I'm a 16 year old look for real estate advice

[Marco Villaseñor]

Hello, I am a 16 year who would greatly appreciate any advice or guidance when it comes to real estate. I've had the idea of buying a duplex or home and having it being rented. It seems like a good way to make profit. But I have many questions, like how can I get the money? Is this really a good idea? Should I not go to collage to accomplish this dream? How long will it take till I see profit? I'm okay with high risk, high reward investments. Any advice would be appreciated. Many thanks! -MV

[Michael Boyer]

When I was 15-16, I did not realize it (at the time) but I did an ideal landlord internship.

I was striking out finding a summer/part-time job in a small town in Wyoming, so I started an odd jobs business. I got business cards, ran an ad, etc. 

I ended up doing lawns, clean outs, hauling junk, painting, digging, cleaning, etc. 

Much of this is a staple of what I do as a landlord, plus working with the public at a young age helped me handle all types of people I encounter as a landlord.

So any part time job doing this type of odd jobs, handy work, etc. might be good to learn about as a future hands on self managing landlord. 

Today, I am not sure I would say start a business per se knowing some of the paperwork headaches (insurance, licenses, liability, taxes, etc)... but you might land a job with a contractor as a laborer, a property manager or realtor, handyman helper, etc.

Also, you will then be earning some money you might want to save up for that first down payment. Maybe you can buy an affordable large home (many bedrooms) or a duplex near a college and live there and rent to others (paying the mortgage and then some).

Best of luck!