14 year old looking to build capital

274 Replies

Hi everyone, my name is Michael I'm 14 years old and I live in westchester county in New York. I want to start some sort of llc or other corporations so I can sign contracts and invest in real estate before I'm 18, what do you guys think about this? Also, I need to get capital to be able to do this so I was thinking of some things to do, here are some of them:

Buy and sell things online for profit
Maybe get a brokerage to invest in forex for me(some other type of investing like that)
Do bird dogging (don't have money to market though)

What do you guys think of these strategies? Also, do you guys have anything else I can possible do to raise funds? I am very motivated and trying to get started in real estate investing! Thanks!

@Michael Kantar I know that in a previous thread you posted people had told you the first thing to do is to speak with an attorney about what you can actually even do since you are 14 years old. I would not even begin thinking too hard about anything else until you know that you can actually form an LLC, sign contracts, etc.

Have you contacted an attorney yet?  An accountant might not be a bad person to contact either as they could give you some advice on the tax/financial end of things as to what will and won't be possible being that you are still a minor.

This post has been removed.

@Brian H. I'm not looking for advice on people to talk to, first I want to build some capital before I do anything, so I was looking for some ways to do this. Do you have any advice for the ways that I listed down below or any ways other than I listed below?

Ok also looking into the regular stock market now, no longer forex because it's too risky

This post has been removed.

This post has been removed.

This post has been removed.

This post has been removed.

Great to see an ambitious kid.

As for building capital, the most important form of capital is human capital.


How do you develop your human capital?



Now, as for acquiring financial capital, your list of possibilities alarms me somewhat.  Why?  Because as I said, it is good to see an ambitious kid.  And no one would want to see that ambitious kid get discouraged, or waste his time.

You should forget things like FOREX and the stock market.  You are more likely to lose money that to earn it, and in any case, a 14-year-old cannot open a brokerage account.

The best way for a teenager to earn money is good, old-fashioned, not sexy or exciting, WORK.

Mowing lawns, flipping burgers, scooping ice cream, all of that fun stuff.

When you are 18, and able to sign contracts, you will have plenty of money saved to get a real estate license, which is a good idea anyway, and then make some larger amounts of money to fund your investment ideas.

Let me tell you what I did when I was young.  My first real estate deal.  

I bought a small piece of raw land, on payments.  I bought a cheap chainsaw and spent the summer cutting trees to prepare a driveway and house site.  I sold the wood for firewood (and this was before Craigslist; it would be easier now.)  I got the state permit for the curb cut.  I got the perk test done.

After all expenses, I cleared about $8,000.  For quite a lot of work.  

But I learned a lot about permitting.  About zoning regs.  About buying and selling real estate (well, not a LOT about that, but some.)  And I was now someone who had actually DONE something in real estate.  I regularly dealt with some of the same people who I was involved with on that project for decades, until they retired.

Work.  No fancy stuff.  No easy path to riches.  Do well in school, work a teenager's job, and get yourself ready.

This post has been removed.

@Richard C. I won't be investing in the stock market yet because I don't know enough about it yet, but I am doing some simulations to practice, and I'm not going to do forex because it's too risky. I will do all of that once I gain a lot of experience and am confident in my abilities, also I will sell things online for profit. I will also be doing work for some investors alongside all of that. But I also think that there are ways that I can start investing before I'm 18, I'm not so worried about that aspect yet because I'm not at that point yet probably in a few years when I have more capital and experience.

But I would talk to some attorneys and cpa's to see what my options are and how much it would cost, the risk, and other factors like that.

Ways I made money at 14: mowing lawns, soccer referee, working part time for the city.

I guarantee that there will still be real estate when you are 18.

Learn to walk before trying to run.

@Michael Kantar - Love your ambition, Michael. At 14, you are thinking the right way. Your age shouldn't stop you from going after what you want. 

1. First, consume as much information on real estate as you can. Podcasts, forums, books, etc. At your age, people will question your ability to know anything. Be as educated as you can. 

2. Network. Uber to a real estate events if you have to. Surround yourself with bosses who get things done. This will help elevate your game and get you into deals. 

3. Volunteer your time to a realtor or flipper or someone with lots of deal flow. Real experience is the best reference to have. Reading can only get you so far. Work for free if you have to. It will pay off in the long run. 

Do these things and your world will open up. You will find yourself in opportunities and ways to make money. Over time, someone will take a chance on you. Chase your dreams buddy. I'm rooting for you. 

work and save the money. Then do four years in the army (save all of that too). Then get a va home loan to buy a quadraplex while going to college for finance. VA will pay for the school. Take out student loans to use as downpayment to buy low income rental properties. Do all of this in the south.

@Ian Tudor thanks for the help. I've been watching some podcasts, reading some books, forums, etc. I would try to go to some meetups but my parents wouldn't allow me, maybe in the future for that. I have been working with some investors who have been helping me as well. I haven't been able to see them in person or any of their properties yet but I've been trying to add value to them as well. Overall, I will continue to do that, I'm also looking to get some additional capital so I can have some money to start investing soon, so I am teaching myself about the stock market so I can possibly invest there, and I'm also doing some bird dogging along with selling some things online for profit. I will start these to get some capital, what do you think of this? Also, would you recommend me do anything other than all of this stuff? Anyways, thanks for all of your help and support, I really appreciate it!

@Carl Pickens I wouldn't want to go to the army, it's too crazy for me. Also, I'm not 100% sure about that college stuff either. If I'm going to be an entrepreneur I don't even need to go to college it would be a waste of money. But if I do have enough money to be making money on top of all of the college costs I would probably consider it, but that education isn't exactly needed if I already have the experience and knowledge needed to be successful in my business.

@Michael Kantar - Become an expert in real estate. Learn everything you can. Find deals. Deals is the real value in today's market. Capital is everywhere. You can close real estate deals without money. I closed one last year and made over $75K. I didn't put any of my money into it. I found a deal via a broker before it hit the market and brought in an investor. You will have to get creative to find your way into opportunities given your age and lack of money. 

On the other hand if you want some spending cash, you can flip cell phones or thrift store items on ebay and Amazon. Search YouTube, there are lots of people doing it. 

@Ian Tudor I am going to do the flipping with the stuff from thrift stores, dollar stores, etc. how did you do a deal with 75k without any money? Would I need to sign contracts, if so, I can't do that yet. But what did you do to make that 75k, was it wholesaling, bird dogging, or something else?

Im my part of the country this works

1.cut grass

2.paint address on curbs nfl loggo local high school etc..

3.search alibaba and try to buy stuff that you can sell at school clothes  belts etc 

4 .car detailing for the neigbors

 You  can really make good money on the grass i know my son a few summers ago saved like 500 or 800 dollars one summer he was 12. What we did i walked with  him and asked many homeowners to let him cut grass on a donation for the first time if they liked it he would do it for a flat rate price  the next time. We priced his price like 15 to 20 dollars cheaper than the pros cause at the end of the day a 12 year old  has little overhead . Fast forward  two years he didnt have the grit or ambition to keep on doing plus we moved to a new home and he never wanted to get started at new location.  Good luck just remember nothing is easy 

I second the person wgo says do 4 years in the Army and then house hack with a quad plex. Get a degree through the military. 

Don't underestimate getting a college degree and that title of "veteran". A lot of doors open for you with those 2 things under your belt. Want to be an entrepreneur? Be a vet so you can run a "vet owned" business. You get first priority on government contracts. 

Want to get capital from others? Get into the school with the biggest reputation you can and join a frat and learn to talk football.  But don't fool around and don't waste your time. Get a job. Take more classes. Finish early with a focus in finance, engineering or some other seriously marketable skill. 

It is a huge mistake to say "I'm going to he an entrepreneur, I don't need an education." You never know what's going to happen and you may find yourself in a situation where you need that stable job with the insurance and paid leave.

It will be nearly impossible to go back to school once you get married and definitely after you have kids. So do it now. Don't be one of those people who wonder if you should have gotten a degree. It's not that hard.

Seriously think about the military option.  Don't throw it out becuase you're afraid of discipline or following orders or whatever. It is worth it. 

And yes, flip stuff on eBay. And when you're making $5000+ per month don't think that this is all you need to do. Go to school anyway. 

Hey, you asked for advice, right?

Law student, not lawyer. But minors cannot form an LLC in any state in the US. They can only have an "interest," meaning receive money from. Love your ambition but getting around the law is not easy.

Free eBook from BiggerPockets!

Ultimate Beginner's Guide Book Cover

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.

Lock We hate spam just as much as you

Join the Largest Real Estate Investing Community

Basic membership is free, forever.

By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.