How to start out young?

Question

Hello BP members! To get straight to the point, I am wondering what steps I can take to get started in rental property investing. A little about myself, I am currently 18 years old and first time college student. As every young teen,I am always thinking about what I would like to do for the rest of my life and investing in rental properties have always caught my attention since the age of 15. At my age there is very little I can do regarding buying properties as I do not have a good amount of knowledge, money, or a well establish credit history. If I can get any kind of tips or steps or just any type of advice that you older, experience and established investor have, it would be greatly appreciate !

Thank you for your time !

Dan Sheeks · Answer

Hey @Emmanuel Perez

Congrats to you for your ambition! I work with a bunch of young aspiring real estate investors just like you (in a free online group), and I am willing to help you out with some advice or even chat on the phone if you wish. But I first recommend you read this article I wrote for Bigger Pockets titled How to Invest in Real Estate Before Turning 21. Once you've read it, let me know your thoughts and if you have any questions. I am a high school teacher in Colorado and I am always looking to help young people get started in real estate investing or help in any way I can. Let me know if you want to chat sometime. https://www.biggerpockets.com/

Jason Wilson · Answer

Hello @Emmanuel Perez,

I am not a seasoned investor, (I only have one rental right now) but I was in a similar position as you are. I started looking into real estate when I was 18, bought my first house at 20. My biggest mistake was moving out of my parents house. At your age, if you still live at home rent free, TAKE ADVANTAGE! I moved out when I bought that house and I am much further behind than I should be.

Other than that, first start building up credit and saving! Listen to the BP Podcast, read books on investing (I started with Robert Kiyosaki books), and read as much of the BP forums as you can. Knowledge and credit building are two big things you can start right now.

Best of luck.