https://www.biggerpockets.com/
@Robert D Wade III thank you for the info, I’ll keep it in mind I really do appreciate it. And I will keep on listening to the BP podcast since they contain so much information. Again thank you for your time.
@Doug Pintarch thank you for the advice. I do have lots of experience on how remodels work since My dad used to flip houses, and we used to work on them all the time. But I will keep that in mind, I will try to get in contact with some contractors to see how they do it at a fast and professional level. Thank you for your time and advice.
@Dan Sheeks thank you so much I greatly appreciate your help and will definitely read the article you wrote. I’ll keep in touch with you and would definitely like to join the group of young RE investors that you are mentoring/teaching. This is just what I need because I do have lots of questions already. Again thank you for your time and help!!