BiggerPockets

It would be possible!

I'm not sure buy/hold would the best strategy to use for your first deal.. You might want to consider strategies that will allow you to build up capital with little or no money... for example bird dogging for another investor, wholesale, Sub2, L/O.

and then move to the next step with a buy/hold property.... Great idea to get started while your young. I'm sure most of us on this board wished we got started when we were that young

Hi Patrick,

I second what Nick said. Buy and hold is not a good idea if you do not have any cash reserves. What happens if you have a vacancy or unexpected repair? How would you cover those costs?

I started off buying rentals (well, it was only one, actually), when I had zero cash reserves, and it was a NIGHTMARE. I ended up getting lucky and selling it at the top of the market for a profit, but I would never advise anyone to buy something to hold if they don't have some cash in the bank.

Bird dogging is referring deals to other investors for a fee. Great way to get started.

Good luck,
Steph

If you have the money, you can buy most anything. 18 is a perfectly legal age. How much do you have to put down and what are you looking for?

Patrick, I can tell your an excited young man. Maybe staying up a little to late watching those "buy a house for 300$" infomercials.

1st bird dogging isn't illegal...............in some states it's illegal to take a commission if your not licensed. But there is nothing 'illegal about getting paid for selling 'information'

2nd don't get carried away about becoming a realtor....You'll get brainwashed that anything outside of listing and showing houses is illegal.

You can however later on choose to get your real estate license to add as an additional tool to your investing go-go gadget belt....but I would wait for now.

for starters take that 300$ investment your mother is going to hand over and go and buy a nice pair of slacks, shoe's and a long sleeve shirt. Maybe 2 pairs if you shop at walmart ( I love wally world )

go to a local investors meeting and introduce yourself to some investors and tell them your interested in bird dogging for them, ask them what their looking for etc. etc....

refer a deal or 2, make a buck and continue to educate yourself in the mean time.

I know that was pretty generalized, but I hope it helps somewhat

ps, wear your nice clothes whenever your meeting an investor, realtor, homeowner or anyone else face to face that your talking to real estate about. I work out of my house but I almost always wear nice clothes incase I need to run out quickly I'm ready to go at a moments notice.

Nick,

So bird dogging is when you sell other investors information on houses for sale? I thought you got paid when they close on a deal.

I'm going to a seminar for the real estate license next Wednesday, so I'll find out more about that.

I'm probably going to attend my first REI meeting this month. I can't wait for that.

Patrick, read between the lines. Real estate investing has a lot of 'gray area' What I'm saying is in most cases it's illegal to accept a commission without being a licensed professional.

if you over complicate the thinking from the beginning you'll talk or think yourself out of deals out of habit later on.

I'm not sure I can simplify my previous post, but if your still overthinking it, I can try to paint a picture for you.

Also don't be so anxious about getting your reale estate license!!!
you can really get yourself in a lot of trouble being a licensed professional while investing especially since your so new and have no clue whats going on.
You'll forget to disclose your licensed, make a mistake and then get in a lot of trouble because your a 'licensed professional'