Yonkers, NY · Member since 2017 · 506 posts · 95 votes
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!
Specialist · Charlotte, NC · Member since 2013 · 260 posts · 245 votes
8y
@Account Closed - 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.
Investor · Narragansett, RI · Member since 2013 · 8k+ posts · 4k+ votes
8y
Find a productive activity you love and do that. Vo-tech high schools are still available in your area although swim team may not be compatible with that choice. They are an option for learning trades and dont close out college. There are also adult continueing ed classes for real estate that might offer you a more in depth understanding of say foreclosures now at minimal cost. I dont think you would be shut out of theae
Investor · Ocala, FL · Member since 2015 · 157 posts · 88 votes
8y
Going through the responses, I'm disappointed at so much criticism of others helpful advice, especially from a few younger members of BP and their references to the ignorant "old" people here. Really disrespectful and not in the spirit of BP. Jeff Bezos is 53, Bill Gates in his 60's, and these guys are pretty brilliant. There are many ways to achieve success and everyone has different ideas, much of them garnered from 20-30 years of mistakes and successes. The 2008 recession crashed many businesses, in real estate and lots of other industries (if you're under 25 you might not remember) and those with degrees could fall back on them and get jobs for a little while till they could get back on their feet and start new companies. The trades are also a great path and so is the military. "Old school" jobs like mowing lawns are still in demand and today's online industries are of course a great path that both young and "old" are working in. All can be paths to wealth. Why be derogatory of any of these? Michael will do great whichever path he chooses.
Find a productive activity you love and do that. Vo-tech high schools are still available in your area although swim team may not be compatible with that choice. They are an option for learning trades and dont close out college. There are also adult continueing ed classes for real estate that might offer you a more in depth understanding of say foreclosures now at minimal cost. I dont think you would be shut out of thea
what are vo-tech high schools? Also, I'm already in high school. Also, what are those other courses you are talking about?
Going through the responses, I'm disappointed at so much criticism of others helpful advice, especially from a few younger members of BP and their references to the ignorant "old" people here. Really disrespectful and not in the spirit of BP. Jeff Bezos is 53, Bill Gates in his 60's, and these guys are pretty brilliant. There are many ways to achieve success and everyone has different ideas, much of them garnered from 20-30 years of mistakes and successes. The 2008 recession crashed many businesses, in real estate and lots of other industries (if you're under 25 you might not remember) and those with degrees could fall back on them and get jobs for a little while till they could get back on their feet and start new companies. The trades are also a great path and so is the military. "Old school" jobs like mowing lawns are still in demand and today's online industries are of course a great path that both young and "old" are working in. All can be paths to wealth. Why be derogatory of any of these? Michael will do great whichever path he chooses.
Thanks for standing up for me and the other people on bp as well. We all have different ideas but they are all great strategies to build wealth!
Yonkers, NY · Member since 2017 · 506 posts · 95 votes
8y
Originally posted by @Account Closed:
I remember the innocence of Junior High. The teachers said we will all find our way. Some ended up in prison, many are doing menial jobs, I think its better to not be Mamby Pamby with kids and tell them the truth. Mary Poppins singing Kumbayaa songs @ KOA is not the reality of life.
Judging by this kids responses it doesnt seem he is an outlier like Gates, Bezos or Jobs.
Kucy, what are you getting at, what are you Trying to say?
Yonkers, NY · Member since 2017 · 506 posts · 95 votes
8y
Kucy Ariyoshi I've done this before I visit soup kitchens to feed the homeless, and also I know many people in my school alone who aren't in the best situations ever, I'm just a lucky that I have a great family because there's so many people I know personally in my school who are poor and live in projects as well as many illegal immigrants who are struggling from my church that I go to. I have many sad stories that people have told me and it's just heartbreaking how bad things can be for somebody. I understand this stuff myself a little being a first generation American and not being the richest family out there as well.
Yonkers, NY · Member since 2017 · 506 posts · 95 votes
8y
@Account Closed what are you talking about, I'm just trying to learn here. Everything I'm saying has a purpose because I am trying to learn as much as I can so I can be prepared for my future.
Investor · Narragansett, RI · Member since 2013 · 8k+ posts · 4k+ votes
8y
@Account Closed Saunders trade and technical school in Yonkers is a Vo-Tech. I think you might be served by going to see your guidance counselor to get some direction. Asking questions on a forum like this is one way to figure things out but you may have reached a point where you need to read up on a couple items and physically see what is available for you in your area. You also may come to a point where you need to choose between your activities and spending time doing things that eventually make you capital. Good luck!
Yonkers, NY · Member since 2017 · 506 posts · 95 votes
8y
Colleen F. Thanks for the help! What should I ask my guidance counselor about? Also, I don't go to Saunders I go to Yonkers high we aren't a trades school but we are a really good school for other classes. Will this even matter, what should I ask these people at my school?
Rental Property Investor · Durham, NC · Member since 2016 · 7k+ posts · 7k+ votes
8y
Michael Kantar I see you responding to essentially every comment and trying to ask questions to everyone about everything.
Take the suggestions that people have said that interest you, write them down, and then do some independent research and ask people like your parents for advice.
Advice is good but with all these random comments if you try to follow even half of these you’ll likely never get anywhere because you won’t be focused.
Focus on making money, earning good grades and keep doing what you’re doing. Education is key at your age and important. Anyone who tells you otherwise is simply mistaken.
Flipper/Rehabber · Ardsley On Hudson, NY · Member since 2017 · 9 posts · 2 votes
8y
Love that you have a strategy Michael. Just like you I️ was bitten by the RE Bug at a very young age. I️ currently own several properties in Westchester County and finish my first Flip Deal. I️ am in the market for my next Flip and, who knows, maybe you will find me my next deal. Good luck to you!