Buying & Selling Real Estate Discussion

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I want to get started in real estate but im 16.

Posted Jan 15 2022, 14:24

I am 16 from Philadelphia PA. I love real estate, I love learning or watching youtube/tv show about real estate. I know I can't sell a house or actually become a realtor due to my age. I want to know what I can do to get started or even get a head start in real estate. Should I reach out to a local realtor near me and ask for mentorship and for him or her to take me under their wing to gain knowledge and i'll do something in return. I am 16 and I know what I want for my future, I think that sets me apart from other kids my age especially since everyone my age wants to smoke,drink, and have "fun". I want to do the complete opposite I want to be successful. I just don't know how and that runs through my brain every day wondering what I can do to get a head start and set me up for a good successful future. 

Please respond, anything will help. 

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Replied Jan 15 2022, 16:10

First of all salute to you for even thinking about your future so young, if I was on this path at your age I would have been financially free before 30. Secondly, if I could go back to 16 years old I would learn about everything that has to do with real estate & business. Also I would  get an older person in my family to open up a custodial account for me so I could start putting some money in the stock market. Lastly I would work as much as I could so I could save as much money as I could so when I came of age I could purchase a property as soon as possible.  Either way your on your way to becoming a millionaire & I want to be the first to say congrats 

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Rebecca Orlich
  • Investor
  • Long Island, NY
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Rebecca Orlich
  • Investor
  • Long Island, NY
Replied Jan 16 2022, 10:14

Hi @Rocco Rosa, I echo Glenn's sentiments about how inspiring it is to see someone of your age being so ambitious and determined to execute. My advice would be to become financially literate. Financially literacy is a foundation of financial concepts and understanding how they work together. For example, it's knowing how your financial behaviors now will impact your credit, which will impact buying a house later. When it comes to real estate, if you want to be an agent in the future, perhaps find a mentor and in-exchange offer to assist with open houses, errands, showings, etc to learn the ins and outs of the job. If you're more interested in just real estate investing, BP has all the information you need. 

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Nicole Heasley
  • Lender
  • Youngstown, OH
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Nicole Heasley
  • Lender
  • Youngstown, OH
Replied Jan 16 2022, 11:17

I would start attending local meetups! You'll meet professionals you can shadow. There's all kinds of ways to get into real estate including becoming an agent. I would also talk to lenders and insurance professionals to learn about what they do.

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Bruce Woodruff#3 All Forums Contributor
  • Contractor
  • Arizona
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Bruce Woodruff#3 All Forums Contributor
  • Contractor
  • Arizona
Replied Jan 16 2022, 12:05

Get as much experience as possible in both Real Estate and Construction. Volunteer if you have to. Be an office gofer or a pick-up guy on a jobsite. These two skillsets will serve you well over the years.....!

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Shiloh Lundahl
  • Rental Property Investor
  • Gilbert, AZ
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Shiloh Lundahl
  • Rental Property Investor
  • Gilbert, AZ
Replied Jan 16 2022, 13:18

@Rocco Rosa I agree with what @Nicole Heasley stated about going to meetup groups. That is a great way to get started. I hold a meetup group and a couple of teenagers attend the group to learn.

Another thing you’ll want to decide is if you are more interested in being a real estate agent, or a real estate investor. Because the learning is different for both. If you want to be a real estate agent then find an agent that you can help by doing a lot of office work, paperwork, setting up for sale or open house signs, etc. If you want to be a real estate investor, connect with a Real estate investor and ask that investor to help you become a bird-dog for him or her. If you are 16 years old, you should be old enough to get a driver’s license. You could drive around and do what’s called driving for dollars, and you could help actual investors find properties and they could pay you for that.  That’s something that you could do now even though you’re under 18.

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Dan Sheeks#1 BPCON Contributor
  • Rental Property Investor
  • Denver, CO
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Dan Sheeks#1 BPCON Contributor
  • Rental Property Investor
  • Denver, CO
Replied Jan 16 2022, 13:28

Hey @Rocco Rosa! This brand new Bigger Pockets book is just for you -First to a Million: A Teenager's Guide to Achieving Early Financial Independence. Check it out. There's a workbook too that will lead you through all the decisions and strategies you need to tackle. I think these two tools are the best place for you to start. Admittedly, I am prob bias as I am the author. :-) Feel free to reach out if you have any questions.

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Replied Jan 16 2022, 13:37

Listen to as many free bigger pockets podcasts as possible. Most successful investors in this space have listened to hundreds of BP podcasts. Also, save as much as possible and buy a house before age 20. Partner with someone or convince your parents to use their credit to finance it through a conventional bank. You'll be the smartest guy in the room come age 30. Buy as many as you can before age 30. That's house money.

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David Avery
  • Flipper/Rehabber
  • Phoenix Arizona
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David Avery
  • Flipper/Rehabber
  • Phoenix Arizona
Replied Jan 16 2022, 14:51

Bought my first deal at 17, even though I wrote it up in my dads name and his signing of all DOC's.

Everyone knows a Realtor and everyone wants to invest in Real Estate.

Work for a contractor that Flips houses!

Work next to a top notch agent and shadow box them.

Get access to the MLS and learn everything about it at your age.

Start working on your credit.

Start saving money for a down payment and product.

Surround your self with the best in the fields.   Most everyone would love to help someone that is young and

ready.

Work as much as you can to make money, and save so you can purchase your first deal at 18.

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Dawson Holmberg
  • Real Estate Agent
  • Janesville, WI
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Dawson Holmberg
  • Real Estate Agent
  • Janesville, WI
Replied Jan 16 2022, 16:19

You're already on the right track, because you have the drive to reach big goals! Just reaching out and networking with people is right now and will always be the most powerful and growth enhancing thing you can ever do. I'm 20 years old now and I've been interested in real estate and looking at deals since I was 16 too. The amount of connections you can make just from reaching out to people, being hungry to learn, and showing that your driven to be successful is more than you might imagine. Offer to work for people in exchange for their knowledge. Manage their social media accounts for them (since most older folks aren't as tech-savvy). I moved out when I was 18 and grew a great relationship with my landlord who has given me a verbal agreement to sell the duplex I'm renting in to me. My relationship with my landlord led me to meeting a real estate broker in my area and I've been a Realtor for just over a year now, closing my 7th deal soon. My relationship with my broker led to meeting an investor in my city who I have co-founded a property management company with. Seriously just being motivated, providing value, building relationships with people will lead to so much! Keep pushing for big goals, you are going big places!!!