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All Forum Posts by: Keaton Walkowiak

Keaton Walkowiak has started 3 posts and replied 12 times.

Post: Vacation Rental in Port Aransas, Texas

Keaton WalkowiakPosted
  • New to Real Estate
  • Minnesota
  • Posts 12
  • Votes 8

My family is looking to buy their first vacation rental down in Port Aransas, Texas! I am looking to get any help finding good agents and property managers who are willing to do a long distance relationship, because we are based out of Minnesota. I will also gladly accept insight on certain people or companies who have not been so great to work with. You can either respond to my forum or reach out to me personally, thank you all!  

Post: If you could go back, what would you start with?

Keaton WalkowiakPosted
  • New to Real Estate
  • Minnesota
  • Posts 12
  • Votes 8
Quote from @Patrick Snyder:

@Keaton Walkowiak

Congrats on beginning so young...it'll definitely pay off. You'll bet lots of great advice and direction on here, but my 2 cents is this: always remember that nobody will ever treat your property like you will. This goes for everything in life, but specific to real estate since others are always in, or have access, whether it's tenants, agents, contractors, etc. There will come a time when someone proves this point, so better to be prepared. I certainly wish I knew it when I first began, but we live and learn.

Good luck out there


 That is so true Patrick, I'll move forward knowing that people will not have the same amount of respect for my properties. I haven't thought about that much so thank you! 

I appreciate the support 

Post: If you could go back, what would you start with?

Keaton WalkowiakPosted
  • New to Real Estate
  • Minnesota
  • Posts 12
  • Votes 8

Good morning, afternoon, evening to everyone. My name is Keaton Walkowiak and I am 17 years old and looking to become an investor and agent myself. I have had some good discussions with a variety of agents ranging from very successful and who have been in real estate for a while, and I have also had conversations with people who haven't been as fortunate or people who are still in their first year or two. The best takeaway I have so far is to use my age as an advantage because you can never get more time. Moving forward...

I have some fun questions for anyone willing to answer:

If you could go back and restart your journey what would you do different? 

What advice would you give your past self about real estate/investing? 

What characteristics and skills do you see your best coworkers, agents, clients and competitors having and using? 

Thank you for taking the time to read this and respond,

Keaton Walkowiak 

Post: Being approved for a loan

Keaton WalkowiakPosted
  • New to Real Estate
  • Minnesota
  • Posts 12
  • Votes 8
Quote from @Dave Skow:

1) yes - you can  build  credit as a 17 yr old ...get a  basic card from the bank where you have  accounts  ....consider getting some small  dept  store  type  accounts  (  target /  kohls  etc)  ...use them  for  small amounts and  make sure to pay them off  within  30 days ...2) if this  technique  doesn't  work for you - the  authorized user strategy is  an option  

3) make sure you  are aware of the  down payment  requirements for  multifamily....down payment  requirements are  normally higher for  a  3 and 4 plex  as  compared to a  duplex 


 Dave thank you for the additional knowledge! I appreciate it and am currently in the middle of this process, your information was superb and very helpful! Thanks for taking the time to help out!

Post: Being approved for a loan

Keaton WalkowiakPosted
  • New to Real Estate
  • Minnesota
  • Posts 12
  • Votes 8
Quote from @James Hamling:

my best advice is keep it simple. Your going to find complexity is the killer of dreams, far too often people grossly waste time and energy making things wildly complex when simplicity best empowers ACTION, and action get's results, not complexity. 

Get yourself a credit card. If you can't get one on credit, get a secured credit card which you can do with as little as $100 in many cases. Than, exercise supreme discipline. use that card for a specific category, like all fuel purchase. Pay on it, in full, every week. Get in that habit of ignoring the monthly BS, the monthly game is designed to maximize fee's, look it up. Train yourself to be a 2%'er and that means doing things differently, almost always opposite of the masses of sheeple. Pick 1 day of the week to be your finance day, make it a habit and ritual. 

Next, if your really serious, go get a job working in real estate. At start don't focus on the end, just focus on getting IN. For example, my brokerage hires people at base level for what equates to a runner position, entry level, just getting lockboxes, looking at properties etc. It gets income going, puts into the environment of all kinds of deals and stuff going on, and where a person goes from there is limitless. Just get in somewhere that you can start observing, asking questions, learning, absorbing, all while getting $, this starts that W2 income. 

And lastly, make sure where you work is conducive to getting your R.E. license, or similar, and starting PT DOING deals, in whatever factory or function, without sacrificing your FT income. Fact is that SOOOOoooo many don't speak of is, the failure rate in Real Estate is arguably the highest of ANY industry, easily around 90%, no joke. I have seen so many run in, to hit that wall of reality, to then just give up and run away feeling destroyed. 

Get in, make it your actual occupation to earn and learn. Opportunities will come that otherwise wouldn't, you will be able to network, build a reputation, these things matter a lot. Be smart on how you do things, methodical. 

And know this, there will be sacrifices to be made. Influences will try to drag you away to make lessor choices that will seem a lot more fun because they ARE, in the immediacy, what your doing is CHOOSING to make make the exchange, short term pain for long term gain. It's a life choice, there is consequences, positive and negative. At 20, people will mock you. At 22, friends will tease you. At 28, EVERYONE will envy you. At 35, EVERYONE will wish they were you!

Thank you for taking the time to make that response. I can tell how passionate you are just by the advice you gave. I agree with it all, especially that it really is a simple thing, and to not over complicate it. I will hold your advice near to my heart and keep it in my head moving forward. It is nice knowing people are willing to give a young buck like me some good advice. 

Thank you again,

Keaton Walkowiak 

Post: Being approved for a loan

Keaton WalkowiakPosted
  • New to Real Estate
  • Minnesota
  • Posts 12
  • Votes 8
Quote from @Steven Foster Wilson:
Quote from :

Hi! I am a 17 year old named Keaton and I have been learning about the real estate world for almost a year now, and I am nearing the stages of buying my first multifamily home. I am looking to buy a rental once I am 18.

 I have been asking around from bankers, agents, to my parents about how to get approved for a loan assuming I wait till I am 18 to buy. I have understood that I need a good credit score, and 2 years of w-2 paychecks to prove I'm making income. I do not have a credit card yet and I am looking for answers to a few questions... 

As a 17 year old am I able to start building credit? If so, how?

I have been told that I can have my name put on my parents card as an authorized user and then that would start building me credit, is this true? 

Any insight is appreciated immensely!

Thank you for your time,

Keaton Walkowiak

Hi Keaton,
I love your ambition and passion for real estate. The best student is one who is always willing to learn.
My wife’s parents put her on their credit card when she was 16 years old. It helped build her credit tremendously. Without that we would not have been able to start our real estate business. If I were you I would reach out to other lenders and ask questions. It never hurts to ask and there is no such thing as a stupid question. One of the best lenders I know in my area of town (Columbus, Ohio) is @Chris Wharton. He is always so eager to help and is willing to find the answer to any of my questions even if he may not know it right then in there. 


 Chris, I really appreciate the advice and insight. I have been working on this process this week and am nearing the end stages finally. Thank you to the moon and back! Good luck with your business! 

Post: Being approved for a loan

Keaton WalkowiakPosted
  • New to Real Estate
  • Minnesota
  • Posts 12
  • Votes 8
Quote from @Kurt Pauley:

@Keaton Walkowiak

You got a ton of good advice here. I would make sure to connect with a great lender. They will tell you exactly what you need to do. You could also potentially use your parents as a co-signer on the loan if they are willing. 

Credit card for sure. Become an authorized user on parents account. 

Use FHA or low money down loan to house hack.

Location is everything. 

Not sure where you're based but if you need any advice on locations in the twin cities let me know. 


 Thank you Kurt! I am based up in Brainerd, but for the right property am willing to go really within 1-2 hours away. It will be helpful to have you as a contact, thank you! 

Post: Being approved for a loan

Keaton WalkowiakPosted
  • New to Real Estate
  • Minnesota
  • Posts 12
  • Votes 8
Quote from @Justin Bauer:

What a great post Keaton Walkowiak. Its a  process making a great credit profile and you are asking the right questions. One of the easiest is just a simple ready reserve on your checking account. You can be my guest at the MN REALESTATE Exchanges meeting anytime.  https://mree1031.com/about.php


 Thank you Justin, I will do my research into a ready reserve on my checking account! I would love to exchange a meeting sometime, I will reach out to you when I am ready! 

Thank you again,

Keaton Walkowiak 

Post: Being approved for a loan

Keaton WalkowiakPosted
  • New to Real Estate
  • Minnesota
  • Posts 12
  • Votes 8
Quote from @Forrest Williams:

Good to hear you're starting out early, time is the best asset you have right now. Bezos may have billions of dollars, but no amount of money can buy another second of time. Here's how to get the best start you can.

Open a credit card to pay off every month. Lots of people open one and think, "sweet, here's $5,000." That's not what it's for. Don't use it to buy a new car or top of the line computer. Use it for normal purchases, and pay it off every month. Mine has automatic payments so I don't even have to think about it.

Get a job with a solid W-2. Banks will want two years of paychecks, so try to get a job that isn't tip based. If you wait tables, they want a lot more documentation about your income.

Learn to fix things around your parent's house. Youtube how to patch drywall, replace sinks, painting techniques, anything that will help make a house better once you're in it. The list of things that can go wrong in a house is long, but if you know a little drywall, carpentry, plumbing, and electrical, you can go a long way.

Learn your market. If you're around the twin cities, there are some good areas, bad areas, and up and coming areas (true for all towns really). Learn where you want to be and where you want to avoid. You can change lots of things about a house, you can't change anything about a neighborhood. Try to get the worst house on the best block.

House hack your first house. Buy something run down and ugly, get a couple of friends or roommates and let out the rooms to them while you fix it. Report that income, not only is it the law but it can help establish your income with the banks when you go for your next loan. This is where your repair skills come in too. If you can get a multifamily that's awesome, but those can be more expensive. But rent out every room you can for as long as you can. As soon as you start living alone, you won't want to go back to roommates.

Good luck in your journey! I've got several friends who live in Minnesota and love it there. Feel free to reach out if you want more info too.


 Forrest I truly appreciate the feedback! It was thorough and excellent, it was just what I was looking for! Thank you so much, and I will definitely reach out to you in the future! 

Post: Being approved for a loan

Keaton WalkowiakPosted
  • New to Real Estate
  • Minnesota
  • Posts 12
  • Votes 8
Quote from @Mackenzie Grate:

This is absolutely true. I got a credit card with my dad when I was 16 and that helped me tremendously to build credit. With that being said, make sure whatever you do, that you pay it on time and don't wrack it up. They want to see you are consistent and reliable when it comes to paying stuff back. Some say to charge something and pay it off over 2-3 months regularly. Some say to pay it off each month. I recommend you ask the company when you open the card. 

Also, only open one card. Each time you open a new line of credit, your score takes a slight hit. Try to get as much credit on that line as possible too because that shows lenders you have access to money should you get in a pinch. Don't charge it up, but have it available.

Additionally when you go to get a loan they are going to be looking at debt to income ratio. It may be tempting now to work under the counter to save some money, but that could backfire.  Try to get as much taxable income as possible so you can show that you are an income earner and that you have a history of making at least a certain amount. You probably will still fall in a lower tax bracket, especially if you are in school and only working part time.

Hope this helps a bit. Super awesome you are starting to think about this now and prepare. I'm totally rooting for you! Good luck!


 Mackenzie I really appreciate the feedback it is super helpful and was the information I was looking for!