18 year old buying a house??

Question

Would it be possible for an 18 year old to buy a house? I want to buy and hold it. How would I find financing if I were to do this? I have no money for a down payment. I want to take advantage of the housing prices before they go up again. Would anybody even want to give an 18 year old a loan??

Joy Wolfenbarger · Answer

Totally did not realize this was a post from 7 years ago. I'm curious to know how Patrick is doing.

Connor Hamilton · Answer

Add +1 to the Under 19 crew - still curious as to how this worked out

Zane Bradshaw · Answer

Same here, I'm reading this post in September of 2016, and I'm 18 years old and in the exact position he was in haha. I'm pretty curious to see how he is doing now..

Patrick E. · Answer

Scott,

I currently do not have a job but I am looking. Its pretty hard to find a part-time job in my area, but I am looking. I think I'm going to start looking harder though.

If they get lower in my area then I would rather wait. How can I start predicting home prices in my area? Any websites that can help me with this?

Patrick E. · Answer

Nick,

So bird dogging is when you sell other investors information on houses for sale? I thought you got paid when they close on a deal.

I'm going to a seminar for the real estate license next Wednesday, so I'll find out more about that.

I'm probably going to attend my first REI meeting this month. I can't wait for that.

Patrick E. · Answer

Well I'm pretty sure I'm going to take your guys advice and start bird dogging. I'm going to start looking for potential houses this week in my area. Should I just look in my city or what? After I find the houses how do I find an investor?

Now I read somewhere on this forum bird dogging is illegal. Is this true?

I was talking to my mom last night and she told me about how you can get your real estate license through Tarbell Realtors. I contacted them today and they said it costs about $300 and they prepare you for your state exam. My mom said she would pay for it. Would it be a good idea for me to get my license if I don't want to be an agent?

I'm pretty sure I want to be an accountant (depending on how I like it in community college) and I know for sure an investor.

Patrick E. · Answer

So when you bird dog do you put the house under contract and then sell it to another investor?

Any books that can teach me about bird dogging? I would definitely like to get my start when I don't have to use my own money.

Patrick E. · Answer

Why wouldn't buy/hold be a good strategy?? What is bird dogging?

Logan Crowder · Answer

hey patrick, I'm currently in a similar position that you where in 7 years ago and just wondering how it all worked for you?

Nick J. · Answer

Patrick, read between the lines. Real estate investing has a lot of 'gray area'  What I'm saying is in most cases it's illegal to accept a commission without being a licensed professional.

if you over complicate the thinking from the beginning you'll talk or think yourself out of deals out of habit later on.

I'm not sure I can simplify my previous post, but if your still overthinking it, I can try to paint a picture for you.

Also don't be so anxious about getting your reale estate license!!!
you can really get yourself in a lot of trouble being a licensed professional while investing especially since your so new and have no clue whats going on. 
You'll forget to disclose your licensed, make a mistake and then get in a lot of trouble because your a 'licensed professional'

18 year old buying a house??

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