All Forum Posts by: Dasha Taylor

@Dasha Taylor

Your forward thinking and consideration of real estate investing at such a young age is commendable! When you reach the age of 19, it's important to have a reliable source of income, be able to provide a down payment of around 15% to 20%, and maintain a good credit score and debt-to-income ratio in order to be eligible for a mortgage loan. Most lenders will want to see at least 2 years of steady income, and income from part-time work or your own business can help to strengthen your financial background. It's also helpful to have pay stubs and a W-2 form on hand to bolster your mortgage application. A larger down payment can lower the risk for lenders and make up for any limitations in your income. Don't forget to save up for closing costs, property taxes, insurance, and any potential repairs that may be needed.

Start by connecting with nearby lenders or mortgage brokers to evaluate your financial preparedness and investigate loan possibilities. Seek advice from a financial expert or real estate specialist to enhance your comprehension of the real estate industry and funding alternatives. Prior to your nineteenth birthday, make sure to carefully plan and conduct research on potential properties, market developments, as well as the legal and financial aspects related to real estate deals. Take the time to explore various house hacking techniques and select the one that best fits your objectives and available resources.

Good luck!

Good for you getting after it!

For sure @Dasha Taylor!  If you are even thinking about getting your real estate license at the age of 16 - there is no you shouldn't get it!  

Of course it's hard to getting started....that is the case with anything!  But the sooner you get practice/experience the easier EVERYTHING in life gets!

 Start now and you are going to be TOTALLY fine!  Come up to Chicago I am happy to work with you!

Congratulations on.your goals and ambition 

I  wouldn't shadow one of the top agents in your office. 

He/She will teach you  more  than 20 books and 10 seminars on Real estate. 

Go with he/ she to.show houses, filling out the offer, and making all the procedures to closing .

Get your hands wet ,  experience

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Agreed with @Dan Sheeks, also Bigger Pocket's book Every Real Estate Agent's Guide to Building a Profitable Business is extremely helpful, and I recommend it to anyone starting out. Best of luck :)

If you are passionate about it, do it.  You can actually start studying before you are 18 so that you are ready to take and pass the test soon after you have your birthday.

My guess is that at 18 it will not be easy, but don't let that stop you.  I'm not always a fan of going to work on a team, but that might help you get started.  You can show homes, prepare them for listing, and work the phones where no one will know you are 18.  Be an inside sales agent.  Also you might learn to work leases, where people probably care less about your age.  When you have a year or two of experience, then you have proven success to go out on your own.

My guess is your biggest challenge will be to convince older people that you are an expert and that they should use you as their expert.  Some people will not care.  Focus on those and keep after the ones that think age matters.

I wish I would have started when I was 18.

Hi Dasha,

Great to see someone so young in this space! The best thing you could do right now is to get experience, so working under a real estate agent would be a great start. There's a lot of things you can help out on without a license.

Getting started brand new is definitely not easy, but time is on your side if you stay consistent!

My advice would be to read the Bigger Pockets’ book First to a Million (and the workbook). It’s written for young aspiring investors just like you.