Best way to invest 11k?

4 Replies

I'm senior in high school and have a little over $11,00 in my bank account. Id love to get into the real estate business as young as I can! Any suggestions on how I could start? Thanks

Hi There,

First, good for you for thinking about your future at such a young age.  When it comes to investing you need to consider your short term and long term goals.  First, do you see a reasonable need to access that money in the next year, 5 years, 10 years?  The answer to the question will greatly affect the answer to your question.  Also, as a senior in highschool, I am assuming you have no credit.  Do you have any experience with real estate?  And what are your short and long term goals for investing.  What does "investing in real estate" mean to you?

Just my opinion, and I know others will vary, but if I was your age, and I knew I wanted to get into real estate-

I would go to real estate school at a local place (community colleges are usually well priced) and simultaneously seek someone accredited as a mentor in investing.  This allows you to not spend too much money on school if you apply for grants, etc. and starts building that much needed experience AND you can start getting paid at a local agency while doing what you enjoy.  Above all, it allows you to network.  Just my opinion, and we will see who backs me up on this.

Honestly, I wish someone had told me all this when I was younger...

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Definitely start by looking for local real estate investing groups in the area.  If they aren't having meetings offer to set them up.  If there isn't a group, start putting one together.  The most valuable resource you can have in real estate is a solid network.  This is true in many industries.  Once you start meeting people in the industry, figure out what skills you have that you can offer.  Offer to do small tasks to help learn the business.  Keep your $11000 in a CD or money market for now.  Try to only tap into that money if you know you will be able to pay it back plus interest.  Let this act as your cushion and make smart decisions that will allow you to grow this money exponentially.