Tips for a 16 year old wanting to invest

[Henry Davis]

Hi I’m 16 and want to invest in real estate in my early 20s, I’m asking for any tips and advice from others, all comments would be greatly appreciated!

[Chris Szepessy]

Not sure if you’re working now, but I assume you’re still in school, so get a part time job, don’t spend foolishly, and save as much as you can. During that time, read books, forums, listen to the podcasts, etc. When you are ready to buy, consider a 2-4 family instead of just a single family house. It would still be a residential loan, but you’d have 1-3 other tenants paying your mortgage and you could potentially live for free and still make a profit each month.  They call it “house hacking” on here. Search that and you’ll find a ton of useful info. 

Also, if you’re school offers a trade school for half the day, take a building/construction or HVAC or electrical class. It will come in handy when you buy a house. 

I wish I was smart enough to start when I was 16...I probably could’ve been “retired” now at 32.