After reading many books, listening to podcasts, and researching, I have finally turned 18. This is when I told myself I will start looking to get a first property. However, in this process I am kinda lost. I really do not know where to start. What type of property should I look for? How do I go about getting a loan where I have not even had a credit card for more than a month. Where do I begin?
First, congratulations on doing your homework and getting educated. I think the first thing you need to determine is how do you want to invest? Do you want to do rentals, BRRR, flip homes, wholesale, etc? I think it is best to focus one strategy or you will be lost in a never ending cycle of trying to figure out where to start. I think the best thing for you may be to find some investors in your area and offer to provide some sort of service to them so you can learn what they are doing. You can find investors at your local Real Estate Investor Association. Attend these meetings and start making contacts. While learning from someone, you can start to build your credit and make contacts to help you get your business going. It is going to be extremely hard to get any mortgages or loans until you have a solid credit score. Use your new credit card wisely and make sure you are paying on time and building good credit.
I wish you the best and just keep working at it!