All Forum Posts by: Dan Sheeks

Hey Alejandro. I recently wrote an article for the Bigger Pockets blog

that you may want to read. It's aimed at teenagers and what they should

do in order to start investing in real estate thru a house hack. https://www.biggerpockets.com/blog/how-to-invest-in-real-estate-before-turning-21

Hey Jalen. I recently wrote an article for the Bigger Pockets blog that you may want to read. It's aimed at teenagers and what they should do in order to start investing in real estate thru a house hack. Check it out. https://www.biggerpockets.com/...

Hey Garry. I recently wrote an article for the Bigger Pockets blog that you may want your daughter to read. It's aimed at a teenage and what they should do in order to start investing in real estate thru a house hack. Check it out. https://www.biggerpockets.com/...

Hey Garry. My answer would be a big fat YES! But to set the situation up for success, I would have your daughter read Craig Curelop's book "The House Hacking Strategy". Also, make sure she's up for the responsibility. Explain to her the benefits and the work involved if she is going manage the house herself (which I recommend). It would basically be her part-time job while in college to help pay her way, plus your children would save tons of money (or you will save tons) by having the tenants pay the mortgage for her/you. Also, make sure the numbers work on the house you buy. Great idea!

Let's say two people own an apartment complex. They own it free and clear and 50/50. Can one owner sell his half of the property/investment using seller financing? 

Hey Jalen.  Kudos to you for trying to get started in real estate so young!  Pretty much everyone on BP wishes they would have started at age 19.  As for getting a loan.  Pretty much any bank is going to want to see 2 years of income from a W2-type job.  They won't give you money unless they know you can make the payments.  The other two things they look for are a good credit score and sufficient down payment.  You seem to be good on those two.

At 19, you do have another option.  You could have a parent co-sign on the loan.  That would probably be the easiest solution.  You can always contact a lender and ask them your questions.  In my experience, lenders are always happy to talk to a potential client.  If you have no lender in mind, start with the bank where you have your checking/savings accounts.

Hard money lenders may be an option.  I'm not experienced with that avenue so I will defer giving advice on that route to others.

Whatever you find out, keep on working towards getting your first property!  Don't let roadblocks stop or deter you!  Best of luck!

Is it possible to invest money from capital gains from the sale of a real estate investment property into a 401K to defer the tax on those capital gains?

Great stuff!  Nice work, @Gary Crawford

@Bryan Barnette   Did you ever find a good PM?

Hey Matt!  Great to see you on BP!  Hope you're well!