I am 18 and I would like to have a mentor to guid me on what to learn or where to start. I want to take action but I have no starting point.
I started reading Rich dad poor dad and he says to use other people’s money but I cant really do that at the age of 18. For me to get a bank mortgage I have to have match certain requirements which I can’t at the age of 18, but I want to start investing in real estate now.
So can anyone guid me on what to do or where should I start. How to buy my first house? Where can I get start up money to do so? Or how can I get a deal with a tenant?
Hi @Isaac Compere !
The first step is to read Set for Life by Scott Trench. He's got a really practical plan for getting started.
The next step is to get a "good" job. "Good" can be lots of things...Good because you are working in construction and building up some skills, Good because you make good income and have money to invest and are able to get loans, Good because you are doing something analytical that transfers over to Real Estate Investing, or Good because it puts you in contact with real estate investors.
Start going to Real Estate Investing meet ups and networking with people that are doing what you want to do.
A great first property to buy is one that you live in and rent out a portion. With a duplex you can rent out the other side. With a single family home you can rent out rooms.
Keep asking questions, keep learning, and keep hustling. Real estate is a ton of work but an excellent business to get into.
Congrats on deciding to start investing in RE early on!
Depending on your plans, you may either decide to get a degree in (engineering, construction, financial analysis, etc... - whatever your interests are.)
Alternatively, if you plan to stick to RE field, get a job in construction, property management, or any other RE related field.
In terms of the books, start with the two of David Lindahl's books.