Need Advice For First Time Investing

[Brendan Clake]

Hey all, my name is Brendan and I am 17 years old. I have been interested in real estate investing for quite some time now but as I am only 17 I haven't had the opportunity to get out in the field and try it out. I have been trying to educate myself about real estate through online web seminars, YouTube videos, and web articles but I haven't had a great deal of luck.

Since I was 14 years old I have been hooked on the idea of living a life off of passive income and not having to stress about paying bills each month. It truly seems like a fantasy but I believe with hard work and dedication I can make it happen, I just need to educate myself about how to create a positive cashflow through real estate investing, that's why I have come here.

I know it probably says I live in Riverdale Michigan, but infact I live in Australia, as there was no option for Australian cities I had to put something else. 

I am looking for people with experience in the field of real estate investing who can add to this thread and help me further expand my knowledge in real estate. Thankyou in advanced to the people who choose to read this and leave a comment, it is greatly appreciated.

-Brendan

[Scott Hollister]

Welcome @Brendan Clake,

Its awesome to see someone who has passion for real estate at such a young age. Keep plugging away!

1. Lets identify your goals: This will be your sail for the future. You don't want to start off in the wrong direction, even though there are multiple ways to find success in real estate. Lets find the best for you with your strengths. (What are your strengths?) Example: Handy, has time, eager to learn, etc.
   • Goal 1: Create positive cashflow through real estate investing
2. Possible Solutions (Brainstorm): There are many ways to get into real estate at a young age. If you have money I would partner with someone who has a experience. If you have neither, don't worry. Most don't when starting out. Just remember even the best investors started somewhere. 
   • Check out the biggerpockets store for some valuable education. @Brandon Turner gives you the BiggerPockets Ultimate Beginner's Guide to Real Estate Investing for FREE!
3. Once you have brainstormed all the choices, carefully choose your vehicle for positive cashflow and go ALL in and hold NOTHING back. I am talking about grit here, don't let anyone get in your head, including family and friends. If you truly believe you will find success then you can create it. You said it seems like a fantasy. After that you said the most important words in your life. With "hard work and dedication I can make it happen". Do me a favor, write that down on a piece of paper and post it somewhere where you can see it daily. (Use that to find success in all other aspects of your life as well: family, health & wellness, finances, education, spiritual, business, and community.  
   • You might choose single family homes from the MLS or bank owned foreclosures. Or maybe its a duplex/triplex/fourplex with a FHA loan!
   • Here in the US we have government loans with 3.5% down. Most people can agree that a low down payment loan with a duplex is a great entry into real estate investing. 
4. After ACTION you then evaluate your decisions and progress as you continue your growth. Just remember you already have all you need inside of you. Just keep plugging away and learning, education will lead to success.