Hey everyone! Young perspective investor here.

Rental Property Investor · Davie, FL · Member since 2020 · 36 posts · 12 votes

Hi everyone!

My name is Aaron Amarant and I’m 17 years old.

I’ve been studying real estate investing for a few month now, but have always been around some larger commercial investors (because my dad is one).

My experience is still limited and that is why I’m here.

I am looking to dive into my first rental property (mainly multi-tenant) after I turn 18 and get my real estate license.

I’m from the Broward area and would love to get to know some people on here!

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Stephen Solano

Investor · Miami FL 33137 · Member since 2019 · 40 posts · 29 votes

Aaron, I'm a young real estate investor here in Upstate New York, I just turned 20 years old last month and purchased my first duplex back when I was 19 so I definitely understand the struggles as I faced them myself. Most traditional banks require two years full time employment, however there are lenders out there that will give you a mortgage with less than 2 years of full time employment.

In my market, multi family properties are definitely more advantageous to investors due to low prices and high rent relative to the cost of the property, however I'm not familiar with your area so I would not be able to answer that question for you.

Feel free to shoot me a message if you have any questions as I just went through what you are about to go through last year.

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Kyle Mitchell
Multifamily Syndicator · Greater Los Angeles Area · Member since 2015 · 399 posts · 261 votes
6y
Hi @Account Closed! Congrats on taking the first step at such an early age and keep it going! You are in the right place to learn and connect with others. If I can be of help in any way please let me know and best of luck on your journey!
1 Reply
Tyler GibsonBusiness Member
Real Estate Agent · Orlando, FL · Member since 2017 · 1k+ posts · 2k+ votes
6y
@Account Closed Congrats! First tip add a photo to your profile.
[email protected]407-590-9858
GPG Team 598 Reviews
Website View Page
2 Reply
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Rental Property Investor · Davie, FL · Member since 2020 · 36 posts · 12 votes
6y
@Tyler Gibson Just did! Thanks for the tip
0 Reply
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Rental Property Investor · Davie, FL · Member since 2020 · 36 posts · 12 votes
6y
@Kyle Mitchell Thank you! I always watch the bigger pockets YouTube channel so I thought it’s about time to join here even if I have yet to purchase my first rental property.
1 Reply
Brian Stearns
Realtor · Wisconsin Rapids, WI · Member since 2017 · 5 posts · 2 votes
6y
@Aaron Amarant big tip, house hack ASAP!
2 Reply
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Rental Property Investor · Davie, FL · Member since 2020 · 36 posts · 12 votes
6y
@Brian Stearns would you recommend house hacking a duplex? Or would a simple SFH (single family home) be sufficient?
0 Reply
Michael Kissi
Baltimore, MD · Member since 2019 · 47 posts · 22 votes
6y
Originally posted by @Account Closed:
@Brian Stearns would you recommend house hacking a duplex? Or would a simple SFH (single family home) be sufficient?

Welcome Aaron.

It's great that you have initiative and awareness at such a young age. For your answer, it would depend on your budget, your situation and the options available to you. Are you in school? Live by yourself? Any debts?

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Rental Property Investor · Davie, FL · Member since 2020 · 36 posts · 12 votes
6y
@Michael Kissi
Hey Micheal,
I am still a senior in high school, I have no personal debts and I live with my parents. I have about 4 thousand saved up which is why I’m kinda considering the “house hacking” method due to the 3% down payment. The issue I think I will run into would be to find a bank that would finance me since I do not have a comprehensive job history they are looking for.
1 Reply
Michael Kissi
Baltimore, MD · Member since 2019 · 47 posts · 22 votes
6y
Do you plan on moving out? You already have a great network in your dad. Why don't you offer to work for him or ask him introduce you to people that would let you gain some experience as you continue to save and get your RE license?
1 Reply
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Rental Property Investor · Davie, FL · Member since 2020 · 36 posts · 12 votes
6y

@Michael Kissi
Yes i do plan on moving out since my dad really wants me to attend college and i already got accepted to Florida International University. Unfortunately, working for my father right now isn't a option due to circumstances out of my control. My dream would be to somehow get a job in the real estate space (something low level just to gain experience) and save up for my first rental property.

0 Reply
Dylan McCabe
New to Real Estate · Dallas TX · Member since 2018 · 43 posts · 23 votes
6y
@Account Closed You're off to a great start! Here's the key to getting the right direction- find a mentor. Go to local meetups, and start making friends. Tell them your story like you're doing here. Seek and you shall find. That's the best advice I can offer.
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Rental Property Investor · Davie, FL · Member since 2020 · 36 posts · 12 votes
6y
@Dylan McCabe
Appreciate the advice! I’m already planning on going to a local real estate expo by myself so I will sort of have to start talking to people!
1 Reply
Michael Kissi
Baltimore, MD · Member since 2019 · 47 posts · 22 votes
6y
May be a good idea to start looking at property around where you'll be living while at school and ask your father if he may partner with you on it. You can house hack that. If that's not an option, then keep your head down and keep saving.
Why do you want to get your RE license now if college is in your future. Good luck Aaron. I'm pulling for you.
1 Reply
Stephen Solano
Investor · Miami FL 33137 · Member since 2019 · 40 posts · 29 votes
6y
Aaron, I'm a young real estate investor here in Upstate New York, I just turned 20 years old last month and purchased my first duplex back when I was 19 so I definitely understand the struggles as I faced them myself. Most traditional banks require two years full time employment, however there are lenders out there that will give you a mortgage with less than 2 years of full time employment.
In my market, multi family properties are definitely more advantageous to investors due to low prices and high rent relative to the cost of the property, however I'm not familiar with your area so I would not be able to answer that question for you.
Feel free to shoot me a message if you have any questions as I just went through what you are about to go through last year.
2 Reply
Nicole Heasley Beitenman
Investor · Youngstown, OH · Member since 2017 · 2k+ posts · 2k+ votes
6y
Originally posted by @Account Closed:
@Brian Stearns would you recommend house hacking a duplex? Or would a simple SFH (single family home) be sufficient?

Welcome Aaron! Congrats on getting an early start in your REI career! At the end of the day, it's all about returns. Most go for MFH's. I hacked a SFH for 3 years. If I had known more when I started, I would have targeted MFH's. But I'm finding MF prices in my market are high, and rents are lower than SFH. You need to consider what the analysis will look like after you move out of it. Either way, GO FOR IT. It's the best way to start in REI.

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Rental Property Investor · Davie, FL · Member since 2020 · 36 posts · 12 votes
6y
@Nicole Heasley
Thanks for the response!! Since I would be going to college, I could even house hack a SFH and have a roommate to make up most of the mortgage cost if the MFH market is unsuitable for house hacking.
Just to confirm, usually it’s a 3% down payment and you have to live in it for a year for it to qualify?
Thanks
0 Reply
Nicole Heasley Beitenman
Investor · Youngstown, OH · Member since 2017 · 2k+ posts · 2k+ votes
6y
Originally posted by @Michael Kissi:
May be a good idea to start looking at property around where you'll be living while at school and ask your father if he may partner with you on it. You can house hack that. If that's not an option, then keep your head down and keep saving.
Why do you want to get your RE license now if college is in your future. Good luck Aaron. I'm pulling for you.

Why not get it now? That's a great gig for a student considering the flexible schedule. The challenge will be balancing school demands with buyer demands as many transactions demand immediate action on the part of an agent in hot markets/busy seasons. I'd still do it. Get the license, learn, build your network, maybe just act as a seller's agent while you're in school. Your REI career could take off like a rocket after you graduate with 4 years of RE experience under your belt. It's a shame your dad is making you go to school and take on all that debt.
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Rental Property Investor · Davie, FL · Member since 2020 · 36 posts · 12 votes
6y
@Michael Kissi Appreciate it! House hacking definitely seems to be the best route at the moment. The reasoning for my real estate license is really because my father wants me to get it. I don’t have an immediate use for it other than to possibly save the few points on commission that a real estate agent would get when purchasing my first property.
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Rental Property Investor · Davie, FL · Member since 2020 · 36 posts · 12 votes
6y
@Stephen Solano thanks for the response and insight! I will definitely shoot over a private message to talk more. Thank you
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Rental Property Investor · Davie, FL · Member since 2020 · 36 posts · 12 votes
6y
@Nicole Heasley Beitenman Fortunately, i personally will not be responsible for the student loan debt but i agree with the whole "college is a waste of time" mantra, especially while working in the real estate industry. I think working for a realtor will help me tremendously, by both saving up money and learning the ins and outs of the exact industry i want to invest in.
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Nicole Heasley Beitenman
Investor · Youngstown, OH · Member since 2017 · 2k+ posts · 2k+ votes
6y

Good to know the debt won't hold you back. While I don't think it's a waste of time, I do feel that cost has far outpaced value. If it were reasonably priced, I'd encourage more people to go. But that's off-topic.
Yes, it should only be 3-5% down. I believe they go slightly higher for MFH. Talk to at least 3 lenders to get ideas of different rates, loan products, and to find one you both trust and enjoy working with. Good luck!

1 Reply
Steven TaylorPro Member
Investor · Lorain, OH · Member since 2016 · 78 posts · 47 votes
6y
@Aaron Amarant
Make a game plan and stick to it. I started at 19 now 26 years later have made a bunch of money and equity. It’s a long term game plan. Keep up the right path and you will be fine
1 Reply
Filipe Pereira
Property Manager · Windsor Locks, CT · Member since 2016 · 1k+ posts · 1k+ votes
6y
Originally posted by @Account Closed:
Hi everyone!
My name is Aaron Amarant and I’m 17 years old.
As others have said, congrats on getting the gears moving at such a young age!
One thing to think about is how you will financially muster up the cash needed to fund your first deal. One thing you can start doing at your age is looking to build your credit, so that when you are ready for your first loan, your credit will be there to help, not hurt, you.
Best of luck and I hope you find the support you're looking for!
1 Reply
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Rental Property Investor · Davie, FL · Member since 2020 · 36 posts · 12 votes
6y
@Filipe Pereira
Thank you! I am already working on my credit with help from my dad so that it will help with the first loan! The down payment would be the main issue so that’s why house hacking seems to be the best way to get my feet off the ground
0 Reply
Filipe Pereira
Property Manager · Windsor Locks, CT · Member since 2016 · 1k+ posts · 1k+ votes
6y
Originally posted by @Account Closed:
@Filipe Pereira
Thank you! I am already working on my credit with help from my dad so that it will help with the first loan! The down payment would be the main issue so that’s why house hacking seems to be the best way to get my feet off the ground

House hacking with a low down payment is 100% the way to go, and how I got started in real estate as well. Try to stay away from FHA if you can muster up the extra 1.5% (5% down total) to get into a conventional owner occupant loan. You won't need to refi out of it, and many of the associated loan costs will be lower through a conventional loan.

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