I'm 17 years old. I know that I want to have real estate assets as soon as possible. I want to have as little debt as possible while going through college, and I want that to be due to investing. I believe that my problem now is that I have no credit. Pretty sure I have to be at least 18 to apply for a credit card. So I'm just here asking for advice on how to get started as quickly as possible, in the best, most secure way possible.
A few (10) years ago I faced the same problem. I had a checking account so I started with a signature loan through that institution for $500 over six months. I put that into savings, and then paid the loan back out of savings with an automatic payment. Once that was paid off, I waited a few months and took out a 4k loan over a year I think. Signature loan as well. Just doing those two small loans established credit for me and got the ball rolling. I was approved for my first home loan TODAY, and my credit scores played a large roll in that approval. Best of luck!
Free eBook from BiggerPockets!
Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!
- Actionable advice for getting started,
- Discover the 10 Most Lucrative Real Estate Niches,
- Learn how to get started with or without money,
- Explore Real-Life Strategies for Building Wealth,
- And a LOT more.
Sign up below to download the eBook for FREE today!
We hate spam just as much as you
You must be a BiggerPockets member to post on the forums
Join the world's largest, most open Real Estate Investing Community online, 100% free forever!