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Updated over 3 years ago on . Most recent reply
Wholesaling as a 17 year old
I've been listening to the BiggerPockets podcast for a few months, I checked this morning and I've literally listened to over 150 of them now. I've completed a state real estate agent course and have read enough books to confidently say I get the gist of real estate. After sitting on the sidelines working to find resources for cash buyers, motivated sellers, how to advertise, how to build rapport, etc, I have decided I want to begin building capital wholesaling before jumping into rental properties.
As a 17 year old in Indiana, I have no capability to do so... on my own. I am currently trying to consult an attorney who practices real estate and business law to help guide me in the right direction in order to do this. An idea I'm having is maybe forming a partnership with my brother, who is a legal adult, and he could sign purchase & sale agreements under my LLC's behalf as well as contract assignments, but I simply am not educated in that area enough to know what exactly I can do. My brother has no real idea about wholesaling, or real estate as a whole, and I'm scared that I will have to split hard-earned money with someone just for signing a paper, but if that's really what I'll have to do I'll do it.
So I am new to the BP forums, show me how great you guys really are! Any and all help/guidance will be considered and appreciated! (:
As a 17 year old in Indiana, I have no capability to do so... on my own. I am currently trying to consult an attorney who practices real estate and business law to help guide me in the right direction in order to do this. An idea I'm having is maybe forming a partnership with my brother, who is a legal adult, and he could sign purchase & sale agreements under my LLC's behalf as well as contract assignments, but I simply am not educated in that area enough to know what exactly I can do. My brother has no real idea about wholesaling, or real estate as a whole, and I'm scared that I will have to split hard-earned money with someone just for signing a paper, but if that's really what I'll have to do I'll do it.
So I am new to the BP forums, show me how great you guys really are! Any and all help/guidance will be considered and appreciated! (:
Most Popular Reply
![Gloria N Gear's profile image](https://bpimg.biggerpockets.com/no_overlay/uploads/social_user/user_avatar/1243475/1621510603-avatar-gloriangear.jpg?twic=v1/output=image/crop=408x408@102x0/cover=128x128&v=2)
My advise to you is to take one more year to save your money and learn.
AND there is a big difference between Book/Podcast Learning and Practical "in the field" Learning in this business. There are several big wholesaling businesses in Indianapolis that have been doing this for 15-20 years. Find them and ask them if they would like an intern.
I personally just hired a college kid because he came to me to ask about investing and I was so impressed with his knowledge, I hired him to do some projects for me.
Be learning based and offer to help others and they will give you a leg up to make you more successful.
- Gloria N Gear