Can teens make money form real estate

Question

Is it possible for a 16-year kid to legally make money from real estate, I have asked a few people about this topic but have never gotten a clear answer, looking for one on bigger pockets.

Bud Gaffney · Answer

Learn as much as you can + be patient. LEARN LEARN LEARN. And you'll still be 1 of 1 and WAY ahead of the game, even in 10 years if you have no properties :)

Bud Gaffney · Answer

The fact that you're already thinking this way at 16 years old is IMPRESSIVE! I look forward to hearing of your success!

Nathan Gesner · Answer

You can, but it's not easy. You can't sign contracts, so you won't be able to purchase property, wholesale, flip, etc. You could be a bloodhound for another investor. Help them find deals and get a cut. That's a great way to learn how to research deals.

Start going to real estate investor meetups and get to know people. If you're worth the trouble, someone will invest some time and find a place for you.

Maksu Ize · Answer

You have higher odds of losing money, than making money.

Bigger pockets is full of "success stories" that leave out all the fine print, details, and losses.

Then there's all the "failed stories" that never get posted.

With all of that said, if you can do enough research, do the math, get the funds, and take the risks involved, you can for sure make money at your age.

Just remember there's thousands of people out there, trying to do exactly what you are doing, except they have 5, 10, 20, 30 years of experience doing so. You need to be one step higher than all of these people to make that cash money.

Adam Bartling · Answer

No requirements or prerequisites:

raising capital, wholesaling, purchasing property, rehab work

Jason Wray · Answer

Yes,

Reach out and talk to a few top agents or broker owners and ask if you can help them do any marketing or call leads to set up appointments.  They can have you doing a lot of different things to help them out with reaching buyers or with office work.  This can also benefit you by helping you shadow and learn from a top agent or broker owner to learn the business.

When you turn 18 you can then go out and get your license and have experience under your belt!