Teen Real Estate Investing Preparation

7 Replies

Hi, my name is Jaylan and I am a 17 year old future real estate investor. I have read “Rich Dad Poor Dad” by Robert Kiyosaki, “How To Invest In Real Estate by Brandon Turner and Joshua Dorkin, and am currently reading “Long Distance Real Estate Investing” by David Greene. While I do have knowledge on the basics of everything I would like to know if could offer any advice on what they would do if they were where I am as a 17 year old looking for where to start. As of right now I want to wholesale as an introduction and that’s what I’m leaning towards the most for right now but if anyone could offer any insight on what I need to know that would be very much appreciated I have created a plan for when I turn 18 and now it’s just a waiting game and I want to absorb as much knowledge as I can so I can enter the world of real estate investing with confidence and awareness. Thank you for taking the time to read this I appreciate any feedback.

@Jaylan Auguste First off I applaud you for getting this far, it may not seem like much but you are light years ahead of most.

I am 40 yrs old, I have been in Real Estate in some form or Facet for about 10 years, the one asset that we can not control is time.  I first read Rich Dad Poor Dad about 12 years ago and like most I found it profound, it started me on the path I am on today and from there I read many more books as you are now doing.  

If 40 year old me could sit down and have a conversation with 18 year old me the best advice I could offer would be to take significant action as early as possible.

I would read three books in order, Who Moved My Cheese by Spencer Johnson, Make your Bed by Admiral William McRaven and Set For Life by Scott Trench.  Then take action follow the plan laid out in Set for Life and just run.....

Take a long hard look at what your goal is, figure out the best strategy to accomplish that goal and then work towards it everyday, take action any action and move towards that goal, even if the movement in the beginning is small and seemingly insignificant.  Those small actions equate to big gains as they compound and by the time you are 40 you will be able to do whatever it is you want in this life.

Wholesaling is a great entry into the business, but remember it is a job once you stop working the money stops coming and it takes a lot of work to be successful at it, make sure that it fits into the strategy to get you to your goal!

Hi Jaylan,

I would Recomend to try and help/work for a full time wholesaler, while helping them try to observe the right mind set that required for a successful business, learn their systems and technics and get expirianced, learn from thier sucesses but evan more important to learn from thier failures and mistakes.

Also I'll recoomand you to start let everyone in your sphere to know that you are a real estate investor and buying disteress properties for cash, although most of your friends in your age probobly wont understand what you want from them, they will in 10-15 years from now and geuss who they are going to call? :)

Good Luck!

I think its awesome you are starting early... 

Hey @Jaylan Auguste

Congrats to you for your ambition! If you are looking to connect with someone for some guidance or advice, feel free to reach out. I also 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/

@Avi Werdeshaim

Thank you I actually am currently trying to find wholesalers in my area Maryland is just not the best state for real estate in general and I will let my peers know that I am a real estate investor because I know one day it will come in handy I once again appreciate your insight so much!

@Dan Sheeks

Thank you I am looking to connect with people actually. I’m going to read your article and get back to you. I really appreciate you offering guidance it is needed for where I’m currently at and I see how eager you are about helping the youth, I’m sure your students are very blessed to have you as a teacher and also thank you for opening a door for me I will reach out to you as soon as I am finished with your article and thanks once again!

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