18 y/o (no credit) looking to get into real-estate

[George Willaman]

Hey all,

I haven't been a registered member of BiggerPockets too long but have been reading it's content and learning about real estate for some time now.

I'm 18 (just graduated) and run my own business/data-brokerage on the site (I've managed to save up $40k this year), but I'm really looking to get into acquiring SFH properties.

I don't have a credit history (applied recently for a credit card), so I'm estimating it'll take me quite some time to build up a score. That being said, I don't want to sit back doing nothing waiting months for it to build. I'd really appreciate any insight or tips on what I can do (or create) that relates to the real-estate industry which can help grow my knowledge.

Cheers!

- George W.

[Stewart Beal]

Hi George: I purchased my first property when I was 19, I had saved up $50,000 and partnered with someone who had more business experience and a credit score.  We purchased a 5 unit in Ypsilanti, MI for $262,000, $50,000 cash, $212,000 loan.  $40,000 is saving is exactly where you need to be, go and apply for loans, if they tell you no, then take on a partner.