Im a 17 year old highschool student who is currently investing in stocks and would love to expand out to real estate. If anyone has suggestions/tips for getting into real estate investing/real estate career that would be much appreciated!
Get a STEM education and a job. # of exit strategies is proportional to safety for investing and a financially successful life. I don't have a college degree but the salary split of my direct reports with and without one is about 30-40K.
Build your credit.
Attend networking events.
1. Turn 18, as you can't do anything legally by yourself until then.
2. Save every dime you can get your hands on until then.
3. Devour everything worthwhile reading & podcast in the meantime.
4. Apprentice with a building trade - electrician, HVAC, plumbing, framer. This type of first-hand knowledge will always serve you well and give you money besides.
5. Get yourself in a good career as a primary way of building funds for investing. College is great if you pick a good career. Building trades can be highly lucrative if you're willing to bust it out. Live on your parent's couch or in a van while you pump all that money into properties.
6. Do a military stint. It will give you access to VA loans, which can get you into a house-hack for virtually nothing and can be used over and over again (refinance out of the VA loan, do another one).
I would recommend looking into getting your real estate license! After getting my license and joining Keller Williams, my real estate world opened. Let me know if you have any questions!
@Zach Giles Read the books and listen to the podcasts on BiggerPockets. If you have access to college or a trade affordably after high school I recommend the experience. But don’t put yourself into lots of debt doing so. Think scholarships (even if you don’t qualify for academic ones there’s thousands of random non academic ones if you do the research), community college then state institutions, etc.
Get your real estate license. House hack if possible. Buy a 4 bedroom house and rent 3 rooms to friends to pay the mortgage.
Build up your credit. Get a small credit card. Spend a small amount on it each month and pay it off each month to build your credit. Use Experian Boost from the Experian credit report site to use things like your cell phone bill being paid on time each month to improve your credit and your rent being paid on time. Of course only if you pay on time otherwise it backfires and hurts your credit.
A good thread for all 16, 17, 18, 19, etc people. Asked and answered tons of times.
@Zach Giles Educate yourself! Read books, listen to podcasts, read articles, connect with local real estate investors. I'll second what @JD Martin said and recommend you join the military. Its a great way to build a solid foundation personally and professionally, and the benefits are substantial (GI bill, VA loan to name a couple).
Best of luck and keep us updated on your journey!