17 YEAR OLD INVESTOR NEEDS HELP
Hello! My name is Tega Hamlin, I’m 17 years old and I am wondering what would be the best use of my time right now to learn more about real estate? Pretty soon my dad and I are going to buy a rental property so I want to absorb as much information as possible. I’m listening to David Greene’s podcasts and reading “How To Invest In Real Estate” by Joshua Dorkin and Brandon Turner.
What kind of jobs can I do during the summer at my age to really be fully invested (see what I did there lol) in real estate and learn as much as possible. Anything you guys have, let me know!
I would learn the market that you plan on investing in and then start driving around looking for distressed properties while listening to the podcasts and learning. Reading books gives you a decent amount of basic knowledge but in my opinion, taking action towards your goals is the most important part and will actually teach you much more than any book.
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#3 BRRRR - Buy, Rehab, Rent, Refinance, Repeat Contributor
- Columbus, OH
Hey Tega,
There are many ways to pickup income at 17. You could find a creative side hustle monetizing a passion/strength of yours, or just pick up a traditional summer job. If you're specifically looking for real estate experience, you could show up at a brokerage and see if there's any way to help them out and learn (mentorship).
#1 Innovative Strategies Contributor
- Austin, TX
Do what your Father tells you to do, without complaining.
If he wants you to get up at 6:30 am and go with him to paint walls--just do it like a soldier--even if breakfast has to be missed.
In other words, even if you are tired and having a bad day...do what you are assigned to do--and get it done--on time--on budget--in a workmanlike (not kid) manner (without complaining).
Show your Father you are man enough to handle things like a man--without quarreling with him, or dragging your feet.
Learn to do that, and you guys will be a formidable team--and your Mother will be impressed.
Good Luck!
Quote from @Tega Hamlin:
Welcome to the BiggerPockets forums!
I would rely on your dad's life experience but also look for weaknesses that you can fill. For example, maybe he's really good at the maintenance stuff but has no idea how to deal with renters. You can learn that aspect of the business to make your team stronger.
Tega: I wonder how many 17 year olds want to learn real estate! You are already ahead of the curve. There are over 80 ways to make money in real estate, but some are harder (or a lot harder). I would learn what I do (hard money loans). It is fairly easy to learn (and costs virtually nothing). When you learn the numbers of loans, you already have learned somewhat the "languages" of wholesaling, flips, and rentals. You will certainly know the numbers of a good deal, and you are learning from your loan client's plans on being profitable.
Quote from @Jonathan Aversano:
Hey Tega,
There are many ways to pickup income at 17. You could find a creative side hustle monetizing a passion/strength of yours, or just pick up a traditional summer job. If you're specifically looking for real estate experience, you could show up at a brokerage and see if there's any way to help them out and learn (mentorship).
Thank you so much! I'll definitely ask some brokerages!
Quote from @Scott Mac:Thank you! I'm not a stranger to hard for and determination. My dad has instilled in me those qualities. Thanks for the advice!
Do what your Father tells you to do, without complaining.
If he wants you to get up at 6:30 am and go with him to paint walls--just do it like a soldier--even if breakfast has to be missed.
In other words, even if you are tired and having a bad day...do what you are assigned to do--and get it done--on time--on budget--in a workmanlike (not kid) manner (without complaining).
Show your Father you are man enough to handle things like a man--without quarreling with him, or dragging your feet.
Learn to do that, and you guys will be a formidable team--and your Mother will be impressed.
Good Luck!
Quote from @Taylor Dasch:
I would learn the market that you plan on investing in and then start driving around looking for distressed properties while listening to the podcasts and learning. Reading books gives you a decent amount of basic knowledge but in my opinion, taking action towards your goals is the most important part and will teach you much more than any book.
Thank you! Seems like we’ll start looking deeper at properties here in the next couple of months. Looking forward to making mistakes! Only make you stronger.
Quote from @Farley Youman:
Tega: I wonder how many 17 year olds want to learn real estate! You are already ahead of the curve. There are over 80 ways to make money in real estate, but some are harder (or a lot harder). I would learn what I do (hard money loans). It is fairly easy to learn (and costs virtually nothing). When you learn the numbers of loans, you already have learned somewhat the "languages" of wholesaling, flips, and rentals. You will certainly know the numbers of a good deal, and you are learning from your loan client's plansfor being profitable.
I will look into it! Do you have any resources where I can learn more?
Quote from @Nathan Gesner:Thanks so much! I’m trying to learn all the general things right now. Hopefully soon ill be able to recognize those differences and help in any way I can.
Quote from @Tega Hamlin:
Welcome to the BiggerPockets forums!
I would rely on your dad's life experience but also look for weaknesses that you can fill. For example, maybe he's really good at the maintenance stuff but has no idea how to deal with renters. You can learn that aspect of the business to make your team stronger.
Congrats on starting this process at 17 @Tega Hamlin!
If I was giving my "17" year old self advice it would be this...
1). Become a master at sales and marketing. Once you do this you can learn the fundementals of making money in any business. Some of the best training for this is door to door sales. It is like the navy seals of sales training and will provide so much in the form of relationship building.
2). Become a master at finance. You can't really learn how to make money at a high level until you master finance because the finances are the perverbial dashboard that tells you how you are doing and what you need to focus on. Very few people understand this which is why so many people fail in business / investing.
3). Have discipline and create a routine. I suggest reading the book The Miracle Morning as it will explain this in depth. This will allow you to create a life by design.
Cheers to all of your future success!
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