I just turned 15, I live in the Denver area. I've been interested in Real Estate for a few months now. I've been reading all good books, (Rich Dad Poor Dad, Riches Man in Babalon, Guide to investing with low or no money down, etc..). All these books are really insightful and give me a lot of good information, but the best way to learn is to just do it. I can't legally own any real estate until I'm 16, and my parents wouldn't be willing to sign a contract to buy real estate in the first place (too risky). I want to do something, but I'm not really sure what to do.
If you have any Idea that would be great. Thanks
Real estate is a game that, you can speed up the progress if you have money.
Money makes more money.
If you have no money now,
Do you like studying?
Do you plan to get a college degree?
At your age, one way to prepare to get into real estate is get a college degree, try to get a high W-2 paying job, keep excellent credit score, save down payment from high paying job, it will get you the first, second, more and more properties pretty soon.
What if you don’t like studying and don’t want to go to college?
Another way, be a carpenter or other real estates related job, but it may take longer time to save the down payment for multiple houses if you don’t have a high paying job.
I started everything from zero, from scratch.
I didn’t get any help from my family, relatives or friends.
Since I got my college degree at 22 years old, I was working one full time and two part-time professional jobs, more than 70 working hours each week, made 6 figures income salary since I was 22 years old in the 90’s.
I could save money easily from my 3 jobs (6 figures yearly income) and used it as down payment to buy houses.
Hi Jayden, if you are interested in Real Estate, see if your parents would allow you to work with an agwnt over the summer. There are many pieces of the Real Estate puzzle you could understand by working with an agent. There are always things to do and many of them you can learn quickly. If you are willing to do what it takes you can get where you want to go.
@Jayden Kazantsev One of the hardest things for many people to understand is rehab costs/ working with contractors/ finding good contractors. Maybe try to get a part-time job working on residential construction sites to get an early education on material and labor costs and how a job-site is operated. If you have this figured out, it can set the stage for the future of your success.