17 Years Old and Want to Start Flipping

17 Years Old and Want to Start Flipping

New to Real Estate · Orlando, FL · Member since 2016 · 4 posts · 1 vote

Hi Everyone,

My name is Connor and I am currently a high school senior. My intended major in college is real estate/ finance, and in the future I plan to grow my success in real estate. Real estate has always interested me due to the fact that unlike investing in stocks, real estate is something you can actually see, change, and physically watch grow. I am 100% a beginner right now and really do not know much about the field. I am starting to read some books to learn the basics because I really want to get a head start before college; however, my main goal is to flip at least one house before I go to college. I want to stand out from others in the field and start young, giving me that extra edge and higher possibility of success.

My post today is asking for some advice, tips, and game plans of how to achieve my goal. I understand I need to get to know some of the basics of house flipping, but I want to know more of the process of flipping a home. The plan is to buy some foreclosed home up for auction, but are their other options? I am looking for what it takes and how to have a successful flip. Also, I want to know more about getting the money to even purchase a home to flip since I am only 17. I do not have much saved, but my father is willing to help out some. Still, I do not know how to acquire a $100,000+ at only 17 years old to buy a house and renovate it for a flip. At the moment, obtaining the actual house is my concern and is where my confusion is. Much of the websites or videos online apply more to older people with a healthy salary. If anyone is willing to lay out the process and clear some things based on how a 17 year old could flip his own house, it would be greatly appreciated. Please get back to me with any advice you have!

Thank You,

Connor 

0Reply
32 views

3 Replies

Jump to latestLatest
  • Patti RobertsonBusiness Member
    Property Manager · Virginia Beach, VA · Member since 2016 · 2k+ posts · 2k+ votes
    9y

    At 17, you aren't old enough to be legally bound to a contract, so you will need your dad's assistance.  There are SO may options for you.  I'd suggest the first thing you do is find the local real estate clubs in your market and attend their meetings.  They will be able to bring you wholesale deals that are better than foreclosures.  They will also be able to share with you sources of money.  Find the rehabbers and ask if you can shadow them on a project.  You can do this!!!!!  

  • Ormond Beach , FL · Member since 2015 · 345 posts · 223 votes
    9y

    Your first hurdle (and biggest one for most people), is finding the money. You will be up against people with large sums of cash that will be watching the same market as you are. You need to connect with local REI groups and make some connections there and hang out with some of those people. What you do have is TIME....you are 17, so even if you can't pull the trigger right now, the market moves up and down in cycles.....the next downturn, have money saved or lined up and be ready to jump in! Use this time to study and watch and learn. You have the desire, just add a little patience. If you do have access to enough money, be aware that buying the house is the easy part. Renovating it (and the financing of that) is the make or break.....everything is more expensive than you think it will be!

Join the conversationCreate a free account to reply, vote on answers and follow this thread.