Flipping houses at 18 looking to grow business

[Shiyear Woodbury]

Hey im 18 and my name is Shiyear Woodbury. I'm from Grovetown,GA just graduated and I'm looking to have successful career in real estate investing but I need help. I found nice property for 17,500 that's forclosed but my parents are nervous as to if I should get loan at this age but I'm ready and I feel as though this property can sale and feel like there holding my dreams up. The comps run for 65-85 thousand so this could be home run. I need experience and need to change parents mind so need help.

[Brian Himes]

   Had the same problem once. First Make sure the house is a good deal in a good area. Needs to be a safe place where they would be comfortable with you living (even though that’s not the plan). Also how much work does the house need? Big things to look for is roof, Plumbing, Electrical and foundation these can turn a 17500 house into a 60K house. Maybe find a friend in construction to tour the house with you and give their opinion. You definitely need a second opinion as both you and your parents will be biased. You will want to do a deal, and they wont want you to.

   When I was buying the house i now live in after moving out of my parents house I had the same problem. I told everyone I was going to move into it although I was fully committed to making it a rental. Maybe tell everyone that if all else fails you will live there, this might make them feel better about it.

   Finally and most you said the house is in Foreclosure at 17,500 maybe you can get it less. Try a low ball offer and see what they counter with. I got my investment house for 15K when they were asking 21K for it. Hope it works out for you.