How to start real estate investing

Question

Im 17 trying to get a idea and a plan on how to start investing in real estate as soon as possible

Carl Fischer · Answer

@Marquice Mccloud

Congrats on the first step in your journey as a real estate investor. It is great to have such ambition and to get started at such a young age! My parents instilled that desire in me when I was young and I followed in the same path, along with many of my siblings. It has helped me grow in experience, skill and wealth both in my retirement accounts and outside of my retirement accounts. As the other posts have suggested its very important to be educated and to build a network of people you trust and who also trust you. My company is based near Philadelphia and I attend many real estate investing groups and events in the general area. There are many great real estate investing groups you can look into. Some have small membership fees and some are free. I would be happy to connect and share with you some of the groups I attend and even speak at occasionally.

Victoria Pham · Answer

Wow, 17. You've truly proved that talent doesn't wait for age. You'll get there!

You're looking for investment properties in Philly? Do you know the strategy you want to do(flip/rental) and the areas you're interested? Answer those questions first and then see what's the budget you're comfortable spending. Once you know for sure what you want, the next step is to build a network and build a team (contractor, lender, wholesaler, property manager....). And you'll go from there!

Dan Sheeks · Answer

Hey @Marquice Mccloud. Congrats to you for your ambition! I work with a bunch of young aspiring real estate investors just like you, and I am willing to help you out with some advice or even chat on the phone if you wish. But I recommend you read this article I wrote for Bigger Pockets titled How to Invest in Real Estate Before Turning 21. Once you've read it, let me know your thoughts and if you have any questions. I am a high school teacher in Colorado and I am always looking to help young people get started in real estate investing or help in any way I can. Let me know if you want to chat sometime.https://www.biggerpockets.com/..

Brendan McAllister · Answer

All great advice on this thread. As some have highlighted, just the fact that you are looking to gain knowledge at 17 puts you in a great place. The sooner you start investing the better. Whether its through stocks, real estate, etc. it's always beneficial to start as early as possible. Since you're 17, the best way to get started it to just soak up information. Like others were saying, bigger pockets podcasts/threads, investing groups, other virtual groups are great to become more knowledgeable. Do research on specific neighborhoods and towns as well. Look to see where new builds are happening, what houses are selling for, where they are trending, etc. There are a ton of ways to do research, even just driving around the city will help you understand where the city is trending.

Jonathan Greene · Answer

Listen to the BP podcasts where the info on the guests is about how they got started and they are still young, there are plenty of them. It might give you some insight into what could work for you. But one caveat, at 17 if you want to start investing in real estate ASAP, what's your plan for getting the money to do that? Going to local REI events, offline and online, is a great way to make relationships and at your age, you should be offering something that you can do for an investor or wholesaler that they don't want to do (driving for dollars, birddogging, etc.)

Jeffrey Edwards · Answer

Networking and education are the two best and cheapest methods!

How to start real estate investing

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