Investor · Bentonville, AR · Member since 2020 · 54 posts · 21 votes
Hey! I’m a 17 year old from Bentonville AR and I have been learning about real estate for maybe a year and a half now. I love everything about it and my goal is to get my first deal before August of 2021 which would have to be through some form of creative financing. I have met with a few investors who are now mentors in the area, but I would love to expand my network. If you are from NWA and want to meet up, let’s talk! If you have just any general advice I would love that too, thanks!
Thanks! I listened to that one a couple weeks ago and it was great! I reached out to him after but he said I would have to pay to talk to him so not my kinda thing but still cool to know someone from here did a podcast!
Well I’m sorry to hear that! I am a Realtor in NWA AND in TX ... there’s a meet up there once it opens go! Those guys would love to give you some encouragement!
You bet! I’ll go to one as soon as they have one in person, and that’s awesome that you’re an agent here as well! I might have to pick your brain sometime because I want to get my license when I turn 18 as well! It was Nice meeting you.
Aden, Ive got 2 rentals here in NWA, one in another state.
Since interest rates SO low, Id suggest you buy yourself a 3 or 4 bd house and rent the rooms to [reliable!] friends. You can put as little as 5% down, and in some towns like Cave Springs or Lowell you can get a mortgage with 0% down ! ("Rural Development" they call it). Think about it...your first deal for NO cash invested, no creative financing needed. You live for free and have income youre not "working" for.
Also! Have you started building credit? You'll need this to qualify for a mortgage if this is the route you choose. You can start by getting a credit card, using it for gas or whatever, and paying it off in full every month. Talk to a lender or a bank about building credit and they'll have advice.
That's awesome! I read Brandon turners book on investing with no money down and it talked about rural development but I didn't even think Anywhere around here would qualify! And yes my plan is to house hack first with either a SFH and rent out the bedrooms like you said, or get a duplex. I haven't started building credit yet because my parents isn't great so I have to wait until I'm 18. If you ever want to meet sometime virtually or in person I would love to talk!