Buying my first property

[Davis Chem]

I am very new to real estate and 18 years young. I am thinking about buying my first property, and if it would be possible if I partnered up with someone where they are qualified for the loan and I took care of rehab, managed the property, and paid all the expenses with the income from the property. I am thinking of asking family to see if they are interested, and the main question would be the financing because I don't come from money.

[Bruce Woodruff]

I admire your drive.....18 yrs is young to be doing this, but it can be done.

However....if you came to me and said you would handle the rehab and management of the property, I would ask you to show me proof of any experience you have had with construction, management or anything else related to Real Estate. You are asking people to invest their money in a project with a young person with no experience and who will have no 'skin in the game'. If this goes south, you can and will just walk away. They cannot.

Think this through and figure a way to get some 'skin in the game', however small......maybe offer to contribute even $100 a week from your regular job.

Then go get some real world experience in the field.....volunteer at a RE office as a gofer, or at a construction jobsite as a clean-up guy....that will impress a lot of people.....

Good luck!