All Forum Posts by: Michael Kantar

@Orlando De Los Santos sounds great, thank you for all of the help!

@Dylan Barnard thank you for your help, I greatly appreciate it! I have a quick question since you wouldn’t recommend an ira, what would you recommend I use to keep my money in then? Would you recommend a high yielding savings account? Just in general, what would you recommend I take as my path then?

@Orlando De Los Santos

Thank you for the help Orlando! Are there any investments that you suggest I make in a shorter term because of the fact that it would be so long for me to take the money out in an IRA?

Hi my name is Michael and I'm 16 years old and am currently looking to build some capital (20k+) to invest later on in real estate. I'm not sure if I should invest in something else in the meantime and hold it (stocks, cryptocurrencies, mutual funds, flipping items for profit, etc.), just save money (savings account, Roth/Traditional IRA, etc.), or just do a mixture of both.

I am currently working as a lifeguard over the summer and am making a decent amount of money which I hope could help with allocating my money in different areas. I am really just looking for the best way for me to build money and find some ways for long term growth (>10 years) and some to take out when I’d like to invest shorter term(~5 years). All suggestions are welcome as I am looking for a way to save some money as well as have some diversified investments.

I am also working on building a credit history by having my first credit card set up as an authorized user on my parents credit card account. If there’s ant other suggestions you guys have for credit building at my age as well please let me know!

If there’s anything you need for me to clear up as well let me know and I will try and clarify by editing/updating this post if it’s possible. Anyways, I would like to thank everyone in advance for the help!

Thanks Juan Reyes

Juan Reyes What degree/s do you recommend I get and at what level?

Good point Bart Hedgcock and David Faulkner

Bart Hedgcock do you think it is necessary to go to college because some people say that it's a waste because there aren't many classes on real estate and also you will learn things other people can teach you, so ultimately you will just be going in debt? But what is your stance on this?

Andrew Johnson Bart Hedgcock Steve Kontos Joseph Salegna

Thanks for the advice everyone. I just have one more question/statement, so if I where to go get my real estate license in New York, become a real estate agent learn about different strategies from people I meet and also learn things on my own too. Would that be a good idea to then become a real estate agent for a couple of years, then go into real estate investing out of state later on when I understand real estate more and also have more money in my pocket? (Also by the way I'm 18 just graduated from high school)